S&P 500 is flat as stock market continues March churn

  • 📰 CNBC
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 72%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

The market weakness came as Fed's Powell hinted at one day starting to remove the stimulus that has boosted the market during the pandemic.

The S&P 500 fluctuated in volatile trading Thursday as the market struggled for a direction after a rally to record highs took a breather.

Oil prices fell about 4% Thursday as demand concerns rekindled with fresh coronavirus pandemic lockdowns. The S&P 500 energy sector slid more than 2%.Jerome Powell hinted at one day starting to remove the stimulus"As we make substantial further progress toward our goals, we'll gradually roll back the amount of Treasurys and mortgage-backed securities we've bought," Powell told NPR's "Morning Edition.

The tech-heavy Nasdaq has been the relative underperformer with a flat return this year, compared to the S&P 500's 3% rise. Some investors have been taking profits in their growth winners which led the market's rebound from the pandemic losses last year. Pressure on equities came even as bond yields continued to decline from recent highs. The 10-year Treasury yield dipped 2 basis points to below 1.6%, falling for a fourth day after the rate hit a 14-month high last week.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Compliments to FED for all liquidity that turned StockMarket into the biggest CASINO in the world!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines