1) Wall Street closes lower in disappointment of Goldman’s earnings, rising bond yield
Wall Street closed lower yesterday after a disappointment in Goldman Sachs’ earnings that missed expectations while more bank earnings are up ahead. Meanwhile, the 10-year Treasury yield topped 1.87% last night.
Dow Jones closed 1.51% lower on Tuesday. S&P 500 fell 1.84% and Nasdaq plunged 2.60%. The share price of Goldman Sachs dropped 6.97% to $354.40 per share yesterday.
2) WHO warns omicron will not spell an endemic
The World Health Organization (WHO) warned that omicron will not be the last outbreak, saying that the high levels of infection around the world, citing a 20% increase of global infections over the past week, will likely lead to new variants as the virus mutates.
“We’re hearing a lot of people suggest that omicron is the last variant, that it’s over after this. And that is not the case because this virus is circulating at a very intense level around the world,” said Maria Van Kerkhove, the WHO’s Covid-19 technical lead.
3) Oil prices soar to 7-yeah high on supply concerns
Oil prices rose to a 7-year high yesterday amid supply concerns after Yemen’s Houthi group attacked the United Arab Emirates. The international benchmark Brent crude rose 1.19% to close at $87.51 per barrel while the West Texas Intermediate jumped 2.43% to $85.43 a barrel.
4) Bond yields rose to 2-year high at 1.87%
The 10-year U.S. Treasury yield jumped to a two-year high yesterday at 1.87%, gaining 10.5 basis points, after surpassing 1.83% during the Asian trading hours. Meanwhile, the 30-year Treasury bond rose to 2.192% and the 2-year yield broke the resistance level of 1% to 1.05%.
