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Tech Flat As Risk Appetite Wanes -- Tech Roundup

Tech Flat As Risk Appetite Wanes Tech Roundup 05/25/2021 | 05:15pm EDT Send by mail : Message : Shares of technology companies were more or less flat as investors risk appetite wavered. A crash in cryptocurrency prices has rattled global markets in recent sessions after Tesla Chief Executive Elon Musk a major booster of the digital currencies said his company would no longer accept bitcoin as payment because of concerns about excessive power usage. The prices of bitcoin and other cryptocurrencies have stabilized as Mr. Musk reportedly explored convening a study group to solve digital currency s energy-consumption issues. Xanadu Quantum Technologies, which aims to commercialize quantum computing using particles of light, has raised $100 million in new funding as investor interest in the industry heats up.

Financials Fall Alongside Treasury Yields, Amid Diminished Inflation Expectations

Financials Fall Alongside Treasury Yields, Amid Diminished Inflation Expectations - Financials Roundup 05/25/2021 | 05:14pm EDT Send by mail : Message : Required fields Shares of banks and other financial institutions fell as Treasury yields dropped on diminished inflation expectations. Since the release of the Fed minutes last week, bond market breakeven rates (i.e., the bond market s embedded inflation expectation) and commodity prices have both declined, said Jim Paulsen, chief investment strategist at money manager The Leuthold Group, in a note to clients. Instead of engaging in a taper tantrum as happened during previous shifts in Federal Reserve bond-buying plans, the stock market may be applauding the Fed s apparent plan to gradually bring inflation to heel, according to Mr. Paulsen.

Consumer Cos Climb After Home-Sales Data -- Consumer Roundup

Consumer Cos Climb After Home-Sales Data Consumer Roundup 05/25/2021 | 05:11pm EDT Send by mail : Message : Required fields Shares of retailers and other consumer companies rose slightly as strong housing data offset inflation concerns. The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 13.2% in the year that ended in March, up from a 12% annual rate the prior month, and the sharpest rate of price growth since December 2005. New-home sales fell sharply in April, reflecting limited inventory, but remained far above the level a year earlier. Home building is set to slow further due to the rising cost of lumber.

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