Futures Rise With Europe Stocks; Treasuries Gain: Markets Wrap
Bloomberg 1 hr ago Robert Brand
(Bloomberg) U.S. equity futures gained with European stocks on Thursday the Federal Reserve’s commitment to supportive policy helped boost sentiment.
Contracts on the S&P 500 rose after the benchmark’s record close on Wednesday following minutes from the latest Fed meeting, in which officials indicated it would likely be “some time” before they scaled back their asset-purchase program. Treasuries gained while the dollar slipped.
The Stoxx Europe 600 Index tracked U.S. futures higher, on track for a fresh record. Anglo American Plc climbed more than 3% after outlining plans to spin off its South African coal mines. Crude oil fell as the pandemic worsened in key regions just as OPEC+ prepares to add supply over the coming months.
U S futures rise with Europe stocks; dollar slips
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Stocks climbed as Federal Reserve Chairman Jerome Powell said the central bank has the tools to curb any inflation pressures, which are expected to be temporary as the economy reopens.
The S&P 500 notched a fresh record amid slow trading. Volume on U.S. exchanges remained under 10 billion shares, hitting another low for the year. The Nasdaq 100 outperformed major equity benchmarks as giants such as Apple Inc. and Tesla Inc. rallied. Energy producers and banks retreated. Treasuries rose, while the dollar fell.
One day after the Fedâs March minutes struck a dovish tone for the path of monetary policy, Powell said the central bank would react if inflation expectations started âmoving persistently and materiallyâ above levels officials are comfortable with. He also noted that disparate efforts to vaccinate people globally is a risk to progress for the economic rebound, which remains âuneven and incomplete.â