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People are seen on Wall St. outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. His remarks came two days after Fed officials projected interest rate hikes as soon as 2023, even while vowing to keep up strong monetary support while the economy recovered. Following Bullard's comments, the U.S. dollar index jumped to 92.270, the highest in more than two months, and U.S. 10-year Treasury yields climbed back above 1.5% after Thursday's drop. The dollar was heading for its best week in nearly nine months as investors priced in sooner-than-expected ending to extraordinary U.S. monetary stimulus. Higher expectations of inflation continued to lift long-dated U.S. Treasury yields.
Persons: Brendan McDermid, James Bullard, Ned Rumpeltin, James McGlew, Thyagaraju Adinarayan, Andrew Galbraith, Tom Westbrook, Alexander Smith, Mark Potter Organizations: New York Stock Exchange, REUTERS, Federal Reserve, U.S, Treasury, Dow Jones, Nasdaq, Louis Federal Reserve, CNBC, TD Securities, Argonaut, Bank of England, Brent, Wednesday, Wednesday . U.S . West Texas, Thomson Locations: St, New York City, U.S, Europe, Perth, Wednesday .
Chinese blue-chip A-shares swung between gains and losses before ending flat, while Taiwan shares lost 0.41%. Gold prices, which plunged following the Fed comments on Wednesday, edged higher but were still set for their worst week since March 2020. Hopes for a strong U.S. recovery pushed technology stocks higher on Thursday, lifting the Nasdaq Composite up 0.87%. But worries about inflation and higher rates weighed on the broader market, with the S&P 500 edging down 0.04%. Oil prices took a hit from the strong dollar as concerns over demand and new Iranian supply also weighed.
Persons: , James McGlew, DAX, Richard Franulovich Organizations: Nikkei, U.S . Federal Reserve, Fed, Argonaut, CAC, Japan’s Nikkei, Nasdaq, Dow Jones, Westpac, , Treasury, Brent, Wednesday, Wednesday . U.S . West Texas Locations: Asia, Japan, SHANGHAI, U.S, Perth, Pacific, Taiwan, Wednesday .
Asian shares slip, dollar up on higher rates outlook
  + stars: | 2021-06-18 | by ( Andrew Galbraith | ) www.reuters.com + 0.00   time to read: +4 min
European stock futures pointed to small declines at the open, with pan-region Euro Stoxx 50 futures down 0.02%, DAX futures falling 0.06%, FTSE futures inching 0.01% lower, and CAC 40 futures easing 0.02%. Chinese blue-chip A-shares (.CSI300) swung between gains and losses before ending flat, while Taiwan shares (.TWII) lost 0.41%. read moreHopes for a strong U.S. recovery pushed technology stocks higher on Thursday, lifting the Nasdaq Composite (.IXIC) up 0.87%. But worries about inflation and higher rates weighed on the broader market, with the S&P 500 (.SPX) edging down 0.04%. Oil prices took a hit from the strong dollar as concerns over demand and new Iranian supply also weighed.
Persons: James McGlew, DAX, Richard Franulovich, Andrew Galbraith, Tom Westbrook, Christopher Cushing, Edwina Gibbs, Ana Nicolaci da Organizations: REUTERS, Nikkei, U.S . Federal Reserve, Fed, Argonaut, CAC, Japan's Nikkei, Nasdaq, Dow Jones, Westpac, Treasury, Brent, Wednesday, Wednesday . U.S . West Texas, Thomson Locations: Frankfurt, Germany, Asia, Japan, SHANGHAI, U.S, Perth, Pacific, Taiwan, Wednesday ., Singapore, Ana Nicolaci da Costa
Asian shares slip, deepen weekly loss after hawkish Fed
  + stars: | 2021-06-18 | by ( Andrew Galbraith | ) www.reuters.com + 0.00   time to read: +3 min
MSCI’s broadest index of Asia-Pacific shares outside Japan gave up early gains to dip 0.22%, extending declines into a fifth session. Chinese blue-chip A shares fell 0.36% and Taiwan shares lost 0.22%, but Hong Kong’s Hang Seng index rose 0.49% and Seoul’s KOSPI was up 0.13%. Gold prices, which plunged following the Fed comments on Wednesday, edged higher but were still set for their worst week since March 2020. The dollar index climbed 0.09% to 91.958, not far off Thursday’s more than two-month peak of 92.010 following the Fed meeting. Oil prices took a hit from the strong dollar as concerns over demand and new Iranian supply also weighed.
