1. Stock Futures Fall After Wall Street s Rough Week
Stock futures traded lower Monday as Wall Street came off a rough week driven by concerns over what effect rising inflation would have on the U.S. recovery.
Contracts linked to the Dow Jones Industrial Average fell 143 points, S&P 500 futures were down 15 points and Nasdaq futures declined 55 points.
Stocks closed higher Friday but posted losses for the week as inflation fears had Wall Street worried the Federal Reserve could boost near-zero interest rates and begin tapering asset purchases earlier that it has signaled.
The Dow fell 1.1% last week, the S&P 500 declined 1.4% and the Nasdaq dropped 2.3%.
5/17/2021 1:53:46 PM GMT | By Eren Sengezer
Wall Street s main indexes push lower on Monday.
S&P 500 Technology Index is down 0.7% after the opening bell.
Defensive sectors cling to modest gains in early trade.
Major equity indexes in the US started the new week on the back foot with investors turning cautious amid a lack of significant fundamental drivers. As of writing, the Dow Jones Industrial Average was down 0.28% on the day at 34,286, the S&P 500 was losing 0.25% at 4,163 and the Nasdaq Composite was falling 0.4% at 13,341.
Among the 11 major S&P 500 sectors, the risk-sensitive Technology Index is losing 0.7% after the opening bell. On the other hand, the defensive sectors, Healthcare, Utilites and Real Estate, post modest gains.
5/17/2021 1:25:04 PM GMT | By Eren Sengezer
NZD/USD came under renewed bearish pressure in early American session.
US Dollar Index stays flat on the day near 90.30.
10-year US T-bond yield is staging a rebound following two-day decline.
The NZD/USD pair started the new week on the back foot and extended its slide to a fresh daily low of 0.7182 during the early trading hours of the American session. As of writing, the pair was losing 0.83% on the day at 0.7194.
USD selloff pauses as market mood sours
The risk-averse market environment is helping the greenback find demand on Monday. At the moment, the US Dollar Index is flat on the day at 90.30 and Wall Street s main indexes remain on track to open in the negative territory.
Gold marks highest finish in over 4 months, breaks above 200-day moving average MarketWatch 2 hrs ago
Markets could see a repeat of February s bond yield surge, strategist says
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Gold finished higher Monday, with prices at their loftiest since January on the back of a weaker U.S. dollar and losses among many global benchmark stock indexes.
Gold received an “uplift on a slightly weaker [U.S. dollar], and with real yields turning more negative,” Ross Norman, chief executive officer at Metals Daily, told MarketWatch.
Prices for the precious metal gained more ground during Monday’s trading session after Federal Reserve Vice Chairman Richard Clarida said the U.S. economy hasn’t hit the benchmark of “substantial further progress” needed for the U.S. central bank to begin scaling back asset purchases. That helped put pressure on the U.S. dollar, supporting dollar-denominated prices of gold, with the ICE U.S. Dollar Index trading down 0.2% in Mon
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