U.S., Europe Stock Futures Rise After S&P 500 Peak: Markets Wrap
Bloomberg 17 mins ago Andreea Papuc
(Bloomberg) Asian stocks were steady Thursday and U.S. equity futures gained after the S&P 500 notched up another record on further evidence of the Federal Reserve’s commitment to supportive policy.
Japanese shares slipped amid concerns Tokyo is planning stricter steps to curb rising virus infections, while Australia and Hong Kong outperformed. U.S. and European equity futures climbed following modest gains in the S&P 500 Index amid dwindling volume on U.S. exchanges. Tech giants including Apple Inc. helped push up the Nasdaq 100. The dollar headed for its fifth decline in six sessions, while Treasuries stabilized.
Futures Rise With Europe Stocks; Treasuries Gain: Markets Wrap
Bloomberg 1 hr ago Robert Brand
(Bloomberg) U.S. equity futures gained with European stocks on Thursday the Federal Reserve’s commitment to supportive policy helped boost sentiment.
Contracts on the S&P 500 rose after the benchmark’s record close on Wednesday following minutes from the latest Fed meeting, in which officials indicated it would likely be “some time” before they scaled back their asset-purchase program. Treasuries gained while the dollar slipped.
The Stoxx Europe 600 Index tracked U.S. futures higher, on track for a fresh record. Anglo American Plc climbed more than 3% after outlining plans to spin off its South African coal mines. Crude oil fell as the pandemic worsened in key regions just as OPEC+ prepares to add supply over the coming months.
India Favors Retaining RBI’s Inflation Target Program
Bloomberg 4 days ago Siddhartha Singh
(Bloomberg) India’s government is likely to leave the inflation targeting band for its central bank unchanged, according to people familiar with the matter, while policy makers remain focused on rising prices amid the rebound from the pandemic.
A consumer-price inflation band tracked by the Reserve Bank of India is likely to be retained at the current 2%-6% range, said the people, who asked not to be identified citing rules before the framework is finalized by March 31. The government is mulling small changes to the system, including safeguard options that offer leeway in cases of an exceptional events, they said, without providing further details.
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India Central Bank Favors Retaining Inflation Target Regime
Bloomberg 2/26/2021 Anirban Nag
(Bloomberg) The Reserve Bank of India said Friday that its current inflation targeting regime is effective at containing price-growth and that it recommends the government renew it for another five years.
The central bank’s recommendation on flexible inflation targeting, known as FIT, comes after a run of consumer prices above its expected range raised speculation that the government of Prime Minister Narendra Modi would order up a new mechanism to replace the one put in place in 2016. Modi’s administration will likely make a final decision this year.