(Bloomberg) U.S. stocks were mixed and benchmark Treasury note yields lingered at 10-month highs as investors mulled the prospects of the economic recovery and vaccine rollout. The S&P 500 was little changed, with energy and consumer discretionary shares leading gainers. Crude oil approached a 11-month high as the dollar weakened following a three-day rally. Corn futures surged by the exchange limit to the highest level for a most-active contract since May 2014. The mood across markets wasn’t overly negative as investors assess how the rise in Treasury yields changes the financial landscape. While progress on a vaccine gives reason to be hopeful, there are lingering concerns over the speculative excess and froth that’s driven stock markets to all-time highs in the middle of a pandemic. “What I think investors are most focused on is the digesting of what is shifting fiscal policy,” said David Bianco, chief investment officer of the Americas at DWS Group. “We’re beginning t
Global stocks, U S futures churn higher as U S dollar steadies
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S&P Futures Rebound Even As Treasury Yields Blow Out Into CTA Redline Territory
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U.S. stocks push higher; greenback weakens versus majors
Claire Ballentine and Kamaron Leach, Bloomberg News
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U.S. stocks edged higher and benchmark Treasury note yields lingered at 10-month highs as investors mulled the prospects of the economic recovery and vaccine rollout.
The S&P 500 was little changed, with energy and consumer discretionary shares leading gainers. The Dow Jones Industrial and Nasdaq Composite were up more than the benchmark index. Crude oil approached a 11-month high as the dollar weakened following a three-day rally. Corn futures surged by the exchange limit to the highest level for a most-active contract since May 2014.
Morgan Stanley strategists have dropped their expectations of near-term weakening in the dollar amid a regime shift in U.S. rates propelled partly by prospects for meaningful fiscal expansion.
“It’s no longer attractive to be positioned for a weaker dollar from here given the uncertainties…