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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
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
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 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. The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. Unofficially, the Dow Jones Industrial Average (.DJI) rose 14.41 points, or 0.04%, to 34,480.65, the S&P 500 (.SPX) gained 8.29 points, or 0.20%, to 4,247.47 and the Nasdaq Composite (.IXIC) added 49.09 points, or 0.35%, to 14,069.42. Among the 11 major sectors in the S&P 500, healthcare suffered the biggest percentage drop.
Persons: Dow, Oliver Pursche, Brendan McDermid, Pursche, Biogen Organizations: U.S . Federal Reserve, Nasdaq, Wealthspire Advisors, Federal Reserve, University of Michigan’s, New York Stock Exchange, REUTERS, Benchmark U.S, Treasury, Drug Administration, Dow Jones, AMC Entertainment, Thomson Locations: New York, New York City, U.S
Wall Street muted as eyes turn to next week's Fed meeting
  + stars: | 2021-06-11 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
"We had a big inflation number this week and the markets seem to be taking it in stride." The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2021. REUTERS/Brendan McDermid"I don’t expect any surprises but I believe the Fed is certainly under a microscope so people will try to ascertain the duration of the current dovish policy," Keator added. Among the 11 major sectors in the S&P 500, rebounding financial stocks (.SPLRCT) and tech (.SPLRCT) were leading the gainers, while healthcare suffered the biggest percentage drop. The S&P 500 posted 29 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 97 new highs and 12 new lows.
Persons: Dow, Matthew Keator, Brendan McDermid, Keator Organizations: U.S . Federal Reserve, Nasdaq, Dow, Keator, Federal Reserve, University of Michigan's, New York Stock Exchange, REUTERS, Benchmark U.S, Treasury, Drug Administration, Dow Jones, AMC Entertainment, NYSE, Thomson Locations: Lenox , Massachusetts, New York City, U.S
(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.) (Updates to market close)June 10 (Reuters) - Wall Street stocks ended firmer on Thursday, with the S&P 500 hitting a record closing high, as economic data appeared to support the Federal Reserve’s assertion that the current wave of heightened inflation will be temporary. All three major U.S. stock indexes advanced, with market-leading megacap stocks putting the Nasdaq out front. Unofficially, the Dow Jones Industrial Average rose 12.21 points, or 0.04%, to 34,459.35, the S&P 500 gained 19.71 points, or 0.47%, to 4,239.26 and the Nasdaq Composite added 106.86 points, or 0.77%, to 14,018.61. Among the 11 major sectors of the S&P 500, healthcare enjoyed the largest percentage gains.
Persons: smallcaps, , Ryan Detrick, Detrick, Joe Biden’s, Stephen Culp, Ambar Warrick, Richard Chang Organizations: Nasdaq, Labor, Financial, U.S . House, Dow Jones, Treasury, GameStop Corp, Clover Health Investments Corp, AMC Entertainment Holdings, Beyond Inc, GEO Group, Boeing, Reuters, United Airlines, Airbus, Pfizer Inc Locations: Charlotte , North Carolina, United
S&P 500 headed for record high as inflation seems temporary
  + stars: | 2021-06-10 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
(Reuters) - Wall Street stocks rose on Thursday, with the S&P 500 on course to hit an all-time closing high, as the much-anticipated consumer price index report signaled that the current inflation wave will be transitory. REUTERS/Brendan McDermidAll three major U.S. stock indexes were higher, with market-leading megacap stocks putting the Nasdaq out front. The Dow Jones Industrial Average rose 126.15 points, or 0.37%, to 34,573.29; the S&P 500 gained 25.09 points, or 0.59%, at 4,244.64; and the Nasdaq Composite added 108.76 points, or 0.78%, at 14,020.51. Among the 11 major sectors of the S&P 500, healthcare enjoyed the largest percentage gains. The S&P 500 posted 57 new 52-week highs and no new lows; the Nasdaq Composite recorded 92 new highs and 11 new lows.
