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(Bloomberg) — Stocks struggled to gain much traction, with big tech losing steam after a powerful rally driven by the artificial-intelligence euphoria. A feat of multiple records in the world’s biggest equity market drove the S&P 500 briefly above the historic 5,100 mark. Most members of the “Magnificent Seven” group of megacaps came under pressure…
(Bloomberg) — Stocks struggled to gain much traction, with big tech losing steam after a powerful rally driven by the artificial-intelligence euphoria. A feat of multiple records in the world’s biggest equity market drove the S&P 500 briefly above the historic 5,100 mark. Most members of the “Magnificent Seven” group of megacaps came under pressure.…
The US Treasury reduced its estimate for federal borrowing for the current quarter despite a widening in the fiscal deficit — a reduction unexpected by many dealers.
Market observers are expecting Treasury to increase the portion of longer-rated bonds as it did in recent debt-sale plans.
(Bloomberg) -- The US Treasury reduced its estimate for federal borrowing for the current quarter, a move unexpected by many dealers, helping stoke rallies in bonds and stocks Monday.Most Read from BloombergTraders Line Up for ‘Once-in-a-Generation’ Emerging Markets BetTrump Cash Stockpile at Risk From $450 Million Dual VerdictsBlackstone Is Building a $25 Billion Empire of Power-Hungry Data CentersAmazon Drops iRobot Deal; Roomba Maker Cuts 31% of StaffUS Weighs Response to Deadly Drone Attack