Major US stock markets ended with losses on Monday, pressured by a surge in stocks Treasury bond yields Figures confirm the weakness of the manufacturing sector, while caution is increasing in the markets in the face of the upcoming decision Federal Reserve (Federal Reserve Bank).
he Standard & Poor’s 500 It decreased by 0.50% and closed at 6814.65 points. he Nasdaq Composite It decreased by 0.38% and closed at 23,276.76 points. while Dow Jones It decreased by 0.86% and ended the day at 47,304.96.
According to the survey he conducted Institute of Supply Management (ISM), US manufacturing rose For the ninth consecutive month of contractionThis is in a context affected by weak orders and the continued impact of customs tariffs on costs. The report maintained concern about the recovery of the industrial sector.
Joe SalozAnna, partner at Themis Trading responsible for structuring stock markets, explained: “The market still depends on corporate profits, but these days it’s all about the Fed“.
Investors are paying attention to the Federal Reserve meeting, scheduled for December 10, which according to the CME FedWatch tool, there is a greater than 85% probability that Cut off 25 bp in interest rates.
“I don’t see much reason why the upward trend won’t continue, although it will probably be gradual towards the end of the yearSaluzzi added.
The rate scenario was also conditional on the development of international markets. Back this Monday US Treasury bonds The apparent weakness in Japanese and European securities increased, after the Governor of the Bank of Japan, Kazuo Uedaindicates that conditions are favorable for a potential interest rate hike in the Asian country.
Rising yields usually have a negative impact on sectors considered alternatives to bonds, such as real estate and utilities, which recorded declines throughout the day.
At the same time, Crypto market Showed a surprising slowdown: Coinbase and the US shares of Bitfarms were among the hardest hit after Bitcoin’s decline put it below the… $85,000.
The collapse sent the industry into decline: the total cryptocurrency market lost more than $1 trillion (according to CoinGecko) from its record high of $4.3 trillion. strategyThe company with the largest cryptocurrency reserves closed lower after cutting its 2025 profit forecast, attributing it directly to the Bitcoin sector.
At the corporate level, Cyber Monday Retail giants kept focus, with Walmart and Target posting modest gains, driven by expectations that consumers will spend more than $14 billion online, according to Adobe Analytics.
Among technology companies, Synopsys jumped after Nvidia – the leader in artificial intelligence processors – announced a $2 billion investment in the developer of semiconductor design software.
Federal Reserve Bank Chairman, Jerome PowellHe is expected to speak after the market close, although official sources rule out that he will comment on monetary policy on the eve of the organization’s main meeting.
In addition, investors remain paying attention to the September Personal Consumption Expenditure Index report – the Fed’s preferred indicator for monitoring inflation – which has been delayed and is scheduled for release on Friday.
(Information from Reuters)