(Bloomberg) — US stocks and bonds wavered on Monday as traders awaited remarks from the Federal Reserve Chair later in the session.
Most Read from Bloomberg
S&P 500 edged down 0.07% with Ford Motor Co. and General Motors Co. weighing on the benchmark index after profit warnings from European automakers. Despite Monday’s pullback a record-setting rally has put the equities gauge on track for its fourth consecutive quarter of gains — the longest such stretch since 2021.
Shorter dated Treasury yields climbed, led by the policy-sensitive two-year note while the dollar steadied.
Investors will also be tuning in for remarks by Fed Chair Jerome Powell on Monday when he takes the stage at a National Association for Business Economics conference.
“Powell won’t end the 25 bp versus 50 bp debate this afternoon. Or at least it is very unlikely.” according to BMO’s Ian Lyngen. Friday’s employment report is most likely the main event…
