Stocks Rise on Waller's Remarks and Mideast Hopes: Markets Wrap
A post-holiday Wall Street session saw stocks rising and short-dated Treasuries outperforming after Federal Reserve Governor Christopher Waller said rates could drop as soon as July, while concerns about a direct US involvement in the Middle East conflict eased as Donald Trump held off on a decision on whether to strike Iran.
The S&P 500 bounced after two sessions of losses. Investors also braced for a $6.5 trillion US options expiring on Friday, in a move that could free equities to swing more wildly than the subdued changes seen in recent weeks. Two-year yields almost wiped out their advance, trading around 3.94%. Oil fell after a news report that Tehran is ready to discuss limitations on its uranium enrichment.
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