Thursday, 20 May 2021 07:27 AM MYT
The Dow Jones Industrial Average fell 164.62 points, or 0.48 per cent, to 33,896.04, the S&P 500 lost 12.15 points, or 0.29 per cent, to 4,115.68 and the Nasdaq Composite dropped 3.90 points, or 0.03 per cent, to 13,299.74. Reuters file pic
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NEW YORK, May 20 ― Wall Street s main indexes closed lower yesterday after minutes from an April Federal Reserve meeting showed participants agreed the US economy remained far from the central bank s goals, with some considering discussions on tapering its bond buying program.
The S&P 500 added to losses after the release of the minutes revealed a number of Fed policymakers thought that if the economy continued rapid progress, it would become appropriate “at some point” in upcoming meetings to begin discussing a tapering of the Fed s monthly purchases of government bonds, a policy designed to keep long-term interest rat
(CAN), Marathon Patent Group, Inc (NASDAQ:MARA) - Why Bitcoin Mining Stocks Are Trading Higher Today
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BusinessWall St set to snap 3-day losing streak after fewer weekly jobless claims
Medha SinghShashank Nayar
5 minute read
The front facade of the New York Stock Exchange (NYSE) is seen in New York City, U.S., May 4, 2021. REUTERS/Brendan McDermid/File Photo
Wall Street s main indexes rebounded after a three-day slide on Thursday, helped by gains in technology stocks,as the smallest weekly jobless claims since the start of a pandemic-driven recessionbolstered risk appetite.
The Dow s gains were curbed by a 2.8% drop in shares of Cisco Systems Inc (CSCO.O) after the network gear maker cautioned that supply chain issues will linger through the end of 2021 and forecast its current-quarter profit below estimates. read more
by Tyler Durden
Thursday, May 20, 2021 - 08:00 AM
While a far cry from yesterday s morning rout, global stocks struggled for traction on Thursday after a jittery session on Wall Street where cryptocurrencies crashed and a hint of tapering talk from the U.S. Federal Reserve drove selling in the bond market and lifted the safe-haven dollar.
S&P futures dropped overnight for the 4th straight session after minutes from Fed’s meeting last month showed some officials were open to a debate at “upcoming meetings” on scaling back bond purchases if the U.S. economy continued to progress rapidly, while the ongoing rout in cryptos has not helped sentiment, and just like cryptos futures rebounded from their worst levels (yes, we once again live in a bizarro cojoined world where moves in cryptos move the broader market).
US STOCKS-Wall Street on track to snap 3-day losing streak as technology stocks rise Reuters 2 hrs ago By Echo Wang
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)
Popular Searches Ralph Lauren slides as forecast falls short of estimates Indexes up: Dow 0.67%, S&P 1.1%, Nasdaq 1.73% (Adds comment, details; updates prices)
By Echo Wang
May 20 (Reuters) - Wall Street s main indexes rebounded after a three-day slide on Thursday, driven by gains in technology stocks as the smallest weekly jobless claims since the start of a pandemic-driven recession lifted the mood.
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