GLOBAL MARKETS-World stocks dip after new highs, dollar falls Reuters 2 days ago
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Popular Searches Bond yields near three-week lows Bitcoin hits record high, dollar weakens
By Herbert Lash and Tom Arnold
NEW YORK/LONDON, April 14 (Reuters) - Major global stock indexes scaled new peaks on Wednesday before shedding gains that anticipated a strong recovery from the coronavirus pandemic, while the dollar dipped to three-week lows as Treasury yields held below recent highs.
High-flying growth stocks declined on Wall Street, sending the benchmark S&P 500 and Nasdaq lower, while underpriced value stocks rose, lifting the Dow to a new record.
(Bloomberg) U.S. stocks lingered near record highs and bond yields increased as Jerome Powell said the economy is entering a period of quicker expansion. The benchmark S&P 500 Index fluctuated for much of Wednesday’s trading session as investors weighed earnings from companies including some of the world’s biggest banks. The Federal Reserve chairman also warned that risks from a potential spike in Covid-19 cases remain. The energy and financial sectors led gains in the benchmark index, while the information technology and communications services industry groups paced the decliners. Goldman Sachs Group Inc. climbed after its revenue beat estimates. JPMorgan Chase & Co. dropped as the bank warned that loan demand remained tepid. “We’re going to get some really strong corporate earnings numbers in this quarter most likely, and the question is is there anything in there that is going to be sustained or is this a one-time surge as we emerge from Covid?” said Matt Forester, chi
Treasuries Give Back Ground After Yesterday s Advance
WASHINGTON (dpa-AFX) - After moving notably higher in the previous session, treasuries gave back some ground during the trading day on Wednesday.
Bond prices moved modestly lower in morning trading and remained stuck in the red throughout the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1.5 basis points to 1.638 percent.
The modest increase by the ten-year yield came after it ended Tuesday s trading at its lowest closing level in three weeks.
Upbeat earnings news from financial giants such as Goldman Sachs (GS) and JPMorgan Chase (JPM) may have inspired traders to move out of treasuries.
Coinbase, a digital currency exchange, soars in market debut
The company s initial public offering happened with cryptocurrency chatter seemingly everywhere, even at the Federal Reserve.
By MICHELLE CHAPMAN and ALEX VEIGAAssociated Press
Richard Drew/Associated Press
Coinbase made a rousing debut on Wall Street Wednesday, with shares of the digital currency exchange rising as high as $429, briefly giving it a market value over $100 billion.
Coinbase Global Inc.‘s initial public offering happened with cryptocurrency chatter seemingly everywhere, even at the U.S. Federal Reserve. Digital currencies are being incorporated into business plans and accepted for payment by major corporations like Tesla, PayPal and Visa.
4/14/2021 11:07:13 AM GMT | By Pablo Piovano
EUR/JPY keeps the consolidative mood well in place.
The dollar and the Japanese yen look directionless.
Investors’ attention is expected to be on Powell’s speech.
EUR/JPY extends the multi-session consolidation theme, always above the key 130.00 yardstick, on Wednesday.
EUR/JPY looks to Powell, risk trends
EUR/JPY now exchanges gains with losses above the 130.00 hurdle amidst the generalized inconclusive price action in the global assets.
In fact, the greenback navigates within a tight range in the lower end of the recent range, while the steady activity in US yields motivates the Japanese yen to follow suit for the time being.