Wall Street’s main indexes were muted today as focus shifted to this week’s Fed meeting where the central bank is expected to maintain its accommodative stance on monetary policy.
The Dow Jones Industrial Average was down 0.3 per cent, while the S&P 500 fell 0.1 per cent at the open, remaining near an all-time time.
Meanwhile, the tech-heavy Nasdaq was up 0.2 per cent as tech stocks continued to trade slightly higher.
Recent data has indicated that the US economy is regaining momentum but not overheating, which has tamed inflation concerns.
“The market is looking for the Fed to not be dramatically alarmed about fears of inflation, or move too soon with tapering,” said
“We’re kind of in this ‘Goldilocks’ situation where numbers keep coming in pretty good, liquidity is ample, the Fed is accommodative, and unless those things change, we shouldn’t expect a big change in the stock market.”
London markets
London’s
The blue-chip index was up 0.1 per cent during afternoon trading, buoyed by gains in heavyweight financials and energy stocks.
Oil major
The rise came as investors awaited the government’s decision on whether to delay England’s complete reopening from a third national lockdown.
After breaking above 7,000 mark in mid-April, the
Meanwhile, the mid-cap
Market movers
The afternoon’s biggest winner was
Software firm Sage and safety equipment group Halma also rose 1.9 per cent and 1.7 per cent respectively.
Events company Informa was the afternoon’s biggest faller, dropping by 4.4 per cent, followed by Rolls-Royce’s two per cent hit.
Meanwhile,
Around the world
Global shares held near record highs today as markets basked in the prospect of a broadening economic recovery and anticipation of more dovish monetary policy from the Fed.
The MCSI world equity index, the S&P 500 and the pan-regional Stoxx Europe 600 all closed at record highs on Friday.
Japan’s
Elsewhere, activity was limited, with the region’s largest markets –
The latest market rally came even as last week’s US inflation data exceeded expectations, with investors confident that it was a temporary surge.
“Strip used cars, hotels, and other leisure-related reopening plays out of the CPI, and I am not sure the inflation outlook is the end of days many are predicting,” said OANDA analyst
The post
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