Traders Indecision Leads Sluggish
WALL STREET CLOSE: TRADERS’ INDECISION LEADS TO ANOTHER SLUGGISH DAY
XAU/USD FAILS TO HOLD ABOVE $1,900 DESPITE FALLING BOND YIELDS
USD stays resilient despite slumping Treasury bond yields.
US shares marked modest performance by the end of Tuesday’s North American trading.
Although downbeat US Treasury yields and a jump in “meme” stocks helped Nasdaq to remain positive for the third consecutive day, cautious sentiment ahead of the key Thursday capped Dow Jones Industrial Average (DJI) and S&P 500 for one more day.
It’s worth noting that the US inflation expectations extended the south-run to a six-week low, taking the US 10-year Treasury yield down near four basis points to 1.54%, which in turn helped technology shares.
However, cautious sentiment ahead of Thursday’s US inflation and the ECB joined a lack of positive updates over US President Joe Biden’s infrastructure plan to weigh on the markets.