Persons: Tyrone Siu, , James McGlew, KOSPI, Richard Franulovich Organizations: Treasury, U.S . Federal, REUTERS, Argonaut, Japan, Japan’s Nikkei, Nasdaq, Dow Jones, Westpac, , Brent, Wednesday, Wednesday . U.S . West Texas Locations: SHANGHAI, Hong Kong, China, U.S, Perth, Asia, Pacific, Taiwan, Wednesday .
Wall Street heads for weak open as investors review recovery bets
  + stars: | 2021-06-18 | by ( Huw Jones | ) www.reuters.com + 0.00   time to read: +5 min
LONDON (Reuters) - Wall Street headed for a weak start on Friday as investors reassessed their bets on recovery plays after the U.S. Federal Reserve’s hawkish stance further fuelled the dollar, while denting prices of commodities and other reflation plays. FILE PHOTO: The front facade of the New York Stock Exchange (NYSE) is seen in New York City, U.S., May 4, 2021. Those comments sent the U.S. dollar index to 92.074, the highest in more than two months, and U.S. 10-year Treasury yields back above 1.5% after Thursday’s drop. The dollar was heading for its best week in nearly nine months as investors priced in a sooner-than-expected ending to extraordinary U.S. monetary stimulus. Gold prices, which plunged following the Fed comments, edged higher but were still set for their worst week since March 2020.
Persons: Brendan McDermid, James Bullard, , Ned Rumpeltin, ” Rumpeltin, Marija Vertimane, ” Vertimane, Goldman Sachs, James McGlew Organizations: U.S, U.S . Federal, New York Stock Exchange, REUTERS, Louis Federal Reserve, CNBC, TD Securities, Treasury, State Street Global, Argonaut, Bank of England, Japan’s Nikkei, Brent, Wednesday, Wednesday . U.S . West Texas Locations: U.S ., New York City, U.S, Europe, Paris, Frankfurt, Stocks, London, Perth, Asia, Pacific, Japan, Wednesday .
U.S. West Texas Intermediate (WTI) crude futures were down 39 cents, or 0.6%, at $70.65 a barrel, after retreating 1.5% on Thursday. On Wednesday, Brent settled at its highest price since April 2019 while WTI settled at its highest since October 2018. The dollar has rocketed in the two sessions since the U.S. Federal Reserve projected possible rate hikes in 2023, earlier than market watchers previously expected. A rising dollar makes oil more expensive in other currencies, curbing demand. 1/3 A crude oil tanker is seen at Qingdao Port, Shandong province, China, April 21, 2019.
Persons: WTI, Brent, Kelvin Wong, Jason Lee, Justin Smirk, Smirk, Sonali Paul, Christopher Cushing Organizations: MELBOURNE, U.S, Brent, . West Texas, U.S . Federal Reserve, CMC Markets, REUTERS, Westpac, ANZ Research, Thomson Locations: United States, Singapore, Qingdao Port, Shandong province, China, Britain, Tehran, Washington, Iran
Oil falls amid dollar strength; demand picture still bullish
  + stars: | 2021-06-18 | by ( Noah Browning | ) www.reuters.com + 0.00   time to read: +2 min
U.S. West Texas Intermediate (WTI) crude futures were down 53 cents, or 0.8%, at $70.51 a barrel, after retreating 1.5% on Thursday and is also set to be flat on the week. On Wednesday, Brent settled at its highest price since April 2019 while WTI settled at its highest since October 2018. 1/3 A crude oil tanker is seen at Qingdao Port, Shandong province, China, April 21, 2019. REUTERS/Jason Lee/File Photo Read MoreThe dollar has rocketed in the two sessions since the U.S. Federal Reserve projected possible rate hikes in 2023, earlier than market watchers previously expected. A rising dollar makes oil more expensive in other currencies, curbing demand.
