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Futures rise as focus turns to Fed's inflation stance
  + stars: | 2021-06-14 | by ( Medha Singh | ) www.reuters.com sentiment -0.97   time to read: +1 min
REUTERS/Carlo Allegri/File Photo(Reuters) - S&P 500 futures hit a record high on Monday as focus shifted to the Federal Reserve’s meeting this week, where the central bank is expected to maintain its accommodative stance on monetary policy. Recent data has indicated that the U.S. economy is regaining momentum but not overheating, taming worries about inflation and sending the S&P 500 to an all-time high. The benchmark has climbed 13% this year while the Dow and the Nasdaq have risen 12.6% and 9.2%, respectively. ET, Dow e-minis were up 13 points, or 0.04%, S&P 500 e-minis were up 3 points, or 0.07%, and Nasdaq 100 e-minis were up 34 points, or 0.24%. [O/R]United Airlines Holdings and American Airlines Group rose 0.7% each after Citigroup raised its price target on the stocks.
Persons: Carlo Allegri Organizations: New York Stock Exchange, REUTERS, Fed, Dow, Nasdaq, Dow e, Chevron, Marathon Oil Corp, Schlumberger, Occidental Petroleum, Marathon Petroleum Corp, United Airlines Holdings, American Airlines Group, Citigroup Locations: Manhattan, New York City , New York, U.S, , Wyoming
(Reuters) -The S&P 500 was set to open near a record high on Monday as focus shifted to the Federal Reserve’s meeting this week, where the central bank is expected to maintain its accommodative stance on monetary policy. REUTERS/Carlo Allegri/File PhotoRecent data has indicated that the U.S. economy is regaining momentum but not overheating, taming worries about inflation and sending the S&P 500 to an all-time high. While the Fed has reassured that any spike in inflation would be transitory, policymakers could begin discussing the tapering of bond buying at the Tuesday-Wednesday meeting. The benchmark has climbed 13% this year while the Dow and the Nasdaq have risen 12.6% and 9.2%, respectively. [O/R]United Airlines Holdings and American Airlines Group gained 0.4% and 0.7% respectively after Citigroup raised its price target on the stocks.
Persons: Carlo Allegri, , Thomas Hayes, , Steve Burns, Julio Rodriguez Organizations: Reuters, New York Stock Exchange, REUTERS, Fed, Dow, Nasdaq, Great, Great Hill Capital, , Dow E, Lordstown Motors Corp, Chevron, Marathon Oil Corp, Schlumberger, Occidental Petroleum, Marathon Petroleum Corp, United Airlines Holdings, American Airlines Group, Citigroup, COVID Locations: Manhattan, New York City , New York, U.S, , Wyoming, Great Hill, New York
REUTERS/Carlo Allegri/File PhotoThe S&P 500 and the Dow eased on Monday, a day after the S&P 500 hit a record closing high, as investors awaited cues from the Federal Reserve's meeting this week on the central bank's outlook on inflation and the future of bond purchases. Recent data has indicated that the U.S. economy is regaining momentum but not overheating, taming worries about inflation and sending the S&P 500 (.SPX) to an all-time high. The benchmark has climbed 13% this year while the Dow (.DJI) and the Nasdaq (.IXIC) have risen 12.6% and 9.2%, respectively. Healthcare (.SPXHC) and financials were the biggest drag on the S&P 500 on Monday, while technology (.SPLRCT) and consumer discretionary (.SPLRCD) provided the biggest boost. The S&P 500 posted 16 new 52-week highs and no new low, while the Nasdaq recorded 136 new highs and seven new lows.
Persons: Carlo Allegri, Dow, Thomas Hayes, financials, Steve Burns, Julio Rodriguez, Tesla, Elon Musk Organizations: New York Stock Exchange, REUTERS, Nasdaq, Tesla Inc, Apple Inc, Amazon.com Inc, Fed, Dow, Great, Great Hill Capital, Healthcare, Dow Jones, Lordstown Motors Corp, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, , Wyoming, Great Hill, New York
Stocks Edge Lower After S&P 500 Hits Record
  + stars: | 2021-06-14 | by ( Anna Hirtenstein | ) www.wsj.com sentiment -0.97   time to read: +1 min
U.S. stocks wobbled Monday, pointing to the S&P 500 hovering near a fresh record after it ended last week at an all-time high. The S&P 500 edged 0.1% lower. The broad market gauge has climbed for three consecutive weeks. Stocks have ground higher amid an improving growth outlook in many developed countries and continued central bank support. Investors remain concerned that the Fed’s evolving views on inflation and the labor market could prompt the central bank to scale back easy-money policies sooner than previously expected.
