US Stocks Trim Black Monday's Drops As Services Gauge Expands, Bond Gains Stall As Traders Reassess Fed Cuts: What's Driving Markets Monday?

Quick Summary:

Global markets are experiencing intense volatility, and while it seemed like a Black Monday for Wall Street was inevitable following a 13% overnight tumble of Japan’s Nikkei 225, stock indices are attempting to limit early session losses by midday trading in New York.

The inflection point came after July’s services sector activity surveys revealed improved conditions from June and a stronger-than-expected expansion, easing fears of an imminent U.S.recession.

In July, business sentiment in the U.S.services sector returned to expansion, with the ISM Services Purchasing Managers’ Index (PMI) rising from 48.8% to 51.4%, surpassing expectations of an increase to 51%.

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Author / Journalist: Piero Cingari

Category: Technology

Markets: United StatesChinaJapan

Topics: Macro Economic Events US78467X1090 IWM XLK CSX US81369Y8030 US78462F1030 US4642876555 Treasuries K DIA Expert Ideas US00738A1060 ETFs Mid Cap ADTN Benzinga XLRE Top Stories YUMC US4878361082 Bonds $BTC Midday update Stories That Matter US73935A1043 Federal Reserve CAR JJSF Tech TLT CG Large Cap US4642874329 US1264081035 PLTR Cryptocurrency NVTS TSN Economics US0537741052 Equities BNTX US4660321096 Econ #s XLP QQQ Broad U.S. Equity ETFs Sector ETFs Small Cap SPY US81369Y3080 FANG US9024941034 Commodities Global markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 17:11:34 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 516 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 21939414

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