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Maryland police defended officers' actions after viral videos showed them kneeing and deploying Tasers on Black teenagers to enforce a vaping ban on Ocean City's boardwalk. However, Maryland House Speaker Adrienne A. Jones on Monday questioned the use of force over vaping. Local codes ban vaping and smoking there, and a group of teens complied with officers' original commands to stop vaping, officials said. As they walked away, at least one in the group started vaping again, leading to another confrontation, according to the town's statement. Video appeared to show an officer repeatedly thrusting his knee into one teen who was already pinned to the ground by other officers.
Persons: Adrienne A, Jones, vaping, Taizier Griffin, he's, Griffin, Tayvin Griffin, Jessica Barber Organizations: Police, Assistant Patrol, Professional, NBC News Locations: Maryland, Ocean City, Harrisburg , Pennsylvania, Ocean City .
NEW YORK (Reuters) - From lumber prices to wages and inventories: Reading the clues around inflation has turned into an investor obsession. As investors assess the risks of rising prices to financial markets, however, some think the biggest gains in inflation are already in the rear-view mirror. Koesterich thinks inflation will likely run above trend lines well into 2022 given the bottlenecks in global supply chains. Investors who bet on inflation typically move into groups better-positioned to weather price rises, like materials and energy and companies with pricing power. REASONS TO WORRYWhile the majority of investors believe inflation is transitory, according to a Bank of America fund manager survey, worries remain.
Persons: Leah Millis, , Russ Koesterich, Koesterich, Jeff Mayberry, ” Mayberry, Ernesto Ramos, Morgan Stanley, Michael Wilson, Greg Wilensky, Janus Henderson, Wilensky, “ I’m, ” Paul Tudor Jones, ” Morgan, James Gorman, Mohamed El Organizations: YORK, Federal Reserve Board, REUTERS, Employers, Fed, BMO Global Asset Management, Bank of America, U.S, Securities, Tudor Investment Corp, CNBC, ” Morgan Stanley, Allianz, Locations: Washington , U.S, Treasuries
L2N2NR2Q5 read moreAs investors assess the risks of rising prices to financial markets, however, some think the biggest gains in inflation are already in the rear-view mirror. That is in line with the Federal Reserve's notion that inflation will be "transitory." Koesterich thinks inflation will likely run above trend lines well into 2022 given the bottlenecks in global supply chains. REASONS TO WORRYWhile the majority of investors believe inflation is transitory, according to a Bank of America fund manager survey, worries remain. He said he would be "really concerned arguing that inflation is transitory" with inventories at a "record low" while demand is "screaming."
Persons: Leah Millis, Russ Koesterich, Koesterich, Jeff Mayberry, Mayberry, Ernesto Ramos, Morgan Stanley, Michael Wilson, Greg Wilensky, Janus Henderson, Wilensky, Paul Tudor Jones, Morgan, James Gorman, Mohamed El, David Randall, Megan Davies, Dan Grebler Organizations: Board, REUTERS, Employers, BMO Global Asset Management, Bank of America, U.S, Securities, Tudor Investment Corp, CNBC, Morgan Stanley, Allianz, Thomson Locations: Washington , U.S, Treasuries
Chris Jones, the former head of the Arkansas Regional Innovation Hub, a nonprofit organization based in North Little Rock, plans to announce his candidacy Tuesday. Mike Huckabee and who served as press secretary under then-President Donald Trump, and state Attorney General Leslie Rutledge. (Jones' brother, Leon Jones Jr., announced in April he is running for the GOP nomination to replace Rutledge.) Early polling and name recognition have given Sanders an edge, and Trump quickly endorsed her in January through his political action committee. This is important because he's not seen as an outsider," said Najja Baptist, an assistant professor of political science at the University of Arkansas.