Persons: Brent, WTI, Jeffrey Halley, Jason Lee, Justin Smirk, Smirk, Sonali Paul, Christopher Cushing Organizations: MELBOURNE, U.S, Brent, . West Texas, OANDA, REUTERS, U.S . Federal Reserve, Westpac, Thomson Locations: United States, Qingdao Port, Shandong province, China, Britain, Tehran, Washington, Iran
Oil falls 1% amid dollar strength; demand picture still bullish
  + stars: | 2021-06-18 | by ( Noah Browning | ) www.reuters.com sentiment -0.98   time to read: +2 min
U.S. West Texas Intermediate (WTI) crude futures were down 84 cents, or 1.2%, at $70.20 a barrel. "Formidable U.S. Dollar strength following the Fed's hawkish shift is dominating the oil market heading towards the weekend," said Sophie Griffiths, market analyst at OANDA. "The bullish trend in oil remains intact, thanks to optimism surrounding the demand outlook. 1/3 A crude oil tanker is seen at Qingdao Port, Shandong province, China, April 21, 2019. A rising dollar makes oil more expensive in other currencies, curbing demand.
Persons: Brent, WTI, Sophie Griffiths, Jason Lee, Justin Smirk, Smirk, Sonali Paul, Christopher Cushing Organizations: MELBOURNE, U.S, Brent, . West Texas, Formidable, REUTERS, U.S . Federal Reserve, Westpac, Thomson Locations: United States, Qingdao Port, Shandong province, China, Britain, Tehran, Washington, Iran
Summary Brent, U.S. crude on track for weekly gainsComing Up: U.S. oil rig count from Baker Hughes 1 p.m. EDTMELBOURNE, June 18 (Reuters) - Oil prices rose on Friday, reversing early losses after OPEC sources said the producer group expected limited U.S. oil output growth this year despite rising prices. OPEC officials got the U.S. production outlook from industry experts, OPEC sources said. U.S. West Texas Intermediate (WTI) crude futures were up 67 cents, or 0.93% to $71.71 a barrel. 1/3 A crude oil tanker is seen at Qingdao Port, Shandong province, China, April 21, 2019. OPEC heard from more forecasters on the outlook for 2021 and 2022 at a separate meeting on Thursday.
Persons: Brent, Baker Hughes, Phil Flynn, WTI, Jason Lee, Sonali Paul, Christopher Cushing Organizations: MELBOURNE, . West Texas, Price Futures Group, ., REUTERS, Reuters, OPEC's Economic, Board, Thomson Locations: U.S, Chicago, Qingdao Port, Shandong province, China, Tehran, Washington, Iran
Oil slips again on surging U.S. dollar, but holds above $70
  + stars: | 2021-06-18 | by ( ) www.cnbc.com sentiment -0.99   time to read: +2 min
An off-shore oil platform off the coast in Huntington Beach, California on April 5, 2020. On Wednesday, Brent settled at its highest price since April 2019 while WTI settled at its highest since October 2018. The dollar has rocketed in the two sessions since the U.S. Federal Reserve projected possible rate hikes in 2023, earlier than market watchers previously expected. A rising dollar makes oil more expensive in other currencies, curbing demand. Oil prices also fell after Britain on Thursday reported its biggest daily rise in new cases of COVID-19 since Feb. 19, with government figures showing 11,007 new infections versus 9,055 a day earlier.
Persons: Brent, WTI, Justin Smirk, Smirk Organizations: U.S, Brent, . West Texas, U.S . Federal Reserve, Westpac, ANZ Research Locations: Huntington Beach , California, United States, Britain, Tehran, Washington, Iran
Asian shares up but set for weekly loss after hawkish Fed
  + stars: | 2021-06-18 | by ( Andrew Galbraith | ) www.reuters.com + 0.00   time to read: +3 min
Gold prices, which plunged following the Fed comments, edged higher but were still set for their worst week since March 2020. But worries about inflation and higher rates weighed on the broader market, with the S&P 500 (.SPX) edging down 0.04%. Higher expectations of inflation continued to lift long-dated U.S. Treasury yields. The dollar, which soared to more than two-month highs following the Fed meeting, gave up some ground on Friday. The dollar index was 0.04% lower at 91.843.