Persons: ” Salman Baig, , Novavax Organizations: Nasdaq, Dow Jones, Federal Reserve, “ Stock Locations: Unigestion
Japanese shares inch higher, Toshiba up after ouster of board directors
  + stars: | 2021-06-14 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
TOKYO, June 14 (Reuters) - Japanese shares rose on Monday as cyclicals such as tyre makers and shippers led gains on global recovery hopes, while Toshiba rose after the company said two of its board directors will retire amid its governance crisis. “Japanese shares are still trailing behind global shares, as earnings recovery is expected to be delayed. Shippers were the top gainers, with Nippon Yusen up 2.3%, followed by tyre makers, among which Bridgestone rose 1.3% and Yokohama Rubber jumped 2.9%. Toshiba gained 2.7% after the conglomerate, which is facing a deepening crisis over corporate governance, said it would change its board director nominees for an upcoming shareholders meeting and its two board directors would retire. Growth-oriented shares outperformed as fall in U.S. bond yields boosted their U.S. peers.
Persons: , Hiroshi Watanabe, Keyence, Kobe Bussan, MUFG, Junko Fujita, Shailesh Kuber Organizations: Toshiba, Nikkei, Nasdaq, Sony Financial Holdings, Nippon Yusen, Bridgestone, Yokohama Rubber, Kobe, U.S, Treasury, Mizuho Financial Group Locations: TOKYO, U.S
U.S. Stock Futures Edge Higher to Start the Week
  + stars: | 2021-06-14 | by ( ) www.wsj.com sentiment -0.99   time to read: +1 min
U.S. stock futures edged up to start the week after the S&P 500 hit another record close and notched its third consecutive week of gains. Futures on the S&P 500 gained 0.1% and futures on the Dow Jones Industrial Average strengthened 0.1%. In Europe, the Stoxx Europe 600 climbed 0.6% in morning trade, and it is at its highest level in a year. Other stock indexes in Europe also mostly climbed as France’s CAC 40 added 0.6%, the U.K.’s FTSE 250 rose 0.5% and Germany’s DAX gained 0.6%. The yield on German 10-year bunds strengthened to minus 0.269% and the 10-year U.K. government debt known as gilts yield gained to 0.713%.
Persons: Germany’s DAX, bunds, Richard B, Levine, Dow Jones, 87990cbe856818d5eddac44c7b1cdeb8 Organizations: Dow Jones, ITV, , CAC, Swiss, U.S ., Brent, Treasury, Nikkei, Nasdaq, Press, Dow Jones & Company, Inc Locations: Europe, Asia, China, Taiwan, Australia
Recovery bets also boosted oil to May 2019 highs as investors apparently view Thursday’s above-forecast U.S. inflation data and surging factory prices in China as temporary or manageable. Goldman Sachs economists said concerns that rising inflation will derail the market recovery or lead to sharply higher bond yields were probably misplaced. “The bond market continues to show a vote of confidence in the Fed remaining patient and lower for longer. The stock market is similarly emboldened and hovering around all-time highs,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina. Many investors expect the Fed to repeat its dovish view at its two-day meeting from Tuesday.
Persons: Goldman Sachs, , Chris Zaccarelli, Bitcoin, VIX Organizations: Reuters, U.S . Federal, Dow Jones, Nasdaq, Fed, Independent, Nikkei, European Central Bank, Elon Musk Locations: U.S, Europe, COVID, China, Charlotte , North Carolina, Asia, Hong Kong, Australia, Pacific, Japan, Xinjiang
TOKYO, June 14 (Reuters) - Japanese shares rose on Monday led by tyre makers and shippers, following the weekend’s solid finish on Wall Street, though gains were capped as investors remained cautions ahead of the U.S. Federal Reserve’s meeting this week. The Nikkei share average gained 0.37% to 29,055.20 by 0203 GMT, after trimming gains of as much as 0.9% earlier in the session. The broader Topix rose 0.19% to 1,957.89. Investors tend to book profits in such an environment,” said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management. Sumitomo Mitsui Financial Group fell 0.2% and Mizuho Financial Group lost 0.77%.
