Tuesday, 13 Apr 2021 07:20 AM MYT
With US consumer price data for March due to be published today, this could drive Treasury yields higher. Big Wall Street names are due to kick off earnings season tomorrow, giving new catalysts to buy or sell stocks in a record-high market. Federal Reserve Chair Jerome Powell said on Sunday the US economy was at an “inflection point” with expectations for faster growth in the months ahead, but he warned that a hasty reopening could lead to a continued increase in coronavirus cases.
The financials index and consumer discretionary sector both hit record highs yesterday, on confidence in both areas as the US economy reopens. Overall, the Dow Jones Industrial Average fell 55.2 points, or 0.16 per cent, to 33,745.4, the S&P 500 lost 0.81 points, or 0.02 per cent, to 4,127.99 and the Nasdaq Composite dropped 50.19 points, or 0.36 per cent, to 13,850.00.
Nuance Communications Inc shares surged 16 per cent after Microsoft Corp said it would buy the artificial intelligence and speech technology company for US$19.7 billion .