Persons: Tyrone Siu, HSI, Seoul's, James McGlew, Mark Zandi, Andrew Galbraith, Christopher Cushing Organizations: REUTERS, Nikkei, SHANGHAI, U.S, U.S . Federal Reserve, Argonaut, Nasdaq, Dow Jones, Moody's, Treasury, Brent, . West Texas, Thomson Locations: Hong Kong, China, Asia, Japan, U.S, Pacific, Perth
Economist David Rosenberg said gold and energy producers are undervalued based on historical ratios. Commodity prices have rocketed higher this year as a reviving global economy developed an insatiable appetite for lumber, natural gas, and precious metals. Rosenberg compared historical valuations of commodity producers to their corresponding indexes by normalizing them relative to their underlying commodity prices to spot value. Shares of gold producers would need to climb 59% for their valuation to match their historical average, the note said, adding that energy producers have 19% upside. Rosenberg said gold and energy producers can advance even if commodity prices level out and become range-bound.
Persons: David Rosenberg, Goldman Sachs, Rosenberg, GDX, XOP, that's Organizations: Commodities, JPMorgan, Federal Reserve, Treasury, Federal, Gold Miners, P Oil & Gas Exploration, Production, . Oil drillers, West Texas
As Fed fallout fades, stocks left hanging near highs
  + stars: | 2021-06-18 | by ( Huw Jones | ) www.reuters.com + 0.00   time to read: +5 min
The pan-European STOXX index (.STOXX) of shares eased 0.19% to 458.50 points, barely below Monday's record high of 460.51. "What has the Fed said that is particularly upsetting in terms of the outlook for interest rates and monetary policy? read moreGold prices, which plunged following the Fed comments, edged higher but were still set for their worst week since March 2020. Hopes for a strong U.S. recovery pushed technology stocks higher on Thursday, lifting the Nasdaq Composite (.IXIC) up 0.87%. But worries about inflation and higher rates weighed on the broader market, with the S&P 500 (.SPX) edging down 0.04%.
Persons: Tyrone Siu, Michael Hewson, Hewson, James McGlew, Andrew Galbraith, Tom Westbrook, Christopher Cushing, Edwina Gibbs, Alexander Smith Organizations: REUTERS, Bank of England, CMC Markets, Tesco, Argonaut, Japan's Nikkei, Nasdaq, Dow Jones, Treasury, Brent, Wednesday, Wednesday . U.S . West Texas, Thomson Locations: Hong Kong, China, . Federal, Paris, Frankfurt, Stocks, London, U.S, Perth, Europe, Asia, Pacific, Japan, Wednesday .
That crude price increase came despite an upcoming election in Iran that could scuttle nuclear talks and leave U.S. sanction on Iran's oil exports in place. Brent futures fell $1.18, or 1.6%, to $73.21 a barrel by 11:19 a.m. EDT (1519 GMT), while U.S. West Texas Intermediate (WTI) crude fell $1.07, or 1.5%, to $71.08. On Wednesday, Brent settled at its highest since April 2019 and WTI at its highest since October 2018. 1/3 An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. read moreSaudi Arabia's April crude oil exports fell to their lowest level since June 2020, official data showed.
Persons: Raisi, Brent, Richard Carson, Ebrahim Raisi, Commerzbank, Jessica Jaganathan, Ana Nicolaci da Organizations: U.S, U.S ., Federal Reserve, West Texas, Department of Energy, Strategic Petroleum Reserve, REUTERS, Washington, Thomson Locations: Iran, SINGAPORE, Freeport , Texas, U.S, United States, Saudi, Ana Nicolaci da Costa
Oil demand worries resurfaced after new coronavirus cases jumped in Britain, while supply concerns over the return of Iranian barrels also weighed on the market. Traders, however, said Friday'spresidential elections in Iran could scuttle nuclear talks between Washington and Tehran and leave U.S. sanction on Iran's oil exports in place. read moreA firmer greenback makes oil more expensive in other currencies, which could dent demand. read more1/3 An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. read moreAnalysts have said Iran could boost oil supplies by 1 million to 2 million barrels per day (bpd) if sanctions are lifted.
