Inflation problems push US stocks to 1-month low, USD struggles

The Crypto Daily - Movers and Shakers - May 5, 2021

The 10-year TIPS breakeven rate stood at 2.539%, indicating that the market sees inflation averaging 2.5% a year for the next decade. Bets that inflation could accelerate in the coming months burst to the fore on Monday when the breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) – a measure of inflation expectations – jumped to a decade-high 2.717%. It traded at 2.695% by late Tuesday. All eyes are now on the U.S. consumer price index report to be released by the U.S. Labor Department on Wednesday. Until then, some investors appeared to be buying on dips.

“Welcome to a lot of money,” said Paul Nolte, a portfolio manager at Kingsview Investment Management, which oversees $2 billion. “The worry is maybe inflation is something more than transitory, but it looks like this is a mood swing for now rather than a longer-term concern.” 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.

The Nasdaq Composite (.IXIC) ended little changed, while the Dow Jones Industrial Average (.DJI) dropped 1.4%. The S&P 500 (.SPX) fell 0.9%, off a one-month low struck earlier Tuesday. But U.S. shares clawed back some of their losses over the course of the day, with the tech-focused Nasdaq Composite (.IXIC) reversing the bulk of its early 2% decline.

The Australian dollar , another proxy for commodity prices, was steady at $0.7839, but off a 10-week high of $0.7891 struck on Monday. Gold also recouped early declines, as a softer dollar offset losses generated by rising U.S. Treasury yields. Spot gold edged up 0.11% to $1,837.39 per ounce, after dropping as much as 1% earlier. The currencies of major natural resource suppliers such as Canada held ground amid rising commodity prices. The loonie was little changed at C$1.2097 after hitting a 3-1/2-year high of C$1.2078.

The dollar index , which measures the greenback against six major currencies, was little changed at 90.188, after touching a low of 89.979. The dollar, which slipped to a 10-week low on Tuesday on concerns that mounting price pressures could erode its value, also narrowed some of its earlier losses.

The News Highlights

  • Inflation problems push US stocks to 1-month low, USD struggles
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Leaks from Windows 11 point to improved Xbox integration and Game Pass features

Leaks from Windows 11 point to improved Xbox integration and Game Pass features

Naturally, images and video of the new OS have already leaked online, including some screenshots of the Xbox and Game Pass app integration into Windows 11, ...
Price of Nokia Lite Earbuds in Nepal

Price of Nokia Lite Earbuds in Nepal

This time around, Nokia has brought a TWS in Nepal named Nokia Lite Earbuds (BH-205). Nokia Lite Earbuds price in Nepal is Rs. 3,699 and it is only available ...
Kandiyohi County gave more money to help SNAP clients find work

Kandiyohi County gave more money to help SNAP clients find work

Not all those who receive SNAP benefits have to meet those work requirements. Those 65 and older, with disabilities or young dependents are exempt. The federal ...
BAS is working on a project for a zero-emissions house

BAS is working on a project for a zero-emissions house

A system for monitoring and management of a house for one household with energy consumption of about 10 thousand kilowatt hours per year has been designed. ...
Build-Your-Own Charcuterie Board  News Babe & Butcher debuts in Charlotte

Build-Your-Own Charcuterie Board News Babe & Butcher debuts in Charlotte

Source carolinas.eater.com • Babe & Butcher Provided Lindsay Anvik and Robert Henricks in their shop Located at 301 Camp Road, Babe ...
Philanthropist MacKenzie Scott Announces Series C Investment in Ordinary Humans

Philanthropist MacKenzie Scott Announces Series C Investment in Ordinary Humans

Scott was married to Bezos from 1993 to 2019. She left the relationship with a significant portion of Amazon’s stock. “We encouraged them to spend it however ...
BillionToOne Names Nipun Soni, CFA, CPA as First CFO

BillionToOne Names Nipun Soni, CFA, CPA as First CFO

Related Imagesimage1.jpg Inquiries:For any media inquiries, contact SOURCE BillionToOne Inc. “I am very excited to join BillionToOne and be part of this ...
eSchool for Board and Committee Members Focuses on UC Finance Fundamentals |  2021-06-15

eSchool for Board and Committee Members Focuses on UC Finance Fundamentals | 2021-06-15

Source news.cuna.org Board and committee members who complete the eSchool also earn the CUNA Credit Union Board Financial Literacy Certificate to satisfy ...
Research shows new health problems in long-haulers COVID-19

Research shows new health problems in long-haulers COVID-19

“We also see patients having sleep disorders. We don’t know if the sleep disorder is from COVID itself,” said Dr. Nora Singer, director of rheumatology at ...
The new Sonos IKEA Symfonisk speaker is here

Ikea’s Picture Frame Speaker for $199 Puts Your Tunes On A Wall

In typical Sonos fashion, there has been no discussion of the Picture Frame Speaker’s power in terms of watts. Instead, the company describes it as ...
Show next
Compsmag - Latest News from tech, business and health
Logo