{"id":120065,"date":"2021-04-07T03:58:34","date_gmt":"2021-04-07T03:58:34","guid":{"rendered":"https:\/\/precoinnews.com\/?p=120065"},"modified":"2021-04-07T03:58:34","modified_gmt":"2021-04-07T03:58:34","slug":"wall-street-takes-a-pause-treasury-yields-dip-focus-on-fed","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/wall-street-takes-a-pause-treasury-yields-dip-focus-on-fed\/","title":{"rendered":"Wall Street takes a pause, Treasury yields dip, focus on Fed"},"content":{"rendered":"

NEW YORK (Reuters) -U.S. stocks struggled to build on the prior session\u2019s record closing highs and Treasury yields edged lower on Tuesday as investors digested recent upbeat data and looked to the Federal Reserve for its economic outlook.<\/p>

FILE PHOTO: A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. REUTERS\/Carlo Allegri\/File Photo<\/figcaption>

Cyclical and small-cap stocks, which stand to benefit most from a reopening economy, were outperforming the broader market.<\/p>\n

This suggests market participants are optimistic about an economic rebound – and corporate earnings – fueled by vaccine distribution, stimulus and a robust infrastructure bill being debated in Washington.<\/p>\n

\u201cWe had a big push-through on Monday which built on the jobs report on Friday, and it\u2019s not uncommon for the market to take a breather after reaching new highs,\u201d said Joseph Sroka, chief investment officer at NovaPoint in Atlanta.<\/p>\n

Indeed, Friday\u2019s blockbuster U.S. jobs report was followed on Monday by PMI data showing the services sector\u2019s fastest expansion on record. This was followed by a PMI report from China that confirmed activity in its services sector is accelerating.<\/p>\n

The market can also take a pause as earnings season draws near, and first-quarter results will be significant, Sroka noted, adding \u201cthis is the quarter coming up when we compare COVID year-over-year.\u201d<\/p>\n

The U.S. Federal Reserve is expected to release the minutes from its last monetary policy meeting on Wednesday, and market participants will parse it for any changes to the central bank\u2019s economic outlook.<\/p>\n

\u201c(Investors are) going to be looking for little change, a continued supportive and accommodative Fed that sees little risk from inflation and ideally an improved outlook on economic growth,\u201d said Oliver Pursche, president of Bronson Meadows Capital Management in Fairfield, Connecticut.<\/p>\n

The Dow Jones Industrial Average fell 68.19 points, or 0.2%, to 33,459, the S&P 500 gained 1.21 points, or 0.03%, to 4,079.12 and the Nasdaq Composite added 27.33 points, or 0.2%, to 13,732.93.<\/p>\n

European stocks closed at a record high, having recovered all pandemic-related losses as investors bet on a speedy global economic recovery.<\/p>\n

The pan-European STOXX 600 index rose 0.70% and MSCI\u2019s gauge of stocks across the globe gained 0.29%.<\/p>\n

Emerging market stocks rose 0.71%. MSCI\u2019s broadest index of Asia-Pacific shares outside Japan closed 0.76% higher, while Japan\u2019s Nikkei lost 1.30%.<\/p>\n

U.S. Treasury yields dipped, with 5-year notes leading the decline, on investor views that market pricing based on an earlier-than-expected tightening by the Fed was too aggressive.<\/p>\n

Benchmark 10-year notes last rose 18\/32 in price to yield 1.656%, from 1.72% late on Monday.<\/p>\n

The 30-year bond last rose 31\/32 in price to yield 2.3145%, from 2.363% late on Monday.<\/p>\n

The dollar slipped to a two-week low against a basket of world currencies, with traders taking advantage of its strong March performance as dropping Treasury yields pressured the greenback.<\/p>\n

The dollar index fell 0.73%, with the euro up 0.47% to $1.1867.<\/p>\n

The Japanese yen strengthened 0.30% versus the greenback at 109.87 per dollar, while Sterling was last trading at $1.3821, down 0.55% on the day.<\/p>\n

Crude oil prices partially rebounded from the previous session\u2019s losses, lifted by strong data from the United States and China.<\/p>\n

U.S. crude gained 1.16% to settle at $59.33 per barrel, and Brent settled at $62.74 per barrel, up 0.95% on the day.<\/p>\n

Gold prices touched their highest level in more than a week, benefiting from the soft dollar and lower Treasury yields.<\/p>\n

Spot gold added 0.8% to $1,742.66 an ounce.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK (Reuters) -U.S. stocks struggled to<\/p>\n","protected":false},"author":3,"featured_media":120064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nWall Street takes a pause, Treasury yields dip, focus on Fed - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/wall-street-takes-a-pause-treasury-yields-dip-focus-on-fed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wall Street takes a pause, Treasury yields dip, focus on Fed - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"NEW YORK (Reuters) -U.S. stocks struggled to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/wall-street-takes-a-pause-treasury-yields-dip-focus-on-fed\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-07T03:58:34+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/04\/cnewsfotor1604.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/wall-street-takes-a-pause-treasury-yields-dip-focus-on-fed\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/wall-street-takes-a-pause-treasury-yields-dip-focus-on-fed\/\",\"name\":\"Wall Street takes a pause, Treasury yields dip, focus on Fed - 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