On Wednesday, the 7th of August 2019, Wall Street wraps up the day with a mixed depiction, while S&P 500 had rebounded to post a modest gain after experiencing a heavy downpour during morning US trading hours. Apart from that, Dow Jones Industrial Average shuts down Wednesday’s (August 7th) market a penny lower, while Nasdaq managed to mead an affirmative outcome.
Besides, adding that intensifying worries of a global-scale economic downswing would force Fed to roll out a rancorous cycle of rate-cut, which in effect would likely to weigh on US Treasury bond yields which had already been harboring closer to its October 2016 lows, a market strategist at Robert W.
Baird in Milwaukee, Michael Antonelli said, “The 10-year yield has come to represent all of the concerns about global growth at this very moment, so the stock market has latched onto it, like a kid to a lollipop. So, when yields started to rise today, the stock market started to rise.
I wouldn’t expect the market to shoot back to its high. We could be stuck in a range as this a sort itself out. ” Quoting statistics, Dow wrapped up Wednesday’s (August 7th) market almost flatlined to 26.007.07 with a slight slide of 0.09 percent and S&P 500 added 0.08 percent to 2,883.98 after jolting as much as 1.49 percent during pre-market trading, while Nasdaq added 0.38 percent to round off the day at 7,862.83.