Persons: Asa Hutchinson, Trump, Chris Jones, Atlanta — Jones, Jones, Anthony Bland, Sarah Huckabee Sanders, Mike Huckabee, Donald Trump, General Leslie Rutledge, Leon Jones Jr, Rutledge, Sanders, overreach, he's, Heather Yates, Baptist Organizations: Arkansas Gov, Morehouse College, Massachusetts Institute of Technology, NBC, Democratic, Gov, GOP, University of Arkansas, University of Central Locations: Arkansas, North Little, Atlanta, University of Central Arkansas
US STOCKS SNAPSHOT-Wall St subdued at open with Fed meeting in focus
  + stars: | 2021-06-15 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
June 15 (Reuters) - Wall Street’s main indexes were largely unchanged at the open on Tuesday as investors awaited cues from the Federal Reserve this week about whether a recent jump in inflation would prompt a sooner-than-expected tapering in monetary policy. The Dow Jones Industrial Average rose 3.35 points, or 0.01%, at the open to 34,397.10, the S&P 500 opened higher by 0.13 points, or 0.00%, at 4,255.28, while the Nasdaq Composite dropped 7.51 points, or 0.05%, to 14,166.64 at the opening bell. (Reporting by Shashank Nayar in Bengaluru; Editing by Maju Samuel)
Persons: Shashank, Maju Samuel Organizations: Federal Reserve, Dow Jones, Nasdaq Locations: Bengaluru
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) The benchmark S&P 500, the blue-chip Dow Jones and the tech-stocks focused Nasdaq have gained 13.3%, 12.3% and 10%, respectively so far this year, largely driven by optimism about an economic reopening. ET, Dow e-minis were up 17 points, or 0.05%, S&P 500 e-minis were up 4 points, or 0.09%, and Nasdaq 100 e-minis were up 10 points, or 0.07%. Drug developer Ocugen jumped nearly 20% as it prepares for potential commercial manufacturing of the Covaxin for the U.S. and Canadian markets. Halliburton Co, Occidental Petroleum Corp and Exxon Mobil added between 0.8% and 1.7% as oil prices hit multi-year highs on positive demand outlook.
Persons: Dow Jones, , Larry Adam, Raymond James, , Ocugen, Shashank, Maju Samuel Organizations: U.S, Dow, Nasdaq, Federal Reserve, Treasury, Dow e, Biogen Inc, Halliburton Co, Occidental Petroleum Corp, Exxon Mobil Locations: U.S, pare, Bengaluru
The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021. Data showed an acceleration in producer prices last month as supply chains struggle to meet demand that is being unleashed by the reopening of the economy. Energy stocks (.SPNY) added 1.5% as oil prices hit multi-year highs on positive demand outlook. Declining issues outnumbered advancers for a 1.64-to-1 ratio on the NYSE and for a 2.28-to-1 ratio on the Nasdaq. The S&P index recorded 31 new 52-week highs and one new low, while the Nasdaq recorded 66 new highs and 17 new lows.
Persons: Carlo Allegri, Ocugen, Sam Stovall, Dow Jones, advancers, Shashank, Maju Samuel Organizations: New York Stock, REUTERS, U.S, Dow, Nasdaq, Federal, Assurance, Treasury, CFRA, Dow Jones, Energy, Biogen Inc, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, United States, Canada, Bengaluru
Futures hold steady with Fed meeting in focus
  + stars: | 2021-06-15 | by ( Shashank Nayar | ) www.reuters.com sentiment -1.00   time to read: +2 min
The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File PhotoFutures tied to the S&P 500 and the Nasdaq held near record highs on Tuesday as investors looked for comments from the Federal Reserve about whether a recent jump in inflation would prompt a sooner-than-expected tapering in monetary policy. Assurance from the Fed that rising prices are transitory coupled with falling U.S. Treasury yields have helped ease some concerns over inflation but investors remain cautious as they await the Fed's commentary on its inflation stance. ET, Dow e-minis were down 10 points, or 0.03%, S&P 500 e-minis were up 2.75 points, or 0.06%, and Nasdaq 100 e-minis were up 16.75 points, or 0.12%. Later in the day, investors would turn to purchaser price numbers and retail sales data to assess the state of the economy and inflation levels.
Persons: Carlo Allegri, Dow Jones Organizations: New York Stock, REUTERS, Nasdaq, Federal Reserve, Treasury, Dow e, Biogen Inc, Thomson Locations: Manhattan, New York City , New York, U.S, pare
Britain urges EU to 'expedite' financial services talks
  + stars: | 2021-06-15 | by ( Huw Jones | ) www.reuters.com + 0.00   time to read: +3 min
Tolga Akmen/Pool via REUTERS//File PhotoBritain's finance ministry has called on the European Union to open talks on financial services after the London Stock Exchange urged the bloc to avoid a retreat into protectionism. Britain left the EU in December, largely cutting off the City of London's financial services centre from the bloc. A pressing issue for Britain is that EU permission for the London Stock Exchange to keep clearing euro derivatives for EU customers expires in June next year, potentially fragmenting a major market. The EU wants to directly supervise euro clearing and bolster its "strategic autonomy" to avoid reliance on the City in financial services. "I think it's critically important for the EU to remain open and to resist the protectionist temptation," London Stock Exchange Chief Executive David Schwimmer told a separate European Financial Services conference.