Persons: , Masahiro Ichikawa, Fanuc, Junko Fujita, Shailesh Kuber Organizations: U.S, U.S . Federal, Nikkei, Sumitomo Mitsui DS Asset Management, , , Nasdaq, Bridgestone, Yokohama, Toyo Tire, Shipping, Nippon, Mitsui OSK Lines, Treasury, Sumitomo Mitsui Financial Group, Mizuho Financial, Toshiba, Nintendo, Itochu Locations: TOKYO, U.S ., Japan, Asia, ” U.S
U.S. stock futures were flat Monday after the S&P 500 eked out another record close Friday. The S&P 500 rose 0.4% for the week, notching a three-week winning streak. The Nasdaq 's gain Friday put the tech-heavy index within 0.5% of its record close in late April. The Dow 's slight advance Friday inched the 30-stock average less than 1% closer to last month's record close. (CNBC)AstraZeneca's (AZN) Covid vaccine has a favorable risk/reward profile for all age groups and particularly for those 60 years and older, according to the head of the European Medicines Agency's Covid-19 task force.
Persons: Dow, Bitcoin, Elon Musk, Tesla, Steve Burns, Julio Rodriguez, Lordstown, Novavax, Marco Cavaleri, Boris Johnson, Joe Biden, Biden, Donald Trump, Vladimir Putin, Naftali Bennett, Benjamin Netanyahu, Netanyahu, Jeff Bezos, Mark, Ernie ’, Bert ’ Organizations: Nasdaq, Dow, CNBC, bitcoin, Lordstown Motors, Biotech, FDA, European Medicines, NATO, Sunday, Royal, Shell, Reuters, Washington, Nintendo, Microsoft, Ubisoft, Enix, Origin, Amazon, Shepard Locations: Mexico, India, Covid, Belgium, Brussels, China, Russia, United States, Europe, Geneva, Switzerland, Texas
S&P 500 opens near record high as focus shifts to Fed meet
  + stars: | 2021-06-14 | by ( ) www.reuters.com sentiment -1.00   time to read: 1 min
A Wall Street sign is pictured outside the New York Stock Exchange amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File PhotoThe S&P 500 opened near an all-time high on Monday as focus shifted to the Federal Reserve's meeting this week, where the central bank is expected to maintain its accommodative stance on monetary policy. The S&P 500 (.SPX) fell 0.9 points, or 0.02%, at the open to 4248.31​. The Dow Jones Industrial Average (.DJI) fell 7.1 points, or 0.02%, at the open to 34472.52, while the Nasdaq Composite (.IXIC) rose 14.0 points, or 0.10%, to 14083.467 at the opening bell. Our Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri Organizations: New York Stock Exchange, REUTERS, Dow Jones, Nasdaq, Thomson Locations: Manhattan, New York City , New York, U.S, 14083.467
REUTERS/Carlo Allegri/File PhotoThe S&P 500 was set to open near a record high on Monday as focus shifted to the Federal Reserve’s meeting this week, where the central bank is expected to maintain its accommodative stance on monetary policy. Recent data has indicated that the U.S. economy is regaining momentum but not overheating, taming worries about inflation and sending the S&P 500 (.SPX) to an all-time high. While the Fed has reassured that any spike in inflation would be transitory, policymakers could begin discussing the tapering of bond buying at the Tuesday-Wednesday meeting. The benchmark has climbed 13% this year while the Dow (.DJI) and the Nasdaq (.IXIC) have risen 12.6% and 9.2%, respectively. At 08:24 a.m. EDT, Dow E-minis were down 8 points, or 0.02%, S&P 500 E-minis were up 3 points, or 0.07% and Nasdaq 100 E-minis were up 42.75 points, or 0.31%.
