Banks were among top performers among financials, with the S&P 500 bank index up 2.6% following a rise in the benchmark U.S. 10-year Treasury yield, which touched its highest level since April 2021.Higher interest rates can increase profit margins for banks and financial firms.
S&P 500 ends choppy session nearly flat, a day after sell-off
U.S. inflation data for January is due on Thursday, with markets now pricing in a one-in-three chance the U.S. Fed might hike rates by a full 50 basis points in March.
Gold steady near 1-week high as inflation risks lift demand
Ascendas REIT surged 2.86 percent, Genting Singapore rallied 0.65 percent, SATS lost 0.74 percent, Thai Beverage sank 0.75 percent, Wilmar International was up 0.23 percent and Singapore Exchange and Comfort DelGro were unchanged.
Continued Strength Anticipated For Singapore Stock Market
Singtel(Z74): The telco is expecting to book net tax exposure, interest and penalties amounting to A$304 million (S$295.9 million), it said in an update on Sunday (Dec 19).
Bank of America Corp. now predicts seven rate hikes in 2022 and BNP Paribas SA forecasts six, while JPMorgan Chase & Co. and Deutsche Bank AG see five.
Goldman Sachs Predicts Fed Will Raise Rates Five Times This Year
Time in the market is more important than timing the market. It, like so many other cliches, sticks around because it is largely true. Investors who buy and hold stocks for several years instead of trading in and out of positions on a regular basis tend to do much better.
3 Energy Stocks You Can Buy and Hold for the Next Decade