Persons: David Schwimmer, Tolga, Banks, Katharine Braddick, Schwimmer, Braddick Organizations: London Stock Exchange, Change, Guildhall, REUTERS, European Union, EU, European Commission, Britain, Deutsche, City, Financial Services, Thomson Locations: London, Britain, Europe, Frankfurt
European markets head for higher open ahead of Fed meeting
  + stars: | 2021-06-15 | by ( Holly Ellyatt | ) www.cnbc.com sentiment -0.94   time to read: +1 min
LONDON — European stocks are expected to open in positive territory on Tuesday as investors await the start of the U.S. Federal Reserve's latest monetary policy meeting. London's FTSE is seen opening 13 points higher at 7,168, Germany's DAX 47 points higher at 15,740, France's CAC 40 up 17 points at 6,631 and Italy's FTSE MIB 34 points higher at 25,778, according to IG. The positive start expected in Europe diverges from more mixed sentiment elsewhere overnight. Billionaire hedge fund manager Paul Tudor Jones told CNBC on Monday that this Fed meeting could be the most important in Chairman Jerome Powell's career. Jones also warned that Powell could spark a big sell-off in risk assets if he doesn't do a good job of signaling a taper.
Persons: Germany's DAX, Paul Tudor Jones, Jerome Powell's, Jones, Powell Organizations: U.S, U.S . Federal, FTSE, CAC, IG, Billionaire, CNBC Locations: U.S ., Europe, Asia, Pacific
Treasury yields fall despite investor anticipation over Fed meeting
  + stars: | 2021-06-15 | by ( Vicky Mckeever | ) www.cnbc.com + 0.00   time to read: +2 min
Treasury yields fell on Tuesday morning, despite anticipation over what the Federal Reserve will say in its two-day policy meeting, which kicks off later in the day. The yield on the benchmark 10-year Treasury note fell less than a basis point to 1.484% at 4 a.m. TreasurysThe Federal Open Market Committee's two-day policy meeting wraps up on Wednesday afternoon, followed by a press conference with Fed Chairman Jerome Powell. Wilding added that PIMCO's base case remained that the Fed would announce a tapering of bond purchases at its December meeting. In terms of data due out on Tuesday, May's Producer Price Index is expected to be released at 8:30 a.m.
Persons: Jerome Powell, Tiffany Wilding, Wilding, Powell, May's, Dow Jones Organizations: Federal Reserve, Treasury, Fed, PPI, NY Empire, National Association of Home Builders Locations:
On a monthly basis, the producer price index for final demand rose 0.8%, ahead of the Dow Jones estimate of 0.5%. Goods inflation continued to be the dominant inflation force, rising 1.5% as opposed to a 0.6% increase in services. Though services continued to be a lower contributor to overall producer price pressures, the index rose for the fifth straight month. The higher numbers likely will add to an ongoing debate over whether the inflation pressures over the past several months will last. Building material and garden supply sales tumbled 5.9% for the month, while miscellaneous store sales were off 5% and general merchandise sales fell 3.3%.
Persons: Dow Jones, Brian Moynihan, Paul Tudor Jones Organizations: Labor Department, of Labor Statistics, Census Bureau, Goods, PPI, BLS, Federal Reserve, Bank of America, CNBC Locations: U.S
Paul Tudor Jones praised bitcoin and warned about rising inflation. Billionaire investor Paul Tudor Jones trumpeted bitcoin, expressed concern about the "Buffett indicator" hitting record highs, and called on the Federal Reserve to take inflation seriously in a CNBC interview this week. Here are Jones' 10 best quotes from the interview, lightly edited and condensed for clarity:1. "If the Fed treats rising inflation with nonchalance, then it's a green light to go all-in on the inflation trades. If we ever got retail investors actually nervous about inflation, those things can double or triple with no problem whatsoever."