Persons: Carlo Allegri, Thomas Hayes, Steve Burns, Julio Rodriguez Organizations: New York Stock Exchange, REUTERS, Fed, Dow, Nasdaq, Great, Great Hill Capital, Dow E, Lordstown Motors Corp, Chevron, Marathon Oil Corp, Schlumberger, Occidental Petroleum, Marathon Petroleum Corp, United Airlines Holdings, American Airlines Group, Citigroup, COVID, Thomson Locations: Manhattan, New York City , New York, U.S, , Wyoming, Great Hill, New York
With the Nasdaq 100 rebounding and not far off its record highs, several names in the tech-heavy index have fallen through the cracks. Baidu, Splunk, Zoom, Peloton and Tesla are all between 30% and 50% below their 52-week highs. "I really like Peloton because to me, this is a secular success story," said the firm's managing director of FX strategy. "I think Peloton is really going to be sort of the Netflix of the workout world." That's the future digital economy and that's what makes Peloton such a compelling long-term buy," he said.
Persons: Tesla, Boris Schlossberg, Schlossberg, Craig Johnson, Piper Sandler, Johnson Organizations: Nasdaq, Baidu, BK Asset Management, Netflix
High-Speed Trader Virtu Fires Back at Critics Amid Meme-Stock Frenzy
  + stars: | 2021-06-13 | by ( Alexander Osipovich | ) www.wsj.com sentiment -0.99   time to read: +1 min
High-speed trader Virtu Financial Inc. is pushing back against critics in Washington who say the stock market is rigged against small investors. The review will include a practice known as payment for order flow, in which brokerages send many of their customers’ orders to trading firms in exchange for cash payments. Payment for order flow has existed for decades and has come under scrutiny before. They say small investors benefit from the practice because it results in better prices than they would get at public exchanges like the New York Stock Exchange and the Nasdaq Stock Market . Collectively, that saves investors billions of dollars a year, industry data show.
Persons: Gary Gensler, brokerages, Gensler’s, Sean Casten Organizations: Virtu Financial, AMC Entertainment Holdings Inc, GameStop Corp, Securities and Exchange Commission, SEC, GameStop, Markets, New York Stock Exchange, Nasdaq Locations: Washington
Biotech Rally Sparked by Alzheimer’s Drug Has Staying Power
  + stars: | 2021-06-13 | by ( Charley Grant | ) www.wsj.com sentiment -0.99   time to read: +1 min
The Food and Drug Administration gave the green light to Biogen ’s drug Aduhelm on Monday. Eli Lilly , which has a similar Alzheimer’s drug under development, rallied 10% on Monday. Alzheimer’s has been a particularly confounding corner of drug research for decades; a 2018 analysis found that 146 experimental drugs had failed in clinical trials over the past 20 years. The FDA’s decision to approve Aduhelm despite significant concerns over its efficacy changes the outlook for those research efforts. Even the perception of a more forgiving regulatory agency is enough to spark fresh enthusiasm for biotech, and not only for companies with an Alzheimer’s program.
Persons: Eli Lilly, Alzheimer’s Organizations: Drug Administration, FDA, Nasdaq
In April, Insight Partners' Jeff Horing hopped on a flight to Israel for a breakfast with tech CEOs. They're actually coming to ring the bell on the Nasdaq, as Israel's high-growth companies line up to hit the public markets. Last week, collaboration software-as-a-service (SaaS) vendor Monday.com held its IPO and closed on Friday with a market cap of $8.2 billion. The firm owns a 43% stake in Monday.com and controls 32% of WalkMe. Monday.com ranks fifth and WalkMe is poised to crack the top 10.
Persons: Jeff Horing, They're, Horing, Monday.com, WalkMe Organizations: Insight Partners, Nasdaq Locations: Israel, New York, Monday.com, IVC, Herzliya
U.S. stock futures are flat with the S&P 500 at a record high
  + stars: | 2021-06-13 | by ( Maggie Fitzgerald | ) www.cnbc.com + 0.00   time to read: +3 min
U.S. stock futures were steady in overnight trading on Sunday as investors digested the S&P 500's record level heading into a week with a key Federal Reserve meeting. S&P 500 futures rose 0.09% and Nasdaq 100 futures added 0.14%. U.S. stocks ended last week with a record closing high for the S&P 500 and the beginning of a rotation back into growth names. Last week, the 30-stock Dow Jones Industrial Average fell 0.8%, but the S&P 500 rose 0.4%, for its third straight positive week. "Because the S&P 500 Index reached yet another new record high last week, investors will be watching to see if this signals even higher levels near term," said Paulsen.