Persons: Brendan McDermid, , Colin Asher, ” Asher, Joe Biden’s, decliners Organizations: Reuters, New York Stock Exchange, REUTERS, Nasdaq, Labor, Mizuho, U.S . House, Dow Jones, Treasury, GameStop Corp, Clover Health Investments Corp, AMC Entertainment Holdings, Beyond Inc, GEO Group, Boeing Co, United Airlines, Boeing, Airbus, Pfizer Inc, NYSE Locations: St, New York City, U.S, London, United
S&P 500 closes at record high as long-term inflation fears abate
  + stars: | 2021-06-10 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
People are seen on Wall St. outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. REUTERS/Brendan McDermidWall Street stocks ended firmer on Thursday, with the S&P 500 (.SPX) hitting a record closing high, as economic data appeared to support the Federal Reserve's assertion that the current wave of heightened inflation will be temporary. All three major U.S. stock indexes advanced, with market-leading megacap stocks putting the Nasdaq (.IXIC) out front. Unofficially, the Dow Jones Industrial Average (.DJI) rose 12.21 points, or 0.04%, to 34,459.35, the S&P 500 (.SPX) gained 19.71 points, or 0.47%, to 4,239.26 and the Nasdaq Composite (.IXIC) added 106.86 points, or 0.77%, to 14,018.61. Among the 11 major sectors of the S&P 500, healthcare (.SPXHC) enjoyed the largest percentage gains.
Persons: Brendan McDermid, Ryan Detrick, Detrick, Joe Biden's Organizations: New York Stock Exchange, REUTERS, Nasdaq, Labor, Financial, U.S . House, Dow Jones, Treasury, GameStop Corp, Clover Health Investments Corp, AMC Entertainment Holdings, Beyond Inc, GEO, Boeing Co, Reuters, United Airlines, Boeing, Airbus, Pfizer Inc, Thomson Locations: St, New York City, U.S, Charlotte , North Carolina, United
Wall Street reverses, closing lower ahead of inflation report
  + stars: | 2021-06-09 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +4 min
NEW YORK (Reuters) - Wall Street stocks ended lower on Wednesday, reversing earlier gains as institutional investors awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy. FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File PhotoThe retail “meme stock” craze continued unabated. However, other meme stocks such as Clover Health, AMC Entertainment and Bed Bath & Beyond reversed course to close lower. “It feels like alternative stock market,” Carlson added.
Persons: Carlo Allegri, , Chuck Carlson, , ” Carlson, Joe Biden, Shelley Capito, Campbell Soup, Biden, Drugmaker Organizations: YORK, U.S . Federal, New York Stock Exchange, REUTERS, Horizon Investment, Aethlon, GEO Group, Wrestling Entertainment, Clover Health, AMC Entertainment, Vanda Research, GameStop Corp, GameStop, Dow, Washington, Representatives, Philadelphia, Labor, Dow Jones, Nasdaq, Treasury, Pfizer Inc, Washington Post, Drugmaker Merck, Co Locations: Manhattan, New York City , New York, U.S, Hammond , Indiana, States
S&P 500 teases record closing high as retail frenzy churns
  + stars: | 2021-06-09 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +4 min
A Wall Street sign is pictured outside the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File PhotoThe S&P 500 (.SPX) hovered near a record closing high on Wednesday, as institutional investors looked to coming inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy. The churn of favored "meme stocks," or heavily shorted stocks involved in a social media-driven retail frenzy, continued its rotation, with Aethlon Medical (AEMD.O) soaring by 429.9%. Among the 11 major sectors in the S&P 500, healthcare was up the most. The S&P 500 posted 35 new 52-week highs and two new lows; the Nasdaq Composite recorded 118 new highs and 11 new lows.
Persons: Carlo Allegri, there's, Tim Ghriskey, We're, Ghriskey, Joe Biden, Shelley Capito, Campbell, Biden Organizations: New York Stock Exchange, REUTERS, U.S . Federal, Inverness, Aethlon, GEO, Wrestling Entertainment, Clover Health, AMC Entertainment, Vanda Research, GameStop Corp, GameStop, Philadelphia, Semiconductor, Labor Department, Dow Jones, Nasdaq, Treasury, Pfizer Inc, Washington Post, Merck, Co, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, New York, Washington, United States
U.S. stocks end lower ahead of inflation report
  + stars: | 2021-06-09 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +4 min
However, other meme stocks such as Clover Health (CLOV.O), AMC Entertainment (AMC.N) and Bed Bath & Beyond (BBBY.O) closed lower. "It feels like alternative stock market," Carlson added. A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. Among the 11 major sectors in the S&P 500, healthcare gained the most. The S&P 500 posted 38 new 52-week highs and two new lows; the Nasdaq Composite recorded 126 new highs and 14 new lows.