Persons: Raisi, Brent, Thursday's, Richard Carson, Edward Moya, Ebrahim Raisi, Hassan Rouhani, Bob Yawger, Jessica Jaganathan, Ana Nicolaci da Organizations: U.S, U.S . Federal Reserve, Traders, West Texas, Department of Energy, Strategic Petroleum Reserve, REUTERS, Mizuho, New York ., Thomson Locations: Iran, SINGAPORE, Britain, Washington, Tehran, Freeport , Texas, U.S, Europe, New York, New York . Washington, United States, Ana Nicolaci da Costa
FILE PHOTO: People are seen on Wall St. outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. The Dow was down 426.27 points, or 1.26%, the S&P 500 lost 37.79 points, or 0.90%, and the Nasdaq Composite dropped 83.11 points, or 0.59%. Bullard’s remarks came two days after Fed officials projected interest rate hikes as soon as 2023. The index is on pace for a weekly gain of about 2%, its best weekly jump in about 14 months. U.S. gold futures were down 0.14% to $1,772.90 an ounce.
Persons: Brendan McDermid, Stocks, James Bullard, Dow, Bullard’s, , Elyse, Goldman Sachs, Vishal Vivek, John Marshall Organizations: WASHINGTON, Federal Reserve, New York Stock Exchange, REUTERS, Dow, Nasdaq, U.S, Morgan Private Bank, Brent, West Texas, Treasury Locations: U.S, St, New York City
Fed update weighs down Wall Street, adds fuel to the dollar
  + stars: | 2021-06-16 | by ( Pete Schroeder | ) www.reuters.com + 0.00   time to read: +3 min
The Dow Jones Industrial Average fell 533.37 points, or 1.58%, marking the worst week for the blue-chip index since January. The S&P 500 lost 55.41 points, or 1.31%, and the Nasdaq Composite dropped 130.97 points, or 0.92%. The MSCI world equity index, which tracks shares in 45 nations, fell 8.87 points or 1.24%. The Fed stance provided fuel to the U.S. dollar, as the dollar index, which tracks the greenback against six major currencies, jumped 0.43% on Friday to 92.314, its highest price since mid-April. Spot gold was down 0.61% to $1,762.63 per ounce, with prices down roughly 5.7% on the week.
Persons: Louis, James Bullard, Neel Kashkari, “ I’m, I’m, , Tim Ghriskey, Edward Moya, ” Long Organizations: WASHINGTON, U.S . Federal Reserve, Dow Jones, Nasdaq, Louis Fed, Minneapolis Federal, Fed, Inverness, U.S ., Brent, . West Texas, OANDA, Treasury Locations: U.S, New York
The energy sector is up nearly 47% this year as oil prices steadily climb. Energy demand has sharply rebounded this year as the world reopens after pandemic-induced lockdowns in 2020 slowed global travel and economic activity to a halt. But despite the massive move higher in energy stocks there's still time to get in on the action, according to Goldman Sachs strategists led by managing partner Neil Mehta. Given this favorable backdrop, Goldman's team highlighted 21 energy stocks that it believes will outperform, noting that each has catalysts besides rising oil prices. The list of 21 stocks the Goldman team believes will outperform the rest of the energy sector as oil prices rise is below, along with accompanying commentary from the analysts.
