Stock market news live updates: Stocks mixed as yields rise, inflation concerns mount Emily McCormick
Stocks ended Monday s session mixed while commodity prices rallied, as rising Treasury yields and expectations of higher inflation weighed on equity prices. Tech shares sold off, and the Nasdaq posted its biggest drop in a month.
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The S&P 500 posted a fifth straight day of losses, for its longest losing streak since February 2020. The Nasdaq sharply underperformed, dropping more than 2% as tech shares came under more pressure. The Dow pared earlier losses, however, and rose slightly.
Some commodity prices performed more strongly. U.S. West Texas intermediate crude oil futures (CL=F) and Brent crude futures (BZ=F) both jumped after Goldman Sachs strategists said in a note Monday that they expected Brent prices to reach $70 in the second quarter and $75 in the third quarter this year amid rising demand. WTI crude oil has already gained 23% this
Yields eased back in morning trading following comments from European Central Bank President Christine Lagarde that her team was monitoring rising rates. Rates rose again later in the session.
Bleakley Advisory Group s Peter Boockvar said Lagarde will be less inclined to accept a rise in long-term rates relative to some other central bankers. Fed chair Jerome Powell is set to address Congress on Tuesday and Wednesday.
The White House said it expects to finish sending out millions of doses of coronavirus vaccines this week, after a sweeping winter storm disrupted its distribution logistics, helping to boost optimism about an economic recovery.
Stock market news live updates: Stocks mixed as yields rise, inflation concerns mount Emily McCormick
Stocks ended Monday s session mixed while commodity prices rallied, as rising Treasury yields and expectations of higher inflation weighed on equity prices. Tech shares sold off, and the Nasdaq posted its biggest drop in a month.
Popular Searches
]
The S&P 500 posted a fifth straight day of losses, for its longest losing streak since February 2020. The Nasdaq sharply underperformed, dropping more than 2% as tech shares came under more pressure. The Dow pared earlier losses, however, and rose slightly.
Some commodity prices performed more strongly. U.S. West Texas intermediate crude oil futures (CL=F) and Brent crude futures (BZ=F) both jumped after Goldman Sachs strategists said in a note Monday that they expected Brent prices to reach $70 in the second quarter and $75 in the third quarter this year amid rising demand. WTI crude oil has already gained 23% this
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