Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

DJ INDUSTRIAL

(DJI)
SummaryQuotesChartsNewsHeatmapComponents 
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Dow Jones Industrial Average : U.S. stocks rebound after rout, bond yields dip

05/13/2021 | 05:04pm EDT
FILE PHOTO: A man looks at stock market monitors in Taiwan

NEW YORK (Reuters) -U.S. shares rebounded on Thursday after falling for three consecutive days and benchmark Treasury yields dipped, as investors snapped up stocks that would benefit from an economic recovery and shrugged off worries about rising prices, for now.

After posting their biggest slump in at least 11 weeks on Wednesday, U.S. shares bounced back as investors flush with cash looked past concerns that accelerating inflation may prompt interest rate hikes sooner, and deployed their funds once more.

So intent were investors on leaving inflation worries aside that financial markets barely responded to Thursday's data, which showed U.S. producer prices posting their biggest annual gain since 2010 in April.

"It's rebound Thursday," said John Augustine, chief investment officer at Huntington Private Bank, which manages $20 billion in assets. "Given the money on the sidelines, investors are going to be coming back in."

Still, Augustine said investors should redeploy their funds in a measured way as "inflation concerns are not going away".

The Dow Jones Industrial Average ended the day up 1.3%, the S&P 500 rose 1.2% and the Nasdaq Composite gained 0.7%.

Gains were led by shares in small-cap companies, chip makers and transportation providers - businesses that stand to gain as the United States emerges from the pandemic recession. [.N]

The bounce in U.S. stocks lifted the MSCI world equity index, which tracks 50 countries, by 0.3%.

Wall Street had tumbled earlier this week after data showed U.S. consumer prices unexpectedly jumped by the most in almost 12 years in April.

Some investors now worry that quickening price pressures could lead the U.S. Federal Reserve to tighten monetary policy sooner than expected, reducing its supply of cheap money that has propelled financial markets higher.

For now, however, inflation woes took a backseat.

Benchmark 10-year Treasury yields, which spiked 7 basis points overnight in the biggest daily rise in two months, fell by nearly 4 basis points to 1.6556% as investors took a breather.

Benchmark two-year Treasury yields also pulled back to 0.1569%. [US/]

Against a basket of major currencies, the dollar was steady at 90.718, largely holding on to gains eked out on Wednesday, when expectations of rate hikes burnished the currency's appeal.

A firm dollar capped gains in the euro, which edged up 0.1% to $1.20805. [USD/]

The pullback in Treasury yields helped gold to recoup some of its previous day's losses, when rising bond yields dampened the allure of non-yielding bullion. Spot gold climbed 0.6% from a one-week low to $1,826.71 per ounce. [GOL/]

A recent rally in oil prices also paused on Thursday as investors turned their attention to the coronavirus crisis in India, and as the top U.S. fuel pipeline network resumed operations. [O/R]

Brent crude slumped 3.4% to $66.98 a barrel, while U.S. West Texas Intermediate crude lost 3.5% to $63.78 a barrel.

Among cryptocurrencies, bitcoin, which tumbled 13% overnight when Elon Musk said Tesla Inc would stop accepting it as payment because of its high energy use, skidded again on Thursday following reports that the U.S. Justice Department was investigating crypto exchange Binance.

By Thursday evening, bitcoin had dropped 0.7% to $48.965.

(Reporting by Koh Gui Qing in New York; additional reporting by Tom Wilson and Marc Jones in London, Wayne Cole in Sydney; Editing by Dan Grebler, Cynthia Osterman and Jonathan Oatis)

By Koh Gui Qing


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.20% 33945.58 Delayed Quote.10.69%
S&P GSCI CORN INDEX -3.57% 456.9659 Delayed Quote.18.03%
All news about DJ INDUSTRIAL
05:25pS&P/TSX Composite Index Ends 0.22% Higher at 20200.65 -- Data Talk
DJ
05:25pBOVESPA Index Ends 0.38% Lower at 128767.45 -- Data Talk
DJ
05:25pIPC Indice de Precios Y Cotizaciones Ends 0.37% Lower at 50129.88 -- Data Tal..
DJ
05:25pS&P MERVAL Index Ends 1.18% Higher at 65901.62 -- Data Talk
DJ
05:22pTech leads way to Wall Street rebound as Powell promises steady hand
RE
05:08pUtilities Down Amid Growth Rotation -- Utilities Roundup
DJ
05:07pCommunications Services Up On Growth Rotation -- Communications Services Roun..
DJ
05:03pTech Climbs, Pushing Nasdaq to Record High -- Tech Roundup
DJ
05:01pUS Stocks Gain as Fed Chair Stresses Patience, Jobs
MT
05:01pFinancials Tick Up Amid Tech Rotation -- Financials Roundup
DJ
More news
News of the index components DJ INDUSTRIAL
05:53pINSIDER TRENDS : UnitedHealth Group Insider Continues 90-Day Selling Trend
MT
05:46pINTEL  : to create new units for software, high-performance computing
RE
05:27pBOEING  : to Boost UK Royal Air Force Chinook Fleet
PU
04:53pDOW  : introduces polyurethane solutions sourced from recycled raw material to i..
PU
04:41pINTEL  : World-renowned technologists move into key leadership roles to accelera..
PU
04:40pINTEL CORP  : Change in Directors or Principal Officers, Regulation FD Disclosur..
AQ
04:35pCISCO  : Complete and continuous remote worker visibility with Network Visibilit..
PU
More news
Chart DJ INDUSTRIAL
Duration : Period :
DJ Industrial Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DJ INDUSTRIAL
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Top / Flop DJ INDUSTRIAL
NIKE, INC. 132.48 Delayed Quote.1.85%
THE HOME DEPOT, INC. 312.71 Delayed Quote.1.66%
APPLE INC. 133.98 Delayed Quote.1.27%
MICROSOFT CORPORATION 265.51 Delayed Quote.1.10%
VISA 235.93 Delayed Quote.0.69%
WALT DISNEY COMPANY (THE) 173.5 Delayed Quote.-0.27%
WALGREENS BOOTS ALLIANCE, INC. 51.77 Delayed Quote.-0.31%
SALESFORCE.COM, INC. 243.11 Delayed Quote.-0.56%
THE BOEING COMPANY 243.78 Delayed Quote.-0.61%
MERCK & CO., INC. 76.19 Delayed Quote.-0.73%
Heatmap :