Persons: Jerome Powell, Jim Paulsen, Paulsen, Elon Musk, Bitcoin, CNBC's Patti Domm Organizations: New York Stock Exchange, Reserve, Dow, Nasdaq, telltale, Leuthold, CNBC, Dow Jones, Treasury, Metrics, AMC Entertainment, Clover Health Investments, GameStop, CNBC Pro
US STOCKS-S&P ekes out gains to close languid week
  + stars: | 2021-06-11 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.) Economically sensitive smallcaps and transports notched solid gains, outperforming the broader market. For the week, the S&P and the Nasdaq advanced from last Friday’s close, while the Dow posted a weekly loss. Much of the focus centered on Thursday’s consumer price data, which eased jitters over the duration of the current inflation wave. Among the 11 major sectors in the S&P 500, healthcare suffered the biggest percentage drop.
Persons: Dow, ” Oliver Pursche, ” Pursche, Stephen Culp, Ambar Warrick, Devik, Matthew Lewis, Cynthia Osterman Organizations: U.S . Federal Reserve, Nasdaq, Wealthspire Advisors, Federal Reserve, University of Michigan’s, Benchmark U.S, Treasury, Drug Administration, Dow Jones, AMC Entertainment Locations: New York, Bengaluru
The pan-regional STOXX Europe 600 index rose 0.7% to a record close, posting its sixth straight session of gains and best weekly performance at 1.1% since early May. “There is a concern that eventually you could get some migration out of stocks into bonds,” Meckler said. Benchmark German 10-year bonds fell 3 basis points to -0.28% and were set for their best week of the year. The dollar index rose 0.54%, with the euro fell 0.55% to $1.2102. Oil prices rose to multi-year highs, heading for a third straight week of gains on the improved outlook for worldwide demand as rising vaccination rates lead to a lifting of pandemic curbs.
Persons: “ You’ve, , Michael James, Rick Meckler, ” Meckler, , Jeremy Gatto Organizations: European Central Bank, Federal Reserve, Wedbush Securities, Cherry Lane Investments, Dow Jones, Nasdaq, Japan, Treasury, Brent Locations: Europe, breakeven, Los Angeles, New Vernon , New Jersey, Asia, Pacific, coronavirus, Unigestion
US STOCKS SNAPSHOT-Wall Street opens slightly higher as inflation fears ebb
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com sentiment -0.92   time to read: 1 min
June 11 (Reuters) - U.S. stocks opened slightly higher on Friday as inflation data calmed concerns over a possible long-term spike in consumer prices, while investors looked to next week’s Federal Reserve meeting for more cues on monetary policy. The Dow Jones Industrial Average rose 33.57 points, or 0.10%, at the open to 34,499.81. The S&P 500 opened higher by 3.72 points, or 0.09%, at 4,242.90, and the Nasdaq Composite gained 10.52 points, or 0.08%, to 14,030.85 at the opening bell. (Reporting by Ambar Warrick in Bengaluru; Editing by Maju Samuel)
Persons: Ambar Warrick, Maju Samuel Organizations: Dow Jones, Nasdaq Locations: Bengaluru
S&P 500 Pares Gains, Aims for Fresh Record
  + stars: | 2021-06-11 | by ( Caitlin Ostroff | ) www.wsj.com sentiment -1.00   time to read: +1 min
The S&P 500 hugged the flatline Friday but remained on track to notch its third consecutive week of gains. The broad stock-market gauge pared its early advance and slipped less than 0.1% in recent trading, a day after closing at a high. The S&P 500 and Nasdaq are on course for modest weekly gains, while the Dow is poised for a slight loss. The Cboe Volatility Index fell to 15.51 in recent trading, on track to close below 16 for the first time since February 2020, before the coronavirus pandemic rattled markets. Money managers are also weighing whether the rise in inflation is likely to be transitory.
