The S&P 500 and the Dow closed at all-time highs on Thursday as worries about rising inflation subsided, while a bigger-than-expected fall in weekly jobless claims and the signing of a massive. | March 12, 2021
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NEW YORK (Reuters) - Wall Street s main indexes recoiled from record highs on Thursday as surging U.S. Treasury yields took the shine off stocks now that a strong economic recovery looked more certain and investors clung to concerns that inflation would rise.
The S&P 500 was down more than 2% at one point, and retreating technology stocks dragged the Nasdaq down more than 3% as the benchmark 10-year note yield surged more than 20 basis points to a one-year high above 1.6%.
That surge put the 10-year interest rate above the 1.48% S&P 500 dividend yield, wiping out the strong advantage that the stock market has held over bonds during the pandemic.
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LONDON (Reuters) - If central bank digital cash is to rapidly replace banknotes, a shadow economy worth trillions of dollars may creep deeper into the darkness.
A big issue for governments and central banks then is the extent to which it s already going there - or whether the latest explosion in cryptocurrency values, for example, is at least partly pricing its imminent arrival.
Monetary authorities from Beijing to Frankfurt have over the past year accelerated plans for legal tender in digital format, in part to keep pace with the explosion of private sector crypto-coins and online payment systems of recent years. The plethora of designs and concepts being bandied about so far make it difficult to get a clear picture of what will emerge.
The Dow Jones Industrial Average notched a record closing high, joining a global march propelling stock indexes to record highs on Tuesday, as investors bet that COVID-19 vaccinations and U.S.. | February 20, 2021
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Stocks on Wall Street tumbled Friday. The three major indexes suffered their worst weekly declines since October as frenzied trading in heavily shorted stocks hurt investor sentiment.
The Dow, S&P 500 and Nasdaq ended Friday roughly 2% lower. For the week, the three indexes each dropped more than 3%. For the month, the Dow & S&P finished in the red.
ClearBridge Investments investment strategist Jeffrey Schulze says the indexes could pull back up to 10% because market sentiment is overly bullish. We thought that positioning was pretty stretched as we came into January. Optimism was off the charts, put-call ratios were at levels last seen in 20 years. You also had record margin positioning. There is a lot of optimism in all of the investor sentiment surveys, so I think the market was due for a bit of a breather, little bit of a consolidation.