Hotter PPI, Tech's Rough Stretch, Biden: China a "Ticking Time Bomb" 8/11/23
Squawk on the Street
00:00
The Global Story of Yields
The NASDAQ 100 dropped below its 50-day moving average for the first time since March. Tech stocks have been a strong area of the market because crude and natural gas have cooperated pretty well. The 10-year yield is above 4%. And that is a headwind for tech. Dan Ives today, WEDBUSH says, look, the fundamentals are strong. We got the earnings season and it looked better and if the Fed is done raising rates, these stocks should be a buy and they should rally again.
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