Persons: Chuck Carlson, Carlson, Matt Furlong, Joe Biden, Shelley Capito, Shannon Stapleton, Campbell, Biden, Drugmaker, advancers Organizations: U.S . Federal, Horizon Investment, Aethlon, GEO, Wrestling Entertainment, Clover Health, AMC Entertainment, Vanda Research, GameStop Corp, GameStop, U.S, New York Stock Exchange, REUTERS, Representatives, Philadelphia, Semiconductor, Labor, Dow Jones, Nasdaq, Treasury, Pfizer Inc, Washington Post, Drugmaker Merck, Co, NYSE, Thomson Locations: Hammond , Indiana, New, New York City , New York, U.S, Washington, States
(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.) (Updates to market close)NEW YORK, June 8 (Reuters) - Wall Street stocks struggled for closing gains on Tuesday as a lack of clear market catalysts kept institutional investors in a holding pattern, while retail traders kept the rally of so-called meme stocks alive. Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts. Clover Health Investments seized top billing among meme stocks, and ended the session as the largest percentage gainer in the Nasdaq. “(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said.
Persons: We’re, , Paul Nolte, “ There’s, ” Nolte, Smallcaps, , Stephen Culp, Ambar Warrick, Shashank, Richard Chang Organizations: Nasdaq, Amazon.com Inc, Apple Inc, Federal, Kingsview, Management, Clover Health Investments, GameStop Corp, Beyond Inc, U.S . Labor Department and National Federation of Independent, Dow Jones, Tesla, China Passenger Car Association, Boeing Co, Southwest Airlines, GameStop Locations: Chicago, China, Bengaluru
Wall Street languid as 'meme stock' frenzy hogs spotlight
  + stars: | 2021-06-08 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
NEW YORK (Reuters) - Wall Street stocks wavered near the starting line on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders kept the rally of so-called meme stocks alive. FILE PHOTO: A street sign is seen in front of the New York Stock Exchange on Wall Street in New York, February 10, 2009. REUTERS/Eric Thayer/File PhotoAll three major U.S. stock indexes were little changed, with the S&P and the Dow hovering within 1% of their record closing highs. “Barring unexpected events, I would expect stocks to move sideways for the next three to four weeks.”Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts. Clover Health Investments seized top billing among meme stocks, surging 71.8%, the largest percentage gainer in the Nasdaq.
Persons: Eric Thayer, , Oliver Pursche, ” Pursche, ” Smallcaps, decliners Organizations: YORK, New York Stock Exchange, REUTERS, Nasdaq, Amazon.com Inc, Apple Inc, , Wealthspire Advisors, Clover Health Investments, GameStop Corp, Beyond Inc, U.S . Labor Department and National Federation of Independent, Dow Jones, Tesla, China Passenger Car Association, Boeing Co, Southwest Airlines, GameStop, NYSE Locations: New York, China
Wall Street closes little changed as 'meme stocks' extend rally
  + stars: | 2021-06-08 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
NEW YORK (Reuters) - Wall Street stocks struggled for closing gains on Tuesday as a lack of clear market catalysts kept institutional investors in a holding pattern, while retail traders kept the rally of so-called meme stocks alive. FILE PHOTO: A street sign is seen in front of the New York Stock Exchange on Wall Street in New York, February 10, 2009. Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts. Clover Health Investments seized top billing among meme stocks, and ended the session as the largest percentage gainer in the Nasdaq. “(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said.
