© Reuters. FILE PHOTO: A trader works on the floor of the New York Stock Exchange shortly before the closing bell as the market takes a significant dip in New York, U.S., February 25, 2020. REUTERS/Lucas Jackson/File Photo
A look at the day ahead in U.S. and global markets from Mike Dolan
A cratering of oil prices and more signs of a cooling economy have seen Treasury yields plumb their lowest in two months, underpinning Wall St stock indexes despite notable single stock plunges in Walmart (NYSE:), Cisco (NASDAQ:) and Alibaba (NYSE:).
U.S. two-year Treasury yields skidded below 4.80% on Friday for the first time since September 1, with 10-year yields dropping under 4.40% to September lows too.
Although they backed up a bit on Friday, oil prices have plummeted this week – hitting four-month lows on Thursday on a mix of rising U.S. inventories and global demand levels that JP Morgan estimates is running at half their standing forecasts for November so far. Crude has now lost almost 25% in just six weeks – aided by the U.S. gradually lifting oil sanctions on Venezuela.
But the demand picture stateside was clearly softening too. Signs of a loosening of the U.S. labor…
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