S&P 500, Nasdaq advance as investors switch focus to upcoming inflation data
S&P, Nasdaq rebound after Monday's sell-off
US-listed shares of Chinese companies fall
PepsiCo rises after results
Indexes up: Dow 0.08%, S&P 500 0.69%, Nasdaq 1.09%
Updates to 1357 ET/1757 GMT
By David French and Lisa Pauline Mattackal
Oct 8 (Reuters) -The S&P 500 and Nasdaq Composite rose on Tuesday, recouping some of the previous session's losses, as investors shifted attention to upcoming third-quarter earnings and inflation data which may offer the next clues for how interest rate cuts will unfold.
All three of the main indexes suffered a sell-off on Monday, falling roughly 1% each, as they were pressured by surging Treasury yields, escalating Middle East tensions, and a re-evaluation of U.S. rate expectations.
Investors have been locked in all year on the U.S. Federal Reserve and how it plans to deliver its long-expected bout of interest rate cuts, with each new economic data set studied for how it could influence the thinking of the central bank.
Last week's data releases, including Friday's stronger-than-expected jobs report, had prompted investors to trim their rate cut bets slightly, albeit leaning more toward a 25 basis-point cut at the next Fed meeting in November, as opposed to 50 bps.
Traders have now priced in a nearly 89% chance of a 25 basis-point interest rate cut in November, according to CME FedWatch.
Markets now await consumer price index data, due this Thursday, for the next signpost on the path of interest rates.
"The Fed keeps telling you that they're data-dependent - so the end of this week is big to see whether or not inflation is truly tamed," said Kim Forrest, chief investment officer at Bokeh Capital Partners.
"But the Fed has been signaling where - not necessarily when - rates are going, and they have signaled that they're going lower."
Monday's pressure on equity markets from rising Treasury yields eased somewhat on Tuesday. The two-year Treasury yield slipped slightly from Monday's highs, but the yield on the benchmark 10-year note US10YT=RR remained above 4%.
This abatement allowed investors to return to betting on high-growth stocks, which benefit from lower debt costs to fuel their growth, such as technology companies.
The information technology index .SPLRCT led the gainers among the S&P 500 sectors, rising 1.7%. It was aided by advances of 5.4% and 4.8%, respectively, by Palantir Technologies PLTR.N and Palo Alto Networks PANW.O.
Heavyweight Nvidia NVDA.O was also 3.7% higher.
At 1:57 p.m. EDT, the S&P 500 .SPX was up 39.02 points, or 0.69%, to 5,734.96 points, while the Nasdaq Composite .IXIC climbed 195.38 points, or 1.09%, to 18,119.29. The Dow Jones Industrial Average .DJI rose 32.93 points, or 0.08%, to 41,987.17.
Most S&P sectors gained. Among the few trailing were the materials sector .SPLRCM, which fell 0.6% to a low of more than two weeks, as metal prices slipped on waning optimism over China's stimulus measures.
U.S.-listed shares of Chinese companies also slid, tracking losses in domestic stocks. Shares of Alibaba Group BABA.N, JD.com JD.O and PDD Holdings PDD.O lost between 5.8% and 7.7%.
Energy .SPNY was also a decliner, slipping 2.4% as oil prices retreated following Monday's rally. O/R
Third-quarter earnings are also coming in to focus, with major banks scheduled to report this Friday. The estimated earnings growth rate for the S&P 500 is 5%, according to LSEG estimates.
PepsiCo PEP.O reversed premarket losses, rising 1.5%, after the snack maker trimmed its forecast for annual sales growth, but reported adjusted earnings per share above estimates.
Reporting by Lisa Mattackal and Pranav Kashyap in Bengaluru and David French in New York; Editing by Shinjini Ganguli and Matthew Lewis
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
