Market wrap- U.S. stocks show a mix, bonds rally stalls

With almost four stocks seen going down for each one higher in the benchmark., U.S. stocks were seen to be mostly lower and the rally in bond markets also lost steam with little change being seen in the oil industry after it touched its high in more than two years. A strong indication is hinted towards Wall Street’s pandemic-era trading boom could be drawing to a close, as hinted by JP Morgan’s Chase Chief Executive Officer Jamie Dimon.

The Treasury 10-year yield rose to 1.50% after hitting three-month lows on Thursday amid the biggest weekly slide since December making the investors lookout for hints by the Federal Bank about a signal scaling back emergency monetary stimulus as they are expecting that the central bank will reaffirm the pace of bond purchases this week, even if it delivers projections for interest-rate liftoff in 2023. The decision is due Wednesday.

“We’re in a tug-of-war between the understanding that we’re having great economic growth and great earnings growth juxtaposed with the fact that we need to get our head wrapped around what inflation looks like and what it will mean both to profit margins and to the Fed,” said Art Hogan, chief strategist at National Securities.