U.S. shares rebounded on Thursday after falling for three consecutive days and benchmark Treasury yields dipped, as investors snapped up stocks that would benefit from an economic recovery and shrugged off worries about rising prices, for now.
GLOBAL MARKETS-U S stocks rebound after rout, bond yields trust.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from trust.org Daily Mail and Mail on Sunday newspapers.
By Koh Gui Qing NEW YORK (Reuters) - U.S. stocks hit a one-month low on Tuesday as speculation that rising inflation pressure could prompt interest rate hikes sooner rather than later dragged on shares and hobbled the dollar, which hovered near a 2-1/2-month low. Technology stocks were among the biggest losers, mirroring a sell-off in China, where talk of tighter regulation sent technology shares skidding. But U.S. shares clawed back some of their losses over the course of the day, with the tech-focused Nasdaq Composite reversing the bulk of its early 2% decline. Investors said the snap back in shares suggested that inflation concerns were not quite so entrenched yet, despite rising commodity prices and labor shortages in the United States. They said the sheer volume of money sloshing around in financial markets also meant some individuals are always looking to invest their cash on pull-backs.
MSCI’s global stock gauge down for third straight day U.S. Treasury jump on inflation data
NEW YORK, May 12 (Reuters) - U.S. stocks fell again on Wednesday as benchmark Treasury yields jumped after data showed consumer prices unexpectedly rose by the most in nearly 12 years in April, prompting bets on earlier interest rate hikes.
Moments after data showed the U.S. consumer price index jumped 0.8% last month, outpacing a 0.2% forecast, the dollar spiked, only to tumble minutes later to stand little changed.
The gyrations in financial markets underscored concerns among some investors that the Federal Reserve could be wrong in its prediction that inflation pressures in the United States are “transitory”, and that the central bank may have to raise rates sooner than it currently expects to.
Wall Street skids on inflation fears; USD, bond yields jump reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.