Stock Market Today: Dow, S&P Live Updates for May. 25, 2021 - Bloomberg

unitedstatepolitics.blogspot.com

U.S. equity futures rose Tuesday along with European stocks after Federal Reserve officials played down the risk of persistent inflation. A gauge of dollar strength against a basket of peers headed for the lowest level since January.

The Stoxx Europe 600 index was on track for a fresh record high, with technology stocks among the leading gainers. Vonovia SE fell as much as 6.8% after it agreed to acquire rival Deutsche Wohnen SE for about 19 billion euros ($23 billion) in the biggest-ever takeover in in European real estate, though news of the deal buoyed the sector as a whole.

The Fed comments aided sentiment, as officials reiterated they expect transitory rather than lasting price pressures from the U.S. economic rebound. Treasury yields ticked lower. MSCI Inc.’s Asia-Pacific equity index was set for the highest close in about two weeks as China’s CSI 300 gauge surged more than 3% following Beijing’s efforts to talk down raw material costs.

Fed officials Lael Brainard, Raphael Bostic and James Bullard said they wouldn’t be surprised to see bottlenecks and supply shortages push prices up in coming months as the pandemic recedes, but that much of those gains should be temporary. While market-based measures of inflation expectations have dipped, investors remain cautious about the risk of a pullback in stimulus. They are also monitoring Covid-19 spikes in regions such as Asia.

“Monday’s lethargy seems to have been shaken off after a chorus of Fed voices delivered dovish statements, downplaying arguments for early tightening,” said Nema Ramkhelawan-Bhana, an analyst atRand Merchant Bank in Johannesburg, “Let’s not forget that it only takes one inflation print to unsettle investors or a strong economic figure to guide nominal yields higher. And so the lesson is to make hay while the sun shines.”

Elsewhere, Bitcoin held gains Tuesday after Elon Musk’s effort to bolster the token’s green credentials stoked a rally, extending a bout of marked volatility in the wake of last week’s crypto rout. The largest cryptocurrency remains about $25,000 off its mid-April record.

Oil retreated after the biggest two-day gain since March as investors tracked a recovery in demand that may enable the market to accommodate any fresh flows from Iran should the nation’s nuclear deal be revived.

Here are some events this week:

• 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 on Thursday.

These are some of the main moves in markets:

Stocks

• The Stoxx Europe 600 rose 0.4% as of 9:32 a.m. London time
• Futures on the S&P 500 rose 0.3%
• Futures on the Nasdaq 100 rose 0.5%
• The MSCI Asia Pacific Index rose 1.1%
• The MSCI Emerging Markets Index rose 1.3%

Currencies

• The Bloomberg Dollar Spot Index fell 0.1%
• The euro rose 0.3% to $1.2248
• The Japanese yen was little changed at 108.77 per dollar
• The offshore yuan rose 0.1% to 6.4011 per dollar
• The British pound rose 0.1% to $1.4173

Bonds

• The yield on 10-year Treasuries dipped one basis point to 1.59%
• Germany’s 10-year yield declined one basis point to -0.15%
• Britain’s 10-year yield was little changed at 0.81%

Commodities

• Brent crude fell 0.6% to $68 a barrel
• Spot gold was little changed

— With assistance by Katherine Greifeld, and Andreea Papuc

Adblock test (Why?)

"Market" - Google News
May 25, 2021 at 04:45AM
https://ift.tt/3fhy60r

Stock Market Today: Dow, S&P Live Updates for May. 25, 2021 - Bloomberg
"Market" - Google News
https://ift.tt/2Yge9gs
https://ift.tt/2Wls1p6