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Stocks, U S futures drop on inflation concern
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U.S. stocks closed mixed and Treasury yields rose as minutes showed Federal Reserve officials were cautiously optimistic about the U.S. recovery at their April meeting, with some signaling theyâd be open âat some pointâ to discussing scaling back the central bankâs massive bond purchases.
The S&P 500 fell for a third day, and 10-year Treasury yields jumped to session highs following the release. Energy and raw-material stocks fell the most as commodities prices tumbled amid mounting concern about inflation and potential curbs on monetary stimulus. The Nasdaq 100 notched a small advance, boosted by late-day gains in tech stocks including Facebook Inc. and Alphabet Inc.
Stocks, equity futures drop on inflation concerns: markets wrap
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Oil was up marginally and near a two-year high amid optimism around a demand recovery in regions such as the US, even as coronavirus flares up in parts of Asia.
Investors this week will parse the minutes from the Federal Open Market Committeeâs latest meeting for any discussion about accelerating price pressures, and hints of a timeline for reducing asset purchases. Federal Reserve Vice Chair Richard Clarida said during a webinar that the weaker-than-expected April payroll report shows âwe have not made substantial further progressâ on the central bankâs goals for employment and inflation laid out as thresholds to begin scaling back the central bankâs massive monthly bond purchas
May 19 2021, 11:36 AM
May 18 2021, 3:17 AM
May 19 2021, 11:36 AM
(Bloomberg) U.S. stocks declined for a second day with losses steepening in the final 15 minutes of trading as investors weighed the rush to reopen the economy against inflationary pressure from a rise in commodity prices.
(Bloomberg) U.S. stocks declined for a second day with losses steepening in the final 15 minutes of trading as investors weighed the rush to reopen the economy against inflationary pressure from a rise in commodity prices.
All three of the main U.S. equity benchmarks closed lower after megacap technology stocks including Amazon.com Inc., Microsoft Corp. and Alphabet Inc. erased earlier gains. Nine of the main 11 S&P 500 industry groups declined, with energy stocks leading losses as oil prices dropped amid a report that significant progress has been made to revive the U.S.-Iran nuclear deal. AT&T Inc. plunged the most in the benchmark gauge after the company said it plans to spin off its media
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