Persons: Goldman Sachs, it's, Neil Mehta, WTI, Brent, Goldman, Mehta, Refiners Organizations: West Texas Intermediate, Brent, Colonial Pipeline, Companies, Canadian Oils, Energy Services, Oils, Majors, . Energy Services Locations: Suez, OPEC
The Amazon That Customers Don’t See
  + stars: | 2021-06-15 | by ( June | ) www.nytimes.com + 0.00   time to read: +74 min
After five years at Amazon, Mr. Palmer felt the company’s success did not accrue to workers like him. As the virus arrived at JFK8, Mr. Palmer worried about how Amazon would protect and communicate with workers. To reverse the trend and serve its customers, Amazon would have to find a way to bring back workers. Amazon competitors 60% Amazon 40 20 0 Jan. 2020 Feb. March April May June July Amazon Amazon competitors 60% 40 20 0 Jan. 2020 Feb. March April May June July Amazon competitors 60% Amazon 40 20 0 Jan. 2020 Feb. March April May June July Source: Rakuten IntelligenceMr. Stroup’s worried how Amazon would summon workers back. “Everyone in your community, every third person, has worked at Amazon,” Mr. Stroup said.
Persons: Jeff Bezos, Traci Weishalla, Derrick Palmer, Alberto Castillo, Paul Stroup, Sarah Blesener, Ruth Fremson, Chang W, Lee, Ann Castillo, Ms, Castillo, Alberto, , Mr, Ann, “ Haven’t, , JFK8, Louis, , Bezos, Kelly Nantel, Agboka, David Niekerk, Niekerk, Adama Ndoye, Dawn George, “ I’m, Dan Cavagnaro, Cavagnaro, Dave Sanders, Weishalla, JFK8 “, Arthur Turner, yearned, Chris Smalls, Spencer Platt, Palmer, Dave Clark, Clark, didn’t, Smalls, stowing, somebody’s, Elizabeth Warren, Stroup, ” Ms, ” Mr, Stroup’s, “ I’d, Dave, , We’ve, Covid, ’ ”, Nantel, Beth Galetti, Dangelo Padilla, Padilla, Dali, Amazon, Doctors, Christine Hernandez, Brian Olsavsky, ’ ” “, let's, ” Dayana Santos, Santos, you’ve, , couldn’t, Thalia Morales, Morales, Tiara Mangroo, Keanu Bushell, Kevin Michelus, “ I’ve, Read, ” H.R, ” “, Mangroo wasn’t, Michelus, The New York Times Keanu Bushell, John Phillips, Stephen Ojo, stow, “ It’s, Patrick Gallahue, galvanizing Amazon’s, unionize, Jeff Bezos ’, Weishalla’s, we’ve, Dayana Santos Organizations: Amazon, The New York Times, New York Times, New York, New York City, The Times, Times, Bronx Manhattan Times Square Queens, Brooklyn JFK8, Bronx, Manhattan Queens, Manhattan Times Square Queens, New York City Department of Information Technology, Telecommunications, The New York, Yorkers, Getty, Employees, , Management, Black, Workers, U.S, Alaskan, , New, Mr, Walmart, Target, Resources, H.R, Rakuten, Board Workers, of Associates, Staff, New York Times Workers, The New York Times Health, FC, Twitter, T.O.T, ” Workers, JFK8, Force, Starbucks, . Census, MWPVL, LinkedIn, Shopify, Facebook, WIN, JFK, rehiring Locations: New York, America’s, Staten Island, New York City, Castillo, JFK8, Alabama, St, America, Staten, Seattle, New, United States, Philippines, New Jersey, Illinois, Walmart’s U.S, Queens, U.S, West Texas, Amazon, Dallas, Europe, , San José, Costa Rica, Costa Rican, Pune, India, terminations, Bessemer, Ala, Birmingham, Brooklyn, Multnomah County, Cuyahoga County , Ohio, Richmond County, N.Y, Cuyahoga County , Ohio Richmond County, Ore, York City, Connecticut, Ohio
Bitcoin-focused investors are losing out on the potential of other assets like oil, Rich Bernstein said. People don't care even though oil is riding high in a bull market, he said. Investment adviser Rich Bernstein said in a CNBC interview Monday that bitcoin is a bubble, and crypto mania is making investors ignore other asset classes that have more potential. And oil has been in a bull market , and it's basically, you never hear anything about it. "We've got this major bull market going on in commodities, and all people are saying is that it doesn't matter," he said.
Persons: Rich Bernstein, Bitcoin, Brent, Bernstein, Richard Bernstein, CNBC's, it's, We've, Goldman Sachs, bitcoin's, industrials, Read Organizations: Bell, Investment, CNBC, Richard Bernstein Advisors, West Texas, Wall, titans
MacKenzie Scott knows that by virtue of being one of the richest people alive, she can command attention. I want to de-emphasize privileged voices and cede focus to others, yet I know some media stories will focus on wealth," Scott writes in her Medium post published Tuesday. This is equally — perhaps especially — true when their work is funded by wealth," Scott writes. "In just one year of active philanthropy, Scott has outshined her peers by miles," the Forbes ranking said. Scott shared, in her Medium post, a line from a poem by Rumi to summarize her efforts: "A candle as it diminishes explains, Gathering more and more is not the way.
Persons: MacKenzie Scott, Jeff Bezos, Scott, Charles H, Scott's, Dan Jewett, Forbes, Rumi Organizations: Forbes, Alaska Native Heritage Center, Wright Museum of, Dance Theatre of, Arts Fund, Philanthropic, for Racial Equity, Southwest Texas Junior College, Intel Locations: Alaska, Dance Theatre of Harlem , Maine, Mexico
US stocks slipped from record highs as investors mulled the disappointing retail sales ahead of the FOMC's two-day meeting. The 10-year Treasury yield has hovered near 1.5% for most of the day. US retail sales fell 1.3% in May, the Census Bureau. Meanwhile, investors continue to weigh inflationary pressures ahead of the FOMC decision due Wednesday. The 10-year Treasury yield hovered near 1.5% for most of the day.
Persons: Marcus Dewsnap, it's, bitcoin, Brent, Lumber Organizations: Treasury, Service, Federal, Census, Economists, Bloomberg, Informa Financial, Hindenburg Research, AMC Entertainment, West Texas Locations: China
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
Stocks waver as investors eye the Fed
  + stars: | 2021-06-14 | by ( Pete Schroeder | ) www.reuters.com + 0.00   time to read: +3 min
The S&P 500 lost 11.83 points, or 0.28%, while the Nasdaq Composite added 53.24 points, or 0.38%. Investors are wondering... whether the Fed will hint at tapering.”That sentiment weighed on gold prices as well, as the precious metal slipped as much as 1.7%. Spot gold prices were down 0.66% by 1:26 p.m. EDT (1726 GMT) to $1,864.19 an ounce. It hit a session high of $71.78 a barrel, its highest since October 2018. [O/R]BITCOIN BUMPIn currencies, the U.S. dollar dipped slightly on Monday after logging its largest weekly change in over a month.
Persons: it’s, , Stephanie Roth, Wednesday’s FOMC, Jerome Powell, Glenmede, Brent, Bitcoin, Elon Musk Organizations: WASHINGTON, Treasury, Reserve, Dow Jones, Nasdaq, JPMorgan Private Bank, U.S . West Texas Intermediate, U.S, Tesla Inc Locations: Wednesday’s, U.S
Oil prices rise as demand improves, supplies tighten
  + stars: | 2021-06-14 | by ( Bozorgmehr Sharafedin | ) www.reuters.com sentiment -0.82   time to read: +2 min
LONDON (Reuters) -Oil prices rose on Monday, hitting their highest levels in more than two years supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. REUTERS/Nick OxfordBrent was up 85 cents, or 1.2%, at $73.54 a barrel by 0908 GMT, their highest since April 2019. IEA urged the Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, to increase output to meet the rising demand. The OPEC+ group has been restraining production to support prices after the pandemic wiped out demand in 2020, maintaining strong compliance with agreed targets in May. [RIG/U]It was the biggest weekly increase of oil rigs in a month, as drilling companies sought to benefit from rising demand.
Persons: Nick Oxford Brent, , , Stephen Brennock, Baker Hughes Organizations: REUTERS, . West Texas Intermediate, International Energy Agency, IEA, Organization of, Petroleum Locations: Midland , Texas, U.S, North America, Europe, OPEC, . U.S
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