Stocks Continue to Move Lower As Bond Yields Rise
U.S. stocks continue to move lower as bond yields continue to escalate. Investors are concerned that the higher yields will reduce corporate earnings and slow down the pace of the economy.
July crude futures fell 0.9% to $65.40 per barrel. Gold futures for August delivery fell 0.7% to $654.10 an ounce, which marks a new 12-week low.
Around Asia, Shanghai’s Composite Index rose 1.9% to close at 4,072.14, Hong Kong’s Hang Seng Index rose fractionally to 20,636.39, and Tokyo’s Nikkei fell 0.4% to 17,760.91.
Today’s PowerRatings Heat Map is looking fairly mixed with no sectors showing overwhelming strength or weakness. Click here to view all 33 Heat Map sectors.  Â
Click here to see our new list of indicators that includes Gaps Down 5% or More, 2-Period RSI Below 2, Stocks Up 10% or More. Historically proven edges make these a great place to start making a watch list.Â
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Darren Wong
Associate Editor