News By Tag
News By Place
Mixed results observed on today's market session; inflation fear addressed by Powell
Today's session ultimately wrapped with both S&P and Dow gaining, while NASDAQ continued to its 2-day losing streak.
But thanks to Federal Reserve Chair Jerome Powell and his well-timed release of his stance concerning inflation. He's sticking to his original statement that the inflation is short-term and does not need immediate attention.
Analysts have their own outlook regarding the inflation and the possibility of longer lasting inflationary period. However, Powell strongly suggests that it would take much more than this before anything can force the Fed's and the central bank to make changes and lift the ultra-accommodating low interest rates as well as its strong asset purchase program.
Below is a brief summary of the Stock Market's movement, Wednesday, July 14, 2021;
Stocks and Treasuries:
- The Dow Jones Industrial Average went up to 34.933.43 with an increase of 44.64 points or 0.13%.
- NASDAQ Composite Index ended lower at 14,644.92
- The S&P 500 Index landed at 4,374.38 after gaining 5.17 points or 0.12%.
- U.S. 5 Year Treasury yield went down by 0.0010 basis points or 0.13% at 0.7950.
- U.S. 10 Year Treasury yield unchallenged basis points or 0% and ended 1.3490.
Commodities and Global Currencies:
- Gold up to $1,827.385 per ounce after gaining $19.70 or 1.09%
- Silver currently at $26.2505 per ounce after increasing by 1.02%.
- Western Texas Intermediate Crude decreased 2.82% and now at $73.13 per barrel.
- Brent crude at $74.57 per barrel after losing by 2.51%.
- U.S. Dollar Index (DXY) down by 0.41% at 92.37.
- Euro is up by 0.48% closing 1.18363 vs USD.
- Yen decreased right about by 0.59% at 109.958 against USD.
- British Pound ended up quite higher by 0.33% at 1.3858 versus USD.
More new data and print about Q2 earnings in the upcoming weeks causing at least a balance between inflation concern's market pulldown and Q2 earnings' positive impact.
For more financial related news and advisories browse as at Redwood Capital Management Limited website via https://redwoodcapitalmanagementltd.com/
Redwood Capital Management Limited