Stocks rose for the seventh straight session on Tuesday, their longest winning streak of the year. Equities got an assist from the fixed-income markets, which bid up bonds. The closely-watched 10-year Treasury yield, which had risen on Monday, fell back 0.092 percentage point to 4.570%. That provided a boost in particular for technology stocks, which tend to be more rate-sensitive than the overall market. The Nasdaq rose 0.9%, compared to 0.3% and 0.2% gains in the S&P 500 and the Dow Jones Industrial Average. Each of the so-called "Magnificent Seven" mega-cap tech names - Apple, Microsoft, Nvidia, Meta Platforms, Alphabet, Tesla and Amazon - rose on the session. Amazon led with a 2.1% gain. Separately, private equity giants KKR and TPG rose 5.0% and 3.0% respectively after reporting quarterly earnings. Heard on the Street's Telis Demos says investors were pleasantly surprised by their ability to monetize, or sell off, assets during the period. Here’s what else Heard on the Street was watching: Live Markets Snapshot Crude oil, Bitcoin USD and gold continuous contract data refresh every time you open this email. Other data are as of market close.
CONTENT FROM: Goldman Sachs Asset Management
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