ASX 200 to rise, uranium stocks break out + US 10-year yield nears 16-year high

ASX 200 futures are trading 17 points higher, up 0.24% as of 8:20 am AEST. Source: Market Index S&P 500 SESSION CHART

S&P 500 higher intraday to close near best levels (Source: TradingView) MARKETS

S&P 500 higher and finished near session highs, led by big tech

Nasdaq rallies intraday from 0.4% open to 1.56% close, reflecting some renewed AI optimism before Nvidia earnings on Thursday Dow finished off worst levels but still in the red as real estate, staples and energy led to the downside US 10-year yield rose 8.5 bps to 4.34%, the highest since November 2007 Sentiment remains negative amid the upward pressure on rates, China’s growth concerns, scepticism about peak Fed, depleted excess US savings and optimism 2024 consensus earnings estimates Positioning no longer a headwind as Goldman Sachs notes that hedge fund leverage has come down to 64% from 74%, says funds have room […]

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