Wall Street Set To Open Moderately Higher
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Initial signs from the U.S. Futures Index suggest that Wall Street might open positive.
Earnings reports might get the special attention of investors. Investors might be keeping eye on the war-like situation in Gaza as more than 100 people were killed as Israel stepped up attacks.
Asian shares finished mixed, while European shares are trading higher.
As of 7.35 am ET, the Dow futures were adding 168.00 points, the S&P 500 futures were progressing 27.50 points and the Nasdaq 100 futures were gaining 142.25 points.
The U.S. major averages all ended with strong gains on Friday. The Dow advanced 433.79 points or 1.29 percent to settle at 34,021.45, after hitting a high of 34,181.77. The S&P 500 ended up by 49.46 points or 1.22 percent at 4,112.50, while the tech-laden Nasdaq closed higher by 93.31 points or 0.72 percent at 13,124.99, well off the day s high of 13,247.87.
The rates of growth and inflation are now surging in the U.S., but that shouldn t be a surprise to anyone. What else would you expect when the Federal government has sent $6 trillion dollars in helicopter money to state and local governments, businesses, and individuals over the past year. Then, at the same time, millions of homeowners are told they don t have to pay their mortgages. In addition, our central bank has printed trillions of dollars to push asset prices through record-high valuations and continues to create $120 billion each month in order to keep Wall Street happy. All the above is happening while the economy opens up due to the dissemination of COVID-19 vaccines. The markets have anticipated this economic boom and have now nearly fully priced it all in. For instance, home prices have soared by 12% year over year in February, which was the fastest increase in the past seven years. And, the total market cap of equities is now over 200% of GDP about tw
5/10/2021 2:45:15 PM GMT
The rates of growth and inflation are now surging in the U.S., but that shouldn t be a surprise to anyone. What else would you expect when the Federal government has sent $6 trillion dollars in helicopter money to state and local governments, businesses, and individuals over the past year. Then, at the same time, millions of homeowners are told they don t have to pay their mortgages. In addition, our central bank has printed trillions of dollars to push asset prices through record-high valuations and continues to create $120 billion each month in order to keep Wall Street happy.
All the above is happening while the economy opens up due to the dissemination of COVID-19 vaccines. The markets have anticipated this economic boom and have now nearly fully priced it all in. For instance, home prices have soared by 12% year over year in February, which was the fastest increase in the past seven years. And, the total market cap of equities is now over 200% of GDP
Disclaimer
Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader s level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch s authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent au
ICYMI - Fed s Kaplan said (again) its good to start talking taper sooner rather than later
Greg was all over his remarks here:
Kaplan has been flying the flag to at least talk about tapering, while other Fed officials have pretty much fallen in line behind Powell who is of the opinion that its still too early.
It looks like markets paid more attention to Kaplan s view today though with higher yields an lower stock prices.
For further recaps of Kaplan s remarks:
Trading offers from relevant providers By subscribing I agree to Forexlive s Terms, Cookies and Privacy Notice This field is required