Persons: Eric Thayer, We’re, , Paul Nolte, “ There’s, ” Nolte, Smallcaps, Organizations: YORK, New York Stock Exchange, REUTERS, Nasdaq, Amazon.com Inc, Apple Inc, Federal, Kingsview, Management, Clover Health Investments, GameStop Corp, Beyond Inc, U.S . Labor Department and National Federation of Independent, Dow Jones, Tesla, China Passenger Car Association, Boeing Co, Southwest Airlines, GameStop Locations: New York, Chicago, China
S&P 500 closes little changed as "meme stocks" extend rally
  + stars: | 2021-06-08 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally. Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts. Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq. Of the 11 major sectors in the S&P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss. The S&P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.
Persons: We’re, , Paul Nolte, “ There’s, ” Nolte, Smallcaps, Eric Thayer, , decliners Organizations: YORK, Dow, Nasdaq, Amazon.com Inc, Apple Inc, Federal, Kingsview, Management, Clover Health Investments, GameStop Corp, Beyond Inc, New York Stock Exchange, REUTERS, U.S . Labor Department and National Federation of Independent, Dow Jones, Tesla, China Passenger Car Association, Boeing Co, Southwest Airlines, GameStop, NYSE Locations: Chicago, New York, China
Wall Street closes little changed as "meme stocks" extend rally
  + stars: | 2021-06-08 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
REUTERS/Eric Thayer/File PhotoWall Street stocks struggled for closing gains on Tuesday as a lack of clear market catalysts kept institutional investors in a holding pattern, while retail traders kept the rally of so-called meme stocks alive. Smallcaps (.RUT), once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts. Clover Health Investments (CLOV.O) seized top billing among meme stocks, and ended the session as the largest percentage gainer in the Nasdaq. "(Meme stocks) are where the action is, but you flip it over and look crypto and that's a mess," Nolte said. "Now the meme stocks are taking over from crypto as the place to be and it's all a consequence of very easy monetary policy."
Persons: Eric Thayer, Paul Nolte, Nolte, Tesla Organizations: New York Stock Exchange, REUTERS, Nasdaq, Amazon.com Inc, Apple Inc, Federal, Kingsview, Management, Clover Health Investments, GameStop Corp, Beyond Inc, U.S . Labor Department and National Federation of Independent, Dow Jones, China Passenger Car Association, Boeing Co, Southwest Airlines, GameStop, Thomson Locations: New York, Chicago, China
S&P closes nominally lower as investors wait for a catalyst
  + stars: | 2021-06-07 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
The Dow closed well within negative territory, while the Nasdaq advanced. Still, the S&P and the Dow remained inside one percentage point of their record closing highs. Of the 11 major sectors in the S&P 500, seven lost ground, with materials suffering the largest percentage drop. The S&P 500 posted 62 new 52-week highs and one new low; the Nasdaq Composite recorded 168 new highs and 21 new lows. Volume on U.S. exchanges was 10.52 billion shares, compared with the 10.71 billion average over the last 20 trading days.
Persons: Dow, , Joseph Sroka, “ There’s, ” Sroka, Smallcaps, “ You’ve, , Janet Yellen, Carlo Allegri, decliners Organizations: YORK, Dow, Nasdaq, AMC Entertainment Holdings, GameStop Corp, Blackberry Ltd, New York Stock, REUTERS, House Democrats, Dow Jones, Biogen Inc, and Drug Administration, QTS Realty Trust, Blackstone, Royal Caribbean, Carnival, Cruise Line, NYSE Locations: Atlanta, Manhattan, New York City , New York, U.S, Washington, Florida, Texas
FILE PHOTO: Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021. REUTERS/Dado Ruvic/IllustrationBitcoin was last up 7% at approximately $37,600, erasing losses of 7.5% from a day earlier but still down by more than 40% from last month’s record high. The catalyst for the Sunday slump was cryptocurrency “miners” - who mint cryptocurrencies by using powerful computers to solve complex maths puzzles - halting Chinese operations in the face of increasing scrutiny from authorities. In the short-term, market players said, that is likely to lead to pressure on prices as miners sell bitcoin held on their balance sheets. Yet after last week’s 25% drop, triggered in part by toughening language from Chinese regulators, bitcoin remains over 40% below last month’s record high of $64,895.
