UK mortgage approvals far outstrip forecasts


The S&P 500 retreated from a record high to start the second quarter of 2024 on the back foot, with Treasury yields rising as resilient economic data prompting traders to reassess their bets on rate cuts this year.

Despite opening in positive territory on Monday, Wall Street’s benchmark swung to close 0.2 per cent lower as the as real estate, industrials and healthcare groups slipped.

Overall, almost three-quarters of the S&P 500’s constituents fell, with pharmacy operator Walgreens Boots Alliance the worst performer with a 9.9 per cent drop.

The tech-dominated Nasdaq Composite added 0.1 per cent.

Shares in Amazon, Microsoft, Meta, Nvidia and Alphabet rose while Tesla and Apple lost ground.

Articles You May Like

Mortgage refinance demand surges even as rates cross back over 7%. Here’s why
$1 million homes are now ‘typical’ in a record number of U.S. cities, analysis finds. Here’s where they are
Police launch probe into claims Angela Rayner broke electoral law
Markets slash rate cut bets after US inflation rises to 3.5%
California sells $1.5B GOs into mixed market while mutual funds report inflows