Persons: Paul Tudor Jones, bitcoin, Jones, Paul Tudor Jones trumpeted bitcoin, Warren, You've Organizations: Federal Reserve, CNBC, Tudor Investment Corporation, Fed, Commodities Locations: bitcoin
The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File PhotoU.S. stocks eased on Tuesday after the S&P 500 hit a record high earlier in the session, as investors awaited cues from the Federal Reserve about whether a recent jump in inflation would prompt a sooner-than-expected tapering in monetary policy. The benchmark S&P 500 (.SPX), the blue-chip Dow Jones (.DJI) and the tech-stocks focused Nasdaq (.IXIC) have gained 13.3%, 12.3% and 10%, respectively so far this year, largely driven by optimism about an economic reopening. "The big thing that people are going to focus on are the new projections, particularly on inflation." The S&P index recorded 28 new 52-week highs and no new low, while the Nasdaq recorded 48 new highs and nine new lows.
Persons: Carlo Allegri, Dow Jones, Larry Adam, Raymond James, advancers Organizations: New York Stock, REUTERS, Federal Reserve, Treasury, Dow Jones, Nasdaq, Energy, Biogen Inc, U.S, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, pare
Wall St subdued at open with Fed meeting in focus
  + stars: | 2021-06-15 | by ( ) www.reuters.com sentiment -0.99   time to read: 1 min
The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File PhotoWall Street's main indexes were largely unchanged at the open on Tuesday as investors awaited cues from the Federal Reserve this week about whether a recent jump in inflation would prompt a sooner-than-expected tapering in monetary policy. The Dow Jones Industrial Average (.DJI) rose 3.35 points, or 0.01%, at the open to 34,397.10, the S&P 500 (.SPX) opened higher by 0.13 points, or 0.00%, at 4,255.28, while the Nasdaq Composite (.IXIC) dropped 7.51 points, or 0.05%, to 14,166.64 at the opening bell. Our Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri Organizations: New York Stock, REUTERS, Federal Reserve, Dow Jones, Nasdaq, Thomson Locations: Manhattan, New York City , New York, U.S
CNBC's Jim Cramer on Tuesday warned about the stock market implications of Federal Reserve Chairman Jerome Powell's upcoming post-meeting news conference. Powell "has been saying, 'I'm going to stay the course, stay the course.' Cramer also reiterated that he shares Powell's inflation outlook, believing the rise in prices is likely to be temporary during the Covid recovery, justifying the Fed's near-zero interest rates and asset purchase program. Jones told CNBC on Monday the central bank's credibility is at stake if its inflation forecasts prove to be incorrect. Last week, Druckenmiller suggested that investors and traders will continue to ignore inflation and other risks "until the Fed stops canceling market signals."
Persons: CNBC's Jim Cramer, Jerome Powell's, Cramer, Powell, Jay, CNBC's Andrew Ross Sorkin, Stanley Druckenmiller, Paul Tudor Jones, Jones, Druckenmiller Organizations: Federal, The Labor Department, PPI, Fed, CNBC Locations: U.S
Carlos Betancourt is the co-founder of BKCoin Capital, a $65 million-asset crypto hedge fund. He breaks down three under-the-radar drivers that could shortly reboot the crypto bull market. He shares why he thinks El Salvador's acceptance of bitcoin as legal tender is "extremely powerful." While big-name investors and influential individuals tend to move the markets, Betancourt believes that there have been some positive developments flying under the radar in the crypto market that could really reboot the bull market . "But we continue to be bullish, we still think that we are in a bull market and there's a good chance that we'll see all-time highs again before the end of the year."
Persons: Carlos Betancourt, El, Betancourt, " Betancourt, Satoshi Nakamoto, What's, Elon, Musk, Tesla, Paul Tudor Jones, bitcoin, Dan Tapiero, Solana, Andreessen Horowitz, Ethereum's, We've, Kevin Kang Organizations: BKCoin, Financial District, Bitcoin, Tesla, Holdings, Solana Labs, Polychain, MicroStrategy Locations: New York City, bitcoin, China, Paris, Latin America, El Salvador
They told us to expect more M&A and more SPAC deals in the coming months. Special-purpose acquisition companies, aka SPACs or blank-check companies, have also provided midsize US cannabis companies opportunities to go public by bypassing the traditional initial-public-offering process. Courtesy of Bennett JonesTo understand the future of cannabis M&A, Insider interviewed seven top lawyers who've advised on some of the industry's bigger deals. The global market for medical and recreational cannabis products is expected to hit $104 billion by 2024, according to Prohibition Partners, a market intelligence firm. Cassels partner Litchen said she expects more "large scale" M&A between Canadian companies like Tilray and Canopy Growth and US cannabis companies as the US moves closer to federal legalization.
