(Bloomberg) Stocks climbed as dip buyers resurfaced at the end of a week marked by a surge in global volatility. All major groups in the S&P 500 advanced, while the NYSE FANG+ Index of giants such as Apple Inc. and Facebook Inc. halted a five-day slide. Chinese shares listed in the U.S. rallied Friday, but were still on pace for their longest streak of weekly losses in a decade. The dollar and Treasuries were little changed. Financial markets were rattled this week by speculation the recovery could lose momentum just as central banks get ready to pare back their support measures. Dallas Federal Reserve President Robert Kaplan, who favors ending the $120 billion of monthly asset-purchases sooner rather than later, said he may adjust his view if the delta variant persists and curbs economic expansion. While risks to the global economy are mounting, money managers in search of returns are sticking to equities. U.S. stock-fund data collected before the Fed signaled it could potentially s
(Bloomberg) U.S. stock-index futures fell and the dollar extended a rally as faltering growth and China’s regulatory curbs compounded risks before the Federal Reserve’s Jackson Hole symposium next week. Equity markets around the world were broadly in the red for another day. Hong Kong’s benchmark stock index entered a bear market and Europe’s Stoxx 600 Index was on track for the biggest weekly loss since February. S&P 500 futures lost 0.4%. Investors sought the safety of haven assets, with the dollar rising for a fifth day, its longest winning streak in two months. Treasury yields fell and gold climbed. “The delta variant of Covid is significantly more serious than anyone is really even pricing into the market,” Hilary Kramer, chief investment officer at Kramer Capital Research, said on Bloomberg Television. “We know that tapering is coming. We know that the market is getting tired.” With virus cases surging around the world, there’s speculation that economic growth
(Bloomberg) U.S. stock-index futures fell and the dollar extended a rally as faltering growth and China’s regulatory curbs compounded risks before the Federal Reserve’s Jackson Hole symposium next week. Equity markets around the world were broadly in the red for another day. Hong Kong’s benchmark stock index entered a bear market and Europe’s Stoxx 600 Index was on track for the biggest weekly loss since February. Investors sought the safety of haven assets, with the dollar rising for a fifth day, its longest winning streak in two months. Treasury yields fell and gold climbed. “The delta variant of Covid is significantly more serious than anyone is really even pricing into the market,” Hilary Kramer, chief investment officer at Kramer Capital Research, said on Bloomberg Television. “We know that tapering is coming. We know that the market is getting tired.” With virus cases surging around the world, there’s speculation that economic growth could lose moment just as