May 28 2021, 2:09 AM
May 27 2021, 3:24 AM
May 28 2021, 2:09 AM
(Bloomberg) Stocks that stand to benefit the most from an economic rebound rallied after solid data spurred a decline in pandemic darlings such as technology companies. Treasuries retreated.
(Bloomberg) Stocks that stand to benefit the most from an economic rebound rallied after solid data spurred a decline in pandemic darlings such as technology companies. Treasuries retreated.
Industrial, financial and commodity shares led gains in the S&P 500. The Russell 2000 of small caps outperformed major equity benchmarks, while the tech-heavy Nasdaq 100 dropped. A news report that President Joe Biden will unveil a budget that would see federal spending jump to $6 trillion in the coming fiscal year also helped sentiment. In late trading, Salesforce.com Inc., the top maker of cloud-based customer relations software, jumped on a strong profit forecast.
(Bloomberg) Wondering where the dollar’s headed as the U.S. deficit keeps growing? Wall Street’s also trying to figure it out.Goldman Sachs Group Inc. sees echoes of one of the weakest periods in the greenback’s recent history. Meanwhile, Morgan Stanley thinks it could actually strengthen.A swelling U.S. current-account deficit is once again a hot debate in the currency market, with implications across asset classes. The gap is the widest since 2008 as a percentage of the economy, and it’s only growing as the U.S. outpaces much of the world in rebounding from the pandemic. The upshot is that more and more dollars are flowing into foreign hands, to either roll back into U.S. assets or be diverted elsewhere.Experts agree on that much. Where they diverge is on the potential repercussions of the current account, the broadest gauge of trade and investment flows in the largest economy on the planet. Forecasters expect the advance goods-trade deficit, which is du
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Treasury yields rose and the dollar weakened.
By Robert Brand and Namitha Jagadeesh, Bloomberg
27 May 2021 13:42
Image: Qilai Shen/Bloomberg
American equity-index futures were mixed on Thursday ahead of key data on the worldâs biggest economy. Treasury yields rose and the dollar weakened.
Contracts on the Nasdaq 100 and S&P 500 dropped, while those on Dow Jones Industrial Average fluctuated. Data on jobs, growth and personal consumption later Thursday will help investors piece together a picture of the economy amid concerns about inflation pressures and prospects for monetary stimulus.
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