Wednesday, October 4, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home U.S. Markets

Stocks, U.S. Futures Steady Ahead of Fed Testimony: Markets Wrap

MtR by MtR
June 22, 2021
in U.S. Markets
0
Stocks, U.S. Futures Steady Ahead of Fed Testimony: Markets Wrap


(Bloomberg) — Stocks and U.S. futures were little changed Tuesday as investors weighed prospects for economic growth against inflation worries ahead of testimony from Federal Reserve Chair Jerome Powell. Treasuries steadied after a retreat.

European equities fluctuated as gains in energy shares offset a drop in technology shares, while U.S. contracts were steady after the S&P 500 Index’s biggest jump in a month. A gauge of Asian equities rose the most in about three weeks, boosted by Japanese shares.

U.S. 10-year Treasuries steadied, while the dollar trimmed some of Monday’s slide. Yields on longer-dated Treasuries rebounded in the U.S. session Monday, even as short-end rates remained anchored. That undid some of the curve-flattening that swept across markets after Fed officials last week accelerated their expected pace of policy tightening.

Brent oil climbed to $75 a barrel for the first time in more than two years on signs of a rapidly tightening market. Bitcoin sank closer to $30,000 after China intensified its cryptocurrency clampdown.

Investors are parsing policymakers’ statements on stimulus after the Fed’s hawkish tilt last week whipsawed the reflation trade that’s dominated this year. While inflation has picked up “notably” in recent months, it should move back toward the central bank’s 2% target once supply imbalances resolve, Powell reiterated in written remarks prepared for his Tuesday testimony before the House Select Subcommittee on pandemic aid.

Other officials have weighed in too. New York Fed President John Williams said he continues to view the recent spike in inflation as a temporary phenomenon, while his Dallas counterpart Robert Kaplan said he favors starting the process of reducing bond purchases “sooner rather than later.” St. Louis’s James Bullard called it “appropriate” that policy makers opened the taper debate.

“There’s probably going to be some back and forth here,” said Tracie McMillion, Wells Fargo Investment Institute head of global asset allocation strategy. “There is a lot of cash on the sidelines right now. Some of that is going to be earmarked to go into the markets, and we think the best place right now to be investing is in the equity markets.”

For more market commentary, follow the MLIV blog.

Here are some events to watch this week:

Fed Chair Jerome Powell testifies at a House Subcommittee hearing on the Fed’s pandemic emergency lending and its asset purchase programs TuesdayBank of England interest rate decision Thursday

These are some of the main moves in financial markets:

Stocks

The Stoxx Europe 600 fell 0.1% as of 8:18 a.m. London timeFutures on the S&P 500 were little changedFutures on the Nasdaq 100 fell 0.1%Futures on the Dow Jones Industrial Average were little changedThe MSCI Asia Pacific Index rose 1%The MSCI Emerging Markets Index was little changed

Currencies

The Bloomberg Dollar Spot Index rose 0.2%The euro fell 0.1% to $1.1906The Japanese yen was little changed at 110.37 per dollarThe offshore yuan fell 0.1% to 6.4756 per dollarThe British pound fell 0.3% to $1.3898

Bonds

The yield on 10-year Treasuries was little changed at 1.49%Germany’s 10-year yield was little changed at -0.17%Britain’s 10-year yield advanced one basis point to 0.78%

Commodities

Brent crude was little changedSpot gold fell 0.1% to $1,781.40 an ounce

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.



Source link

Related articles

Asia-Pacific stocks, RBNZ, interest rate, 10-year Treasury yield

Asia-Pacific stocks, RBNZ, interest rate, 10-year Treasury yield

October 4, 2023
Crude Oil And Cold Hard Cash Dominate U.S. Markets

Crude Oil And Cold Hard Cash Dominate U.S. Markets

October 4, 2023

Related Posts

Asia-Pacific stocks, RBNZ, interest rate, 10-year Treasury yield

Asia-Pacific stocks, RBNZ, interest rate, 10-year Treasury yield

by MtR
October 4, 2023
0

An Hour AgoThai tourism and leisure shares sink after Bangkok mall shootingThe Stock Exchange of Thailand's Tourism and Leisure Index...

Crude Oil And Cold Hard Cash Dominate U.S. Markets

Crude Oil And Cold Hard Cash Dominate U.S. Markets

by MtR
October 4, 2023
0

Crude oil and low-risk, short-term cashlike investments emerged as the best-performing assets in the July-September quarter, while long-term bonds sold...

Stock Market Has ‘Echoes’ of 1987 Crash, Equities Risk Massive Blow

Stock Market Has ‘Echoes’ of 1987 Crash, Equities Risk Massive Blow

by MtR
October 3, 2023
0

Stocks are following the same path they did ahead of the 1987 stock crash, Societe Generale said.  Investors are bullish...

August job openings top 9.6 million, more than expected as labor market remains strong

August job openings top 9.6 million, more than expected as labor market remains strong

by MtR
October 3, 2023
0

A help wanted sign is posted inside a JCPenney store at The Shops at Tanforan on September 01, 2023 in...

United States Flexible Polyethylene Market Size, Share &

United States Flexible Polyethylene Market Size, Share &

by MtR
October 3, 2023
0

Dublin, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The "U.S. Flexible Polyethylene Market Size, Share & Trends Analysis Report By Grade...

Load More
  • Trending
  • Comments
  • Latest
Bank of England tells ministers to intervene on digital currency ‘programming’

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021
Tips for checking smoke alarms during daylight saving time

Tips for checking smoke alarms during daylight saving time

March 12, 2022
GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021
What will Durham County education bonds pay for? A full list

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0
Investing in Renaissance: Manufacturing-Themed Funds as a Gateway

Investing in Renaissance: Manufacturing-Themed Funds as a Gateway

October 4, 2023
Why Investors Are Pouring Billions Into…

Why Investors Are Pouring Billions Into…

October 4, 2023
England have “rare commodity” to fill Jofra Archer void as World Cup super over hero absent

England have “rare commodity” to fill Jofra Archer void as World Cup super over hero absent

October 4, 2023
Social Currency-famed Sakshi Chopra to enter Salman Khan’s show?

Social Currency-famed Sakshi Chopra to enter Salman Khan’s show?

October 4, 2023

Recent News

Investing in Renaissance: Manufacturing-Themed Funds as a Gateway

Investing in Renaissance: Manufacturing-Themed Funds as a Gateway

October 4, 2023
Why Investors Are Pouring Billions Into…

Why Investors Are Pouring Billions Into…

October 4, 2023
England have “rare commodity” to fill Jofra Archer void as World Cup super over hero absent

England have “rare commodity” to fill Jofra Archer void as World Cup super over hero absent

October 4, 2023

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter