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US Close – Stocks pare gains after hot data drives taper fears, Oil pares weekly loss, Gold gives up gains after PMI readings, Bitcoin down again on China heat
Posted 10 hours agoSharePrint
US stocks reversed course after both hawkish comments from the Fed’s Harker and an impressive flash PMI reading that made another series high, as average selling prices for goods and services continue to rise at unprecedented rates. Harker commented that the Fed should start having conversation about tapering sooner rather than later. The FOMC minutes let the taper talk cat out of the bag and now we get to hear where policymakers stand on removing some accommodation.