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After slumping in the first quarter, gold has been on the mend amid uncertainty over the pace of the global recovery from the pandemic, rising inflation expectations and assurances from the Fed that monetary policy will remain accommodative. Investors may be warming up to the precious metal again, with hedge fund managers increasing their net bullish gold bets to the highest in three months, while data compiled by Bloomberg show holdings in bullion-backed exchange traded funds climbed for a sixth straight day.
Andreea Papuc and Vildana Hajric, Bloomberg News
BNN Bloomberg s mid-morning market update: May 17, 2021 VIDEO SIGN OUT
U.S. equities snapped a two-day rally as investors weighed risks to the outlook including inflation and a spike in COVID-19 cases in parts of the world.
Technology, industrials and financials led the benchmark S&P 500 lower. Apple, Microsoft and Tesla weighed on the Nasdaq 100. Discovery Inc. shares jumped on a deal with AT&T Inc. to merge media assets. Coinbase Global Inc. fell as much as 7.8 per cent to US$238.25, a record low and below the reference price used in its April direct listing. The Stoxx Europe 600 Index was in the green and stocks in Asia were mixed.
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(Bloomberg) Stocks fluctuated and U.S. equity futures slipped on Monday as investors weighed risks to the outlook including inflation and a spike in Covid-19 cases in some parts of the world.
The Stoxx Europe 600 Index traded little changed as gains in automakers offset declines in energy firms. Ryanair Holdings Plc was among the gainers after the airline predicted a strong recovery in the second half. Stocks in Asia were mixed, with shares in Taiwan falling as the country raced to contain its worst outbreak of the coronavirus. U.S. equity futures slipped following Friday’s rally.
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by Tyler Durden
Monday, May 17, 2021 - 07:58 AM
US equity futures and European stocks dipped in a quiet overnight session to start the week amid renewed concerns about rising inflation and a spike in Covid-19 cases in parts of the world. Gold briefly reached a three-month high, while oil and the dollar were little changed; 10Y TSY yields rose after dropping earlier in the session.
At 715am ET, Dow e-minis were down 125 points, or 0.36%, S&P 500 e-minis were down 17 points, or 0.39%, and Nasdaq 100 e-minis were down 46 points, or 0.34%, reversing much of Friday’s rebound.
Wall Street s main indexes rebounded on Thursday and Friday as investors picked up beaten-down stocks following a pullback earlier in the week on concerns around inflation and a possible tightening by the U.S. Federal Reserve. However, the mood reversed on Monday with travel, oil & gas and industrials the weakest sectors, while telecoms and autos were strong. Shares of Discovery jumped 12.5% in premarket tradin
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