Stocks making the biggest moves midday: Disney, Ethan Allen, BlackRock, JPMorgan and more
These are the stocks posting the largest moves in midday trading.
Treasury yields slipped on Tuesday as traders digest the latest news surrounding a potential U.S. fiscal stimulus package along with muted inflation growth.
The 10-year Treasury yield fell by 5 basis points to 0.7248%. The 30-year bond rate slid to 1.51%. The 2-year yield also pulled back to 0.141%. Yields move inversely to prices.
House Speaker Nancy Pelosi, D-Calif., told fellow lawmakers in a letter that the White House’s proposal for new coronavirus aid has insufficient offers on health-care issues. Meanwhile, Senate Majority Leader Mitch McConnell, R-KY, said Tuesday the legislative body would vote next week on a smaller stimulus package.
Pelosi and McConnell’s comments came after the Trump administration called on Congress over the weekend to pass a smaller $1.8 trillion coronavirus relief bill as negotiations on a bigger package continue to run into roadblocks.
Stocks close lower for a second day amid coronavirus aid uncertainty, Dow drops more than 160 points
Stocks fell after comments from Steven Mnuchin dampened expectations of a coronavirus stimulus deal being reached before the election.
Yields had been rising recently along with equity prices amid hope that Democrats and Republicans can reach a deal on coronavirus aid before the Nov. 3 election.
On the economic data front, consumer prices rose 0.2% last month, matching expectations. However, that print represents a growth slowdown from August.
“After several months of above-trend gains, price pressures are finally normalizing,” Aneta Markowska, chief economist at Jefferies, said in a note. “It is difficult to find any areas of strength in the September CPI data outside of used car pricing, which is unlikely to be sustained. The weakness in the sticky components is particularly worrisome and points to continued disinflation ahead.”
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