May 19 2021, 11:36 AM
May 18 2021, 3:17 AM
May 19 2021, 11:36 AM
(Bloomberg) U.S. stocks declined for a second day with losses steepening in the final 15 minutes of trading as investors weighed the rush to reopen the economy against inflationary pressure from a rise in commodity prices.
(Bloomberg) U.S. stocks declined for a second day with losses steepening in the final 15 minutes of trading as investors weighed the rush to reopen the economy against inflationary pressure from a rise in commodity prices.
All three of the main U.S. equity benchmarks closed lower after megacap technology stocks including Amazon.com Inc., Microsoft Corp. and Alphabet Inc. erased earlier gains. Nine of the main 11 S&P 500 industry groups declined, with energy stocks leading losses as oil prices dropped amid a report that significant progress has been made to revive the U.S.-Iran nuclear deal. AT&T Inc. plunged the most in the benchmark gauge after the company said it plans to spin off its media
Stocks fall for second day on inflation worries - Article
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 tech stocks rise with reopenings in focus - Article
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.
by Tyler Durden
Monday, May 17, 2021 - 09:40 AM
Looking forward at the coming relatively quiet week, the flash PMIs for May (Friday) will be the data highlight but - as DB s Jim Reid notes -
it’s tough to know what they’ll tell us that we don’t already know. Having said that, as we noted previously Deutsche Bank s equity strategist Binky Chadha has previously said that they’ll likely be an equity correction once the ISM rolls over from its current lofty peaks even as growth stays strong.
The ISM has fallen for one month from its peak so it’ll be interesting to see what the flash PMI shows as a guide. April’s composite number was the highest on record at 63.5. The Euro Area composite PMI was at 53.8, the highest since July.