Persons: Biden Organizations: Dow Jones Industrial, Nasdaq, Dow
German psychedelic startup Atai targets valuation of $2.3 billion in U.S. IPO
  + stars: | 2021-06-11 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
(Reuters) - Atai Life Sciences B.V., backed by billionaire investor Peter Thiel, said on Friday it was looking to raise as much as $214.3 million through a U.S. initial public offering, targeting a valuation of about $2.3 billion. The Berlin-based biotech startup, which is exploring the use of psychedelic treatments for mental health disorders, said it planned to sell around 14.29 million shares priced between $13 and $15 per share. (bit.ly/3iA5ste)Atai’s co-founder Christian Angermayer is an advocate of the mental health benefits of psychedelics such as psilocybin, the active ingredient in so-called magic mushrooms, for the treatment of depression, anxiety and substance use disorders. Launched in 2018, Atai has raised $362.3 million in cash so far, a regulatory filing showed. Atai will be listed on the Nasdaq and will trade under the ticker symbol “ATAI”.
Persons: Peter Thiel, Atai’s, Christian Angermayer, Atai, Cowen, Berenberg Organizations: Reuters, Sciences, U.S, Nasdaq, Credit Suisse, Citigroup, underwriters Locations: Berlin, U.S
Wall Street ekes out gains to close languid week
  + stars: | 2021-06-11 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
The Nasdaq gained the most among the three major indexes, while the bellwether S&P 500 squeaked its way to a second straight record closing high. For the week, the S&P and the Nasdaq advanced from last Friday’s close, while the Dow posted a small weekly loss. FILE PHOTO: The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. Among the 11 major sectors in the S&P 500, rebounding financial stocks and tech led the gainers, while healthcare suffered the biggest percentage drop. The S&P 500 posted 33 new 52-week highs and one new low; the Nasdaq Composite recorded 108 new highs and 16 new lows.
Persons: Dow, ” Oliver Pursche, ” Pursche, Brendan McDermid Organizations: YORK, U.S . Federal Reserve, Nasdaq, Wealthspire Advisors, Federal Reserve, University of Michigan’s, New York Stock Exchange, REUTERS, Brendan McDermid Benchmark U.S, Treasury, Drug Administration, Dow Jones, AMC Entertainment, NYSE Locations: New York, New York City, U.S
Futures tick higher as inflation fears fade
  + stars: | 2021-06-11 | by ( Ambar Warrick | ) www.reuters.com sentiment -0.99   time to read: +1 min
The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. read moreMuch of the price surge in May came from items such as commodities and airfares, and it is expected to be temporary. S&P 500 E-minis were up 7.25 points, or 0.17 at 06:36 a.m. Dow E-minis were up 77 points, or 0.22%, while Nasdaq 100 E-minis were up 30.25 points, or 0.22%. Stocks favored by small-time investors were set to close higher for the week, even as a rally appeared to be running out of steam on Thursday.
Persons: Brendan McDermid, Dow Jones, Joe Biden's, Stocks Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Thomson Locations: New York City, U.S
The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. With recent data also indicating weakness in the labor market, the Fed is widely expected to maintain accommodative policy, which is positive for stocks and other risk-driven assets. "The commentary will be that they're still focusing on the last two employment reports, which were much weaker than anticipated. "This meeting coming up plus the meeting in late July will probably result in no policy changes, or even contemplation of policy changes." U.S. S&P 500 E-minis were up 5.75 points, or 0.14%, at 08:02 a.m. EDT.
Persons: Brendan McDermid, Sam Stovall, Dow Jones, Joe Biden's, Stocks Organizations: New York Stock Exchange, REUTERS, Research, Dow, Nasdaq, Royal Caribbean Group, Thomson Locations: New York City, U.S, New York, premarket
The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. REUTERS/Brendan McDermidU.S. stock indexes rose slightly on Friday on gains in technology and growth-exposed sectors after inflation data calmed fears over imminent policy tightening by the Federal Reserve. The S&P 500 (.SPX)traded just below a record high of 4,249.74, with heavyweight technology stocks serving as the largest boost. Investors scaled back expectations for early policy tightening by the Fed after May's consumer price data suggested a recent spike in inflation would be transitory. Most of the so-called "meme" stocks rose on Friday.
Persons: Brendan McDermid, Sam Stovall, Dow Jones, Joe Biden's, Stocks Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Fed, Research, Dow Jones, Nasdaq, Dow, Cruise, Royal Caribbean Group, NYSE, Thomson Locations: New York City, U.S, New York
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