The dollar extended overnight losses and Treasury yields continued their retreat from a 10-month high as traders mulled investor demand for bonds and the prospect of fiscal spending under Joe Biden. Asian stocks were mixed.
Oil’s red-hot rally took a breather as a stronger dollar and rising refined products supplies offset shrinking U.S. crude inventories, capping the price under a key technical indicator.
U S futures, European stocks Fluctuate as U S dollar climbs 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.
U.S. stocks rise for second day; Treasury yields drop Claire Ballentine and Vildana Hajric, Bloomberg News
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Stocks rose and benchmark Treasury yields retreated for a second day amid optimism the economy will continue to benefit from government support.
Technology shares led gains, with the Nasdaq 100 outperforming the benchmark S&P 500. Intel Corp. jumped 7 per cent after the chipmaker named a new chief executive. Treasury received strong demand for a second consecutive day at a government debt sale, helping to send yields down from the highest levels since March.
âInvestors continue to focus on growing expectations for increased fiscal spending and promising economic prospects as the vaccine rolls out later this year,â said Ryan Nauman, market strategist at Informa Financial Intelligenceâs Zephyr. âItâs all about resiliency here right now and equity markets continue to overlook a