Markets shrug off midterms; inflation and rotation concerns
US stocks rose about 1.6% post-election and Treasury yields slipped, but chips fell 3% and Asian equities were mixed. Bilello warns that central banks are behind on inflation.
What we know
The Economist notes the S&P gained 1.6% while yields and the dollar edged lower. Tom Lee argues a blue wave is bullish for tech, and an account on X cites strong post-midterm seasonality. Bilello warns more rate hikes are coming, and chips fell 3% despite the index gain. In Asia, the Nikkei lost 1%, Taiwan fell over 2%, and Hang Seng Tech rose over 2%.
How the story developed
US stocks rose about 1.6% post-election and Treasury yields slipped, but chips fell 3% and Asian equities were mixed. Bilello warns that central banks are behind on inflation.
US, European and Asian equity futures fell on the House projection, with Treasury yields lower. Strategists point to AI/data-center friction and debt-ceiling gridlock, though some see overreaction.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.