Persons: Dado Ruvic, Bitcoin, Lael Brainard, Raphael Bostic, , Paul Nolte, Nobody’s, Joseph Edwards, “ Crypto, it’s, ” Bitcoin, Tesla, Elon Musk, ” J.P, Morgan Organizations: YORK, REUTERS, Federal, Central Bank Digital, Atlanta Fed, Kingsview, Management, Beijing, Securities Locations: cryptocurrencies, Chicago, China
Cryptocurrencies rebounded on Monday, reclaiming ground lost during a bout of weekend selling that was fuelled by further signs of a Chinese crackdown on the emerging sector. Second-largest cryptocurrency ether jumped more than 17% to as high as $2,459 after slumping more than 8% on Sunday to near a two-month low. In the past week policymakers have stepped up their response to the popularity, and volatility, of cryptocurrencies. read moreThe catalyst for the Sunday slump was cryptocurrency "miners" - who mint cryptocurrencies by using powerful computers to solve complex maths puzzles - halting Chinese operations in the face of increasing scrutiny from authorities. "If they are pulling up stakes or shutting down, they may need to reduce their balance sheets in the short term," said James Quinn, managing partner at Q9 Capital, a Hong Kong-based cryptocurrency private wealth manager.
Persons: Cryptocurrencies, Bitcoin, Lael Brainard, Dado Ruvic Read, James Quinn, Joseph Edwards, Crypto, it's, Tesla, Elon Musk, J.P, Morgan Organizations: Federal, Central Bank Digital, Beijing, REUTERS, Q9, Securities, Thomson Locations: cryptocurrencies, China, Hong Kong
Dollar driven back to multi-month low by risk appetite bounce
  + stars: | 2021-05-20 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
U.S. one dollar and Chinese Yuan are seen in this illustration taken May 7, 2021. REUTERS/Dado Ruvic/IllustrationThe dollar retreated on Thursday, hovering near a multi-month low as a risk-on rally drew investors away from the safe-haven currency, reversing Wednesday's bounce. "The market totally overreacted to them and Treasury yields shot higher." A rally on Wall Street and rebounding cryptocurrencies signaled broad, risk-on sentiment which, along with weakening Treasury yields, helped the dollar erase Wednesday's advance. Canada's robust economy and rising commodity costs have pushed the Canadian dollar to its strongest level against the dollar since 2015.
Persons: Yuan, Dado Ruvic, Ronald Simpson, Simpson, cryptos Organizations: REUTERS, U.S, U.S . Federal, Economics, Thomson Locations: U.S ., Tampa , Florida
Dollar comes down from Fed minutes high
  + stars: | 2021-05-20 | by ( Stephen Culp | ) www.reuters.com sentiment -1.00   time to read: +2 min
NEW YORK (Reuters) - The dollar lost ground on Thursday, hovering just above a multi-month low following Wednesday’s bounce prompted by the release of U.S. Federal Reserve meeting minutes. FILE PHOTO: Bundles of banknotes of U.S. Dollar are pictured at a currency exchange shop in Ciudad Juarez, Mexico January 15, 2018. “(But) the dollar remains on a downward trend in the immediate future.”The dollar index was last down 0.37% at 89.884. That weakness helped boost the Australian dollar which also got a lift from strong April employment data. The euro gained 0.3% to $1.2211 and the dollar fell 0.42% to 108.765 Japanese yen.
Persons: Jose Luis Gonzalez, , Peter Cardillo, Bitcoin, Cardillo Organizations: YORK, . Federal Reserve, REUTERS, Spartan Capital Securities Locations: U.S, Ciudad Juarez, Mexico, New York
Dollar advances as Fed minutes open door to future taper talks
  + stars: | 2021-05-19 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +4 min
FILE PHOTO: U.S. one dollar and Chinese Yuan are seen in this illustration taken May 7, 2021. “The big thing from the Fed minutes is the mention of beginning of taper talks,” said Chris Gaffney, president of world markets at TIAA Bank in St. Louis. Since then, the Fed has repeatedly offered assurances that surging prices in the near term will not translate to long-term inflation. “I expect to see more of the wild roller-coaster ride that we’ve seen going forward.”U.S. Treasury yields hit session highs in the wake of the Fed minutes’ release. The euro reversed course after touching its highest level against the dollar since the beginning of January, falling 0.5% to $1.2164.
