Morning Business Report: Treasury yields jump as Wall Street awaits Federal Reserve update
Wall Street started the week lower, with the Dow falling 272 points Monday as Treasury yields moved sharply higher.
(LILAMAX)- Wall Street started the week lower, with the Dow falling 272 points Monday as Treasury yields moved sharply higher.
Long-term yields jumped during trading, with the 30-year Treasury yield reaching its highest level in 20 years.
Investors are now looking ahead to the Federal Reserve on Wednesday. A Reuters poll found most economists expect interest rates to remain unchanged through the end of the year.
Meanwhile, BlackBerry is making a comeback — but not as the smartphone company many consumers remember.
A decade after selling its last phone, the company is now focused on software and recently reported its first positive quarter. BlackBerry develops operating systems for industries including automobiles, robotics and defense. Its shares have climbed 150% over the past year.
The summer season is typically a strong period for beef sales because of cookouts, but higher prices appear to be taking a toll on demand. After nearly two years of rising prices, beef sales have fallen 0.3% and are expected to continue declining through the end of the year.
A new survey is also shedding light on how Americans spend their workdays.
A Talker Research survey for Wild Planet found more than half of Americans say they never step outside during a typical day at the office, with many workers skipping a traditional lunch break and eating at their desks.
Most workers surveyed said they believe taking a real lunch break is important and would prefer to eat outside if given the opportunity.