Persons: who've, Aaron Sonshine, Bennett Jones, Adam Eidinger, Bill Clark, Biden, Stefanie Fogel, DLA Piper, DLA Piper Stefanie Fogel, we'll, Fogel, Jonathan Sherman, Cassels Brock, Blackwell, Sherman, That's, Cassels —, Jamie Litchen —, It's, they're, Crystal Cox, Kathleen Keilty, Blake, Cassels, Graydon, Keilty, Norbert Knutel, Knutel, we've, Steve Tonsfeldt, Cooley, Cooley Steve Tonsfeldt, Tilray, Litchen, Jorge SIlva, Sonshine Organizations: Aphria, Harvest Health, Recreation, Caliva, Left Coast Ventures, Biden, Democratic, Partners, Georgia Senate, White House, Congress, of Columbia Marijuana, Capitol, Getty Images, Senate, US Food and Drug Administration, Holdings, Origin Locations: Canada
Investors are on edge awaiting what the Federal Reserve will say Wednesday following its policy meeting, with some expecting a chance the central bank triggers another infamous "taper tantrum." In 2013, the Fed said it would taper off its Great Recession economic stimulus by slowing down the pace of its Treasury bond purchases. As the Fed now considers how it will wean the economy off of its current quantitative easing in response to the Covid pandemic crisis, investors worry about history repeating itself with another taper tantrum. CNBC PRO identified top-performing stocks during the last taper tantrum period from May 2013 to the end of that year. At least 75% of analysts say these stocks are buys today and are projecting, on average, big gains in the stocks over the next 12 months.
Persons: Jerome Powell, Paul Tudor Jones, Jones Organizations: Federal, Washington , DC, Federal Reserve, CNBC, Fed, CNBC PRO Locations: Washington ,
Long before that, Kucinich was the so-called “Boy Mayor” of Cleveland — at 31, the youngest ever elected to the job in 1977. And now, at age 74, he aims to complete the circle with a bid to become Cleveland’s oldest mayor. "I love Cleveland," Kucinich said at his launch event, flanked by his wife, Elizabeth, and supporters holding his trademark yellow "Dennis!" Mayor Frank Jackson, who has held the title longer than anyone else, is stepping aside after 16 years. If he wins, Kucinich would qualify as Cleveland’s oldest mayor soon after taking office, surpassing Jackson, who is older by several days.
Persons: CLEVELAND — Dennis Kucinich, George W, Bush . Long, Kucinich, , Cleveland, Elizabeth, Frank Jackson, Jackson, Kevin Kelley, Sen, Sandra Williams, Basheer Jones, Justin Bibb, Zack Reed, Marcy Kaptur, Kaptur, Bernie Sanders, Richard Cordray Organizations: firebrand, of Peace, Cleveland —, Cleveland Police Department, City, Ohio Senate, Democratic Rep, Fox, Democratic, Ohio Locations: Cleveland, Cleveland’s, Toledo
Top G7 development banks pledge $80 billion for African firms
  + stars: | 2021-06-14 | by ( Marc Jones | ) www.reuters.com sentiment -1.00   time to read: +2 min
LONDON, June 14 (Reuters) - Top development banks from the world’s richest countries made a landmark joint pledge on Monday to pump $80 billion into African companies and projects over the next five years. The International Monetary Fund has estimated sub-Saharan Africa will need an additional $425 billion between now and 2025 to fight COVID-19 and reduce poverty levels now being exacerbated by the pandemic. The region is also being hit hard by climate change and Monday’s $80 billion pledge was the first time the Development Finance Institutions (DFI) from the United States, Europe and other Group of Seven wealthy nations have made a collective commitment to the African continent. Monday’s pledge followed the G7’s weekend promise to provide 1 billion COVID-19 vaccine doses to poorer countries over the next year and news that they were also looking at reallocating another $100 billion from the IMF’s war chest to help with the economic fallout. The scheme has faced setbacks though: production glitches, a lack of support from wealthy nations and a recent move by India, the biggest vaccine manufacturer, to curb its exports following its own massive spike in cases.