Persons: Yuan, Dado Ruvic, , Chris Gaffney, St . Louis, ” Gaffney, , they’ve, ” Bitcoin, ethereum, Gaffney Organizations: YORK, REUTERS, U.S, U.S . Federal, Market, TIAA Bank, Fed, Treasury, RIC Locations: U.S ., St ., bitcoin, U.S, Canada, Norway, Sweden
Dollar steadies ahead of Fed, cryptos plummet after China move
  + stars: | 2021-05-19 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +2 min
But cryptocurrencies took the spotlight, plunging in the wake of regulatory moves from China. The dollar index , which measures the greenback against a basket of world currencies, was last flat at 89.795. UK inflation more than doubled in April to 1.5% from a month earlier, sparking similar concerns over longer-term inflation. The greenback gained 0.2% against the Canadian dollar to $1.208, but was still hovering near its weakest level since May 2015. The euro , which touched its highest against the dollar since the beginning of January, fueled by economic optimism, inched up 0.04% to $1.2229.
Persons: cryptocurrencies, Erik Bregar, Bitcoin, Ethereum, Bregar Organizations: Fed, Exchange Bank of Canada, Federal, Treasury, Thomson Locations: China, cryptocurrencies, Toronto, U.S, Canada
Dollar slides to 2-1/2 month low as Fed rate hike fears subside
  + stars: | 2021-05-18 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +3 min
FILE PHOTO: A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. Those price increases have stoked fears of longer-term inflation, despite the central bank’s assurances that the spikes will be transitory. “As long as the Fed maintains this very dovish policy stance, that’s going to leave the dollar vulnerable,” Manimbo added. The euro gained 0.63% to $1.223, passing its highest level since Feb. 25, and the dollar fell 0.25% to 108.89 Japanese yen. [GBP/]“It’s a good day for the pound,” Manimbo said.
Persons: Dado Ruvic, , Joe Manimbo, Manimbo, , ” Manimbo, Elon Musk Organizations: YORK, Federal Reserve, REUTERS, U.S, Treasury, Western Union Business Solutions, Fed, Bank of England, Tesla Inc Locations: Washington, U.S, Norwegian
Dollar slides to multi-month lows as Fed rate hike fears fade
  + stars: | 2021-05-18 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +2 min
The dollar extended its slide on Tuesday, touching its lowest level since late February, as increased risk appetite lured investors away from the safe-haven greenback. "That’s going to be bearish for the dollar. "Normally everyone gets excited for the Fed minutes, but these minutes are old," Moya said. The euro gained 0.51% to $1.2214, passing its highest level since Feb. 25, and the dollar fell 0.24% to 108.935 Japanese yen . Rising oil prices supported the Norwegian crown and helped boost the Canadian dollar to a six-year high.
Persons: Edward Moya, You'll, Moya, They’re, Elon Musk Organizations: greenback, U.S, Treasury, Federal Reserve, PPI, Tesla Inc, Thomson Locations: New York, U.S, Brexit, Norwegian
Dollar inches lower as Treasury yields hold firm
  + stars: | 2021-05-17 | by ( Stephen Culp | ) www.reuters.com sentiment -1.00   time to read: +2 min
NEW YORK (Reuters) - The dollar edged lower on Monday as inflation jitters, exacerbated by record high prices paid in a regional U.S. manufacturing survey, benefited riskier currencies at the greenback’s expense. FILE PHOTO: U.S. one dollar and Chinese Yuan are seen in this illustration taken May 7, 2021. REUTERS/Dado Ruvic/IllustrationBut the U.S. 10-year Treasury yield was little changed as market participants sought clues regarding the Federal Reserve’s tolerance for near- and medium-term inflation. Strengthening crude oil prices boosted the Canadian dollar but the Norwegian crown lost ground against the greenback. And despite higher metal prices, the Australian dollar also edged lower.
Persons: Yuan, Dado Ruvic, hasn’t, , Marc Chandler, ” Chandler, Chandler, Bitcoin, Elon Musk Organizations: YORK, REUTERS, U.S . Federal, New York Federal Reserve, Tesla Inc Locations: U.S, Bannockburn, New York, Norwegian
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