Federal Reserve to pare back its support soon. Investors will also focus on minutes from the Fed s April policy meeting, where it stood pat on interest rates. The statement is due to be issued at 2 p.m. ET (1800 GMT). Strong inflation readings and signs of a worker shortage in recent weeks have fueled fears of inflation and roiled stock markets despite reassurances from Fed officials that the rise in prices would be temporary. There is no question that inflation worries have creeped into the investor mindset which will weigh on the tech stocks and, in all likelihood, we will see yields go up, said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
State-owned Indian Railway Finance Corporation (IRFC) and UTI Asset Management Company (AMC) are likely to get included in FTSE global indices during their quarterly rebalancing later this week. “In terms of fresh inclusions, we expect IRFC to get included in the All World and All Cap index and also expect UTI AMC to get included in the All Cap (Small Cap) index,” said Sriram Velayudhan, Vice President at IIFL Securities in a note. China-based Fosun Pharma-led Gland Pharma also meets the qualification criteria, but limited room for overseas investment could spoil its chances. The quarterly adjustments to FTSE global equity indices will be announced on May 21 and the changes will become effective from June 18.
Read more about Inflation angst bruises world stocks, Euro STOXX 600 declines 1.5% on Business Standard. Shock rise in US CPI stirs fear of Fed tapering; MSCI world equity index down 0.6%, set for fourth straight day of losses
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