Stocks Finish Mixed; Yields Drop From Year Highs: Markets Wrap
Bloomberg 2/17/2021 Kamaron Leach and Claire Ballentine
(Bloomberg) U.S. stocks were mixed and Treasury yields retreated from a one-year high as investors weighed the outlook for economic growth and inflation.
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The benchmark 10-year Treasury yield briefly climbed as high as 1.33% before paring its increase. The S&P 500 Index finished little changed, while the Nasdaq Composite slumped. Chevron Corp. led energy shares higher after Berkshire Hathaway Inc. revealed an increased stake. The Dow Jones Industrial Average closed at a record high. Companies that may have difficulty justifying stretched valuations if rising inflation dents profits bore the brunt of selling high-flying tech shares among them.
Futures Rebound From Overnight Lows As Bond Rout Slows zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
Gold Drops a Fifth Day as Bond Yield Rally Delivers ‘Fatal Blow’
Bloomberg 2/17/2021 Yvonne Yue Li, Ranjeetha Pakiam and Eddie Spence
(Bloomberg) Gold fell to the lowest in more than two months as a stronger dollar and better-than-expected U.S. economic data diminished the appeal of the metal as a haven.
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U.S. retail sales surged in January by the most in seven months, beating all estimates and suggesting fresh stimulus checks helped spur a rebound in household demand. Production at manufacturers also rose by more than forecast, a fourth straight monthly advance that shows factories continue to recover from pandemic-related disruptions.
U S stocks decline; yields touch one-year high 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.