Stocks pare gains amid D.C. protests, still poised for record
Rita Nazareth and Claire Ballentine, Bloomberg News
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U.S. stocks stabilized in the green, though remained well off session highs after protesters surged into the U.S. Capitol, forcing a lockdown that interrupted certification of the presidential election.
The S&P 500 trimmed its advance to 0.6 per cent at the close of trading in New York, after rallying as much as 1.5 per cent earlier Wednesday. Equities had been on track for a record, buoyed by likely Democratic control of Congress that could unleash a torrent of spending to revive growth. That sparked a reflation trade, with investors pouring into small caps and banks, companies that benefit from an economic rebound. Tech shares lagged behind.
U.S. stocks stabilized in the green, though remained well off session highs after protesters surged into the U.S. Capitol, forcing a lockdown that interrupted certification of the presidential election.
The S&P 500 trimmed its advance to 0.6% at the close of trading in New York, after rallying as much as 1.5% earlier Wednesday. Equities had been on track for a record, buoyed by speculation that Democratic control of Congress could unleash a torrent of spending to revive growth. That sparked a reflation trade, with investors pouring into small caps and banks, companies that benefit from an economic rebound. Tech shares lagged behind.
Read more about Gold caps its best year in a decade with the dollar on the ropes on Business Standard. Bullion hit a record in August as investors feared an unprecedented wave of stimulus by central banks and governments would lead to currency debasement and inflation
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(Bloomberg) U.S. equity futures rose with European stocks as upbeat manufacturing data and rising commodities prices boosted risk appetite on the first trading day of 2021.
The Stoxx Europe 600 Index climbed around 1.4%, led by economically-sensitive sectors like mining and travel, after data showed euro-area manufacturing grew the fastest in more than 2 1/2 years in December. Contracts on the S&P 500 Index pointed to further gains after the benchmark closed at a record high.
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