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)
Delayed Quote. Delayed USA - 06/21 04:20:01 pm
33876.97 PTS   +1.76%
After hours
-0.01%
33874.91 PTS
04:51pUS Stocks Jump, Shake Off Fed Hangover as Oil Prices Surge
MT
04:48pCLOSE UPDATE : US Stocks Jump, Shake Off Fed Hangover as Oil Prices Surge
MT
04:36pEnergy Rebounds As Fed Fears Fade -- Energy Roundup
DJ
SummaryQuotesChartsNewsHeatmapComponents 
SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Dow Jones Industrial Average : U.S. stocks retreat from record high, dollar near 10-week low

05/10/2021 | 05:35pm EDT
FILE PHOTO: People are seen on Wall St. outside the NYSE in New York

NEW YORK (Reuters) -U.S. stocks fell on Monday and the Dow Jones Industrial Average snapped back from a record high, as worries about accelerating inflation dragged on shares and hobbled the dollar, which struggled at a 10-week low.

U.S. equities' losses deepened as the breakeven rates for U.S. Treasury Inflation-Protected Securities, or TIPS, scaled multi-year highs, underscoring rising inflation expectations.

The Dow Jones Industrial Average lost 0.1% after rising to a record 35,091.56 points earlier in the day. The S&P 500 extended losses to 1%, and the Nasdaq Composite fell 2.55%. [.N]

The stocks pullback was mirrored by a broad retreat in riskier assets such as oil and copper, as some investors grew nervous after recent hefty gains.

Indeed, copper prices had also shot to an all-time high earlier on Monday as investors piled in on bets of improved demand amid a tightening supply, and driven by the fear that they were missing out on a price rally. [MET/L]

Some analysts warned that investor bets on mounting inflation pressure and ensuing interest rate hikes by the Federal Reserve could be overdone.

"We see a high bar for the Fed to change its policy stance," Jean Boivin, head of BlackRock Investment Institute, said, noting a "disconnect" between the market's pricing for rates to rise as early as next year, and the Fed's rate projection.

For now, Monday's jump in the breakeven rate for TIPS was the focus of some investors.

Speculation that growing price pressure would erode the dollar's value kept the U.S. currency near a 2-1/2-month low. By late Monday, the dollar index, which measures the greenback against six major currencies, had pared losses to stand at 90.302. [USD/]

A sluggish dollar helped sterling rally to $1.416, the highest since Feb. 25, despite Scotland's leader saying another referendum on independence was inevitable after her party's resounding election victory.

Rising inflation expectations lifted longer-dated U.S. Treasury yields. The yield on benchmark 10-year Treasury notes stood at 1.6038% after plunging to a two-month low of 1.469% on Friday.

Five-year TIPS rose to 2.72%, its highest since April 2011, following Friday's 2.681%.

The 10-year TIPS breakeven rate also rebounded after closing at 2.503% on Friday. It was last at 2.54%, its highest since April 2013, indicating the market sees inflation averaging 2.5% a year for the next decade.

Oil prices gave up earlier gains as concerns that rising COVID-19 cases in Asia will dampen demand outweighed expectations that a major U.S. fuel pipeline could restart within the week following a cyber attack. [O/R]

Brent crude was little changed at $68.31 per barrel and U.S. crude was also largely flat at $64.91 a barrel.

A weaker dollar also helped to boost gold prices. Spot gold rose 0.3% to $1,835.44 per ounce, after touching its highest since Feb. 11 at $1,845.06. [GOL/]

The focus now shifts to U.S. consumer price data due on Wednesday, which will help investors determine whether to scale back inflation expectations even further.

In the cryptocurrency market, ether pared earlier gains to trade under $4,000. Bigger rival bitcoin fell 4.6 % to $55,667.

(Reporting by Danilo Masoni in Milan and Stanley White in Tokyo; editing by Mark Heinrich, Steve Orlofsky and Richard Chang)

By Koh Gui Qing


© Reuters 2021
All news about DJ INDUSTRIAL
04:51pUS Stocks Jump, Shake Off Fed Hangover as Oil Prices Surge
MT
04:48pCLOSE UPDATE : US Stocks Jump, Shake Off Fed Hangover as Oil Prices Surge
MT
04:36pEnergy Rebounds As Fed Fears Fade -- Energy Roundup
DJ
04:21pWALL STREET STOCK EXCHANGE : Wall Street ends sharply higher, led by surging Dow
RE
04:08pUS ECONOMICS : Home Sales Expected to Slow Further in May
MT
03:57pUS Stocks on Track to Start Week Higher Following Last Week's Decline
MT
03:54pICE CLOSING REVIEW  : An About-Face for New Crop Canola
DJ
03:46pSoybeans Turn Higher on Chinese Export Purchases
DJ
03:39pSECTOR UPDATE : Energy Stocks, Propelled by Crude Oil Gains, Riding Monday Surge
MT
03:12pDOW JONES FXCM DOLLAR INDEX  : Wells Fargo Sees Higher Oil Prices as Demand Edge..
MT
More news
News of the index components DJ INDUSTRIAL
04:45pMERCK  : CONSOLIDATED STATEMENT OF INCOME - GAAP (Form 8-K)
PU
04:36pMERCK & CO., INC.  : Regulation FD Disclosure, Financial Statements and Exhibits..
AQ
04:30pCOCA COLA  : North America Steps up Spending With Minority-Owned Media Companies
BU
03:38pSECTOR UPDATE : Financial Stocks Get Large Boost in Monday Markets
MT
03:32pAPPLE  : May See Strong Consumer iPhone 13 Demand Through 2022 on Reopening Envi..
MT
03:20pGOLDMAN SACHS  : Launches Transaction Banking in UK
MT
03:15pCISCO  : CX Healthcare Practice Focuses on Post-COVID Telehealth
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
AMERICAN EXPRESS COMPANY 168.9 Real-time Estimate Quote.6.78%
UNITEDHEALTH GROUP 404.825 Real-time Estimate Quote.3.97%
THE BOEING COMPANY 245.28 Delayed Quote.3.34%
THE COCA-COLA COMPANY 55.535 Real-time Estimate Quote.3.28%
CHEVRON CORPORATION 106.05 Delayed Quote.2.93%
Heatmap :