Persons: COVID, David Marchick, Biden, Werner Hoyer Organizations: Monetary Fund, Finance, U.S . International Development Finance Corporation, European Investment Bank, World Health Organization, WHO Locations: Saharan Africa, United States, Europe, Africa, India
SEC Hires Boston College Professor as Top Corporate Regulator
  + stars: | 2021-06-14 | by ( Dave Michaels | ) www.wsj.com + 0.67   time to read: +1 min
WASHINGTON—The Securities and Exchange Commission said it had hired Renee Jones, a Boston College law professor, as its top staff regulator of public companies. The division has a leading role in drafting a planned rule proposal that would require public companies to reveal more about the risks and impacts of climate change on their business. Ms. Jones, 56 years old, will replace the division’s acting director, John Coates, also 56, who will take over as the agency’s general counsel, the SEC said in a news release. Ms. Jones, a graduate of Harvard Law School, has taught classes on securities regulation, corporate governance and financial regulation. Ms. Jones wrote in a law review article in 2010 that while the financial crisis had damaged the SEC’s credibility, the regulator was likely to emerge “as a stronger and more capable regulator.”Write to Dave Michaels at dave.michaels@wsj.com
Persons: WASHINGTON, Renee Jones, Jones, John Coates, Dave Michaels Organizations: The Securities, Exchange Commission, Boston College, SEC, Harvard Law School
AMC jumps more than 18%, other 'meme stocks' mixed
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +2 min
Slideshow ( 2 images )AMC’s shares were recently up 18.3% at around $58.50 after edging 3% higher last week. The company said in a filing last week that over 80% of its shares were held by retail investors. GameStop’s shares were recently down more than 3% but are up 1,100% this year, while AMC’s have risen around 2,650%. AMC options volume was brisk, with 630,000 contracts traded by 11:40 a.m. (1540 GMT), Trade Alert data showed. Options that expire on Friday made up nearly 40% of the trading, with call options that make money if AMC shares rise north of $55, $60 and $70 trading in heavy volume.
Persons: GameStop’s, Paul Tudor Jones, , let’s, ” Tudor Jones Organizations: Reuters, AMC Entertainment Holdings, AMC, GameStop, Tudor Investment Corp, CNBC, COVID, Corsair Gaming Locations: U.S
Stocks tread water as investors await Fed policy insights
  + stars: | 2021-06-14 | by ( Pete Schroeder | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/StaffGlobal stock markets were mixed while U.S. Treasury yields ticked up on Monday, as investors waited for the results of a Federal Reserve policy meeting before making any major new bets. Analysts said the central bank will have to tread a fine line, laying out its strategy for exiting extreme accommodation without spooking investors. read moreGold prices dipped as investors prepared for a possible Fed exit strategy. Spot gold prices fell $10.6705, or 0.57%, to $1,865.97 an ounce. Oil prices ended mostly unchanged Monday, after investors drove prices to their highest levels in over two years in anticipation of surging demand.
Persons: Jerome Powell's, Patrick Leary, Brent, Bitcoin, Elon Musk Organizations: REUTERS, Staff Global, U.S, Treasury, Federal Reserve, Dow Jones, Nasdaq, Fed, . West Texas Intermediate, Tesla Inc, Thomson Locations: Frankfurt, Germany
S&P 500 and Dow slip as upcoming Fed meeting looms
  + stars: | 2021-06-14 | by ( Medha Singh | David French | ) www.reuters.com + 0.00   time to read: +3 min
(Reuters) - The S&P 500 and the Dow dipped on Monday, with the former coming off a record closing high in the previous session as a lack of catalysts ahead of this week’s Federal Reserve meeting kept investors from making new significant bets. The S&P benchmark has climbed 13% this year, while the Dow and the Nasdaq have risen 12% and 9.6%, respectively. Materials and financials were the biggest drags on the S&P 500 on Monday, while technology and consumer discretionary were the only sectors in positive territory. By 2:00PM ET, the Dow Jones Industrial Average fell 256.18 points, or 0.74%, to 34,223.42, the S&P 500 lost 10.99 points, or 0.26%, to 4,236.45 and the Nasdaq Composite added 64.61 points, or 0.46%, to 14,134.03. The S&P 500 posted 29 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 120 new highs and 20 new lows.
Persons: Dow, Carlo Allegri, , Max Gokhman, Steve Burns, Julio Rodriguez, Tesla, Elon Musk Organizations: Reuters, Reserve, New York Stock Exchange, REUTERS, Tesla Inc, Apple Inc, Amazon.com Inc, Investors, Fed, Dow, Nasdaq, Life Fund, Dow Jones, Lordstown Motors Corp Locations: Manhattan, New York City , New York, U.S, , Wyoming, Newport Beach , California
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