00:00Welcome back to Nia Gowonin and here are some international updates.
00:03Wall Street's main indexes closed higher on Tuesday as technology stocks recovered from a sell-off ahead of AI heavyweight
00:09NVIDIA's results,
00:10while investors found some relief in drops in all prices and bond yields.
00:15The gains could ease investor concerns sparked by a recent bond market route that lifted yields and pressured equities.
00:21They could also help set the tone for September, a historically weaker month for stocks.
00:27The market has really had a lot of volatility, kind of back and forth over the past couple of weeks,
00:33but more intensely over the last several trading days.
00:37The market, as we see it from our firm, is just grappling with what does this newer framework of higher
00:44yields,
00:44particularly along in the Treasury curve, really means for risk assets across the board.
00:50We're coming to, you know, a lot of our work is honed in on this one metric and this one
00:56price, if you will, across risk assets for some time.
00:59It seems like the market is finally starting to grapple with, you know, what does that mean as far as
01:03discounting cash flows
01:04and how you price the rest of the risk landscape.
01:07And that process can be churning and, frankly, could introduce downside volatility.
01:13And that's one concern we have is how that really filters through how folks like myself that sit in our
01:19seats look at the world
01:20and how we price risk going forward because that base price of the Treasury yield on the long end of
01:26the curve
01:27really kind of sets everything from there.
01:29And we're going through the same exercises as well.
01:33According to preliminary data, the S&P 500 gained 23.76 points or 0.31% to end at 7
01:41,676.62 points
01:44while the Nasdaq Composite gained 165.28 points or 0.64% to 26,145.47.
01:53The Dow Jones Industrial Average rose 160.24 points or 0.30% to 53,577.40.
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