(Bloomberg) Technology companies led a rebound in U.S. equities on Thursday after a report showing applications for state unemployment insurance fell last week to a fresh pandemic low rekindled optimism in the economic recovery. The Nasdaq 100 Index led all of the main U.S. benchmarks higher in early trading, led by Apple Inc. and Microsoft Corp. Eight of the main 11 S&P 500 industry groups climbed, with tech stocks rallying the most. Cisco Systems Inc. fell after its profit forecast missed estimates. European equities rebounded from a two-week low as carmakers and financial-services firms led gains. Asian shares were little changed. The latest jobs report comes after mounting concern that faster inflation will prompt authorities to ease back on stimulus has weighed on risk assets in recent sessions. Minutes from the Federal Reserve’s last meeting showed some officials were open to a debate at “upcoming meetings” on scaling back bond purchases if the U.S. economy continued to p
U S futures fall as stocks steady; Treasuries up bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Technology companies led a rebound in U.S. equities on Thursday after a report showing applications for state unemployment insurance fell last week to a fresh pandemic low rekindled optimism in the economic recovery. The Nasdaq 100 Index climbed to a two-week high, with gains in megacaps Apple Inc., Microsoft Corp. and Tesla Corp. powering the advance. Tech stocks rose the most in the S&P 500 as 10 of the main 11 industry groups climbed. Cisco Systems Inc. fell as its profit forecast missed estimates. European equities rebounded from a two-week low as carmakers and financial-services firms led gains. Cryptocurrencies rose after wild swings in Bitcoin on Wednesday. The latest jobs report comes after mounting concern that faster inflation will prompt authorities to ease back on stimulus has weighed on risk assets in recent sessions. Minutes from the Federal Reserve’s last meeting showed some officials were open to a debate at “upcoming meetings” on scaling back bond p
Techs lead U S equity rebound after jobs report - Article bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) U.S. futures fell and stocks were mixed Thursday as investors weighed the prospect of reduced stimulus against signs of economic progress. Treasuries rose and oil reversed gains. Contracts on key U.S. benchmarks declined, signaling a fourth day of losses for the S&P 500 Index. Cisco Systems Inc. fell after its profit forecast missed estimates. European equities pared gains to trade modestly higher, boosted by technology and other defensive sectors, while Asian shares were little changed. Oil reversed an earlier gain to extend a three-week low as investors focused on the prospect of a boost in Iranian supply. Yields on 10-year Treasuries fell as the dollar weakened. Cryptocurrencies stabilized after a volatile session that saw Bitcoin plunge and rally about 30% in the same day. Investor worry that faster inflation will prompt authorities to ease back on stimulus has weighed on risk assets in recent sessions. Stocks have been volatile since a record reached in early May, an