Stock Market Today: Dow, S&P Live Updates for May 24, 2021 - Bloomberg

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Most Asian stocks slipped and U.S. equity futures were steady Monday as traders weighed the volatile slump in cryptocurrencies and the inflation outlook. Metals fell as China stepped up its rhetoric on commodities.

Shares edged higher in Japan, but mostly headed lower elsewere, with Hong Kong underperforming. S&P 500 and Nasdaq 100 contracts fluctuated after U.S. stocks closed mixed on Friday. Bitcoin advanced to about $35,500 following another weekend of big price swings.

The stalling commodities boom remains in focus as China tries to temper speculation, with the nation vowing zero tolerance for price violations. Market-based gauges of inflation expectations have declined of late, though concerns linger that the post-pandemic recovery could stoke price pressures and force a pullback in extraordinary central bank support.

Global equities have lost some steam and speculative ardor for riskier investments like Bitcoin has declined after a prolonged rally from pandemic lows. While the economic recovery from the health crisis offers background support for sentiment, investors are wary that policy makers may eventually have to curb stimulus. Some countries also still face Covid-19 spikes.

“It’s going to be a very mixed market over the next several months until we get more information on what’s really going to happen with inflation and how the stimulus in the U.S. affects spending there, but also how the coronavirus really progresses,” JoAnne Feeney, a partner at Advisors Capital Management LLC, said in a Bloomberg TV interview.

Oil traded around $64 a barrel amid further signs the U.S. is recovering from the pandemic. Traders also monitored progress in talks to revive an Iranian nuclear deal that could lead to increased global crude supply.

Here are some events this week week:

• Consensus by CoinDesk brings prominent crypto voices together to discuss NFTs, exchanges and the role of central banks. Fed Governor Lael Brainard and Bridgewater founder Ray Dalio will participate. Through May 27.
• Bank of Indonesia rate decision Tuesday, Reserve Bank of New Zealand policy decision Wednesday, Bank of Korea rate decision Thursday.
• CEOs of the largest U.S. banks, including JPMorgan and Goldman Sachs, will testify before lawmakers in the Senate Banking and House Financial Services committees Wednesday.
• U.S. initial jobless claims, GDP, durable goods, pending home sales, Thursday.

These are some of the main moves in markets:

Stocks

• S&P 500 futures added 0.2% as of 11:55 a.m. in Tokyo. The index dipped less than 0.1% Friday
• Nasdaq 100 contracts were little changed. The gauge fell 0.6% on Friday
• Japan’s Topix index rose 0.4%
• Australia’s S&P/ASX 200 Index fell 0.2%
• South Korea’s Kospi index fell 0.5%
• Hong Kong’s Hang Seng index lost 0.8%
• China’s Shanghai Composite index fell 0.2%
• Euro Stoxx 50 futures were little changed

Currencies

• The Japanese yen was at 108.90 per dollar
• The offshore yuan traded at 6.4349 per dollar
• The Bloomberg Dollar Spot Index was steady
• The euro was at $1.2180

Bonds

• The yield on 10-year Treasuries was little changed at 1.62%
• Australia’s 10-year bond yield fell two basis points to 1.72%

Commodities

• West Texas Intermediate crude rose 0.8% to $64.11 a barrel
• Gold was at $1,883.14 an ounce, up 0.1%

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Stock Market Today: Dow, S&P Live Updates for May 24, 2021 - Bloomberg
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