Following the market opening Monday, the Dow traded up 0.50% to 34,378.59 while the NASDAQ rose 1.18% to 13,629.81. The S&P also rose, gaining 0.83% to .
U.S. Dollar Rebounds On Inflation Worries
CANBERA (dpa-AFX) - The U.S. dollar gained against its major counterparts in the European session on Wednesday, amid a pullback in European shares on growing inflation concerns and a possible policy tightening by the U.S. Federal Reserve.
Investors turn their attention to the minutes of the Federal Reserve s April monetary policy meeting, which could offer policymakers views on the recovery, inflation and potential timing of any monetary policy adjustments.
The Fed has repeatedly signaled that the recent increase in inflation largely reflected transitory factors and it intends to keep policy accommodative for some time to come.
Euro stays above $1.22, at highs since February By TPN/Lusa, in Business, News · 19-05-2021 17:54:00 · 0 Comments
The euro rose on 18 May and traded above 1.22 dollars, at highs since February, after members of the US Federal Reserve (Fed) indicated that monetary policy will remain expansionary despite inflationary pressure.
At 6.15pm (Lisbon time), the euro was trading at 1.2216 dollars, while on Monday, 17 May, it was trading at 1.2157 dollars.
The European Central Bank (ECB) fixed the exchange rate at 1.2222 dollars.
The increase in risk tolerance has weakened the dollar.
Federal Reserve Bank of Atlanta President Raphael Bostic told CNBC on Monday, 17 May, that now is not the time for the Fed to start withdrawing support for the US economy, which has eight million fewer jobs than before the pandemic.
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Provided by Dow Jones
By Joe Wallace and Alexander Osipovich U.S. stocks fell Monday, dragged down by declines among technology shares, following a week in which concerns about inflation whipsawed markets. The Dow Jones Industrial Average fell 142 points, or 0.4%, in late-morning trading. The S&P 500 dropped 0.5%, while the tech-heavy Nasdaq Composite declined 0.7%. With earnings season drawing to a close, investors remain focused on whether a recent jump in inflation will blow over or become entrenched. A protracted spell of faster growth in consumer prices could prompt the Federal Reserve to tighten monetary policy, potentially hurting stocks and other assets that have gained from low interest rates.