![]() ![]() “The latest releases have helped to distract from stagflation fears but have diverted attention toward supply chain bottlenecks,” said Fiona Cincotta, senior financial markets analyst at. The consumer product giants Procter & Gamble and Nestle both said this week that they were raising prices as they face higher freight costs and supply chain disruptions. Not all the earnings results recently have brought good news. Both were among the best-performing stocks in the S&P 500. United Rentals, which lends out construction and industrial equipment, and Vulcan Materials, which produces concrete and other construction materials, gained more than 3 percent. ![]() Shares of companies that would benefit from that bill were sharply higher on Wednesday. A compromise among Democrats on a broad social-spending plan could pave the way for a bipartisan $1 trillion infrastructure bill to advance. Signs that Democratic lawmakers in Washington were closing in on a domestic spending plan also lifted sentiment. Quarles said in remarks prepared for delivery at the 2021 Milken Institute Global Conference.Ī rally in oil prices has also lifted shares of energy companies this month, while a political agreement to raise the debt ceiling - albeit temporarily - and avoid a default by the United States also removed a major concern for investors. has the framework and the tools to address it,” Mr. “If inflation does remain more than moderately above 2 percent, be assured that the F.O.M.C. Quarles, said that his attention was shifting to too-high inflation - with price increases running well over the Fed’s target of 2 percent - and that the central bank’s policy-setting Federal Open Market Committee would be prepared to react if it stays that way. Wednesday’s rally was tempered somewhat after a Federal Reserve governor, Randal K. The index has rallied 5.5 percent in less than three weeks, recouping its losses from September, which was the stock market’s worst month this year. The S&P 500 gained about 0.2 to another record close 4,255. index closed up 0.4 percent at 4,536.19, after earlier climbing above its Sept. The Nasdaq Composite jumped to a record high on Monday as investors rotated back into growth-oriented stocks ahead of a key Federal Reserve meeting.The tech-heavy benchmark rose 0.7 to an all-time closing high of 14,174.14, overtaking the previous record on April 26. The S&P 500 and the Nasdaq eked out record highs on Thursday following strong technology and retail earnings.The S&P 500 posted its sixth-consecutive gain on Wednesday but fell short of a record after a Federal Reserve official expressed concerns about inflation, suggesting that policymakers were prepared to pull back on support for the economy if price gains continue to hold up. ![]() S&P 500 e-minis were down 5.75 points, or 0.12 per cent and Nasdaq 100 e-minis were up 68 points, or 0.41 per cent. Oil firms Exxon Mobil and Chevron slipped 2.1 per cent and 1.8 per cent as crude prices sank, while big banks including JPMorgan and Bank of America were down between 0.9 per cent and 1.1 per cent, tracking a fall in US Treasury yields.Īt 6.26 am ET, Dow e-minis were down 145 points, or 0.4 per cent. On the other hand, carriers Delta Air Lines, United Airlines and American Airlines, and cruiseliners Norwegian Cruise Line and Carnival fell between 1.4 per cent and 2.3 per cent. Shares of Alphabet, Amazon and Microsoft - stocks which have largely persevered through economic shocks since 2020, rose between 0.3 per cent and 0.5 per cent in premarket trade.Ĭhipmaker Nvidia also boosted Nasdaq futures, rising 1.7 per cent in heavy trade after posting strong quarterly results late on Wednesday. In Europe, rising COVID-19 cases saw Austria outline plans for a full lockdown, while Germany could follow suit amid a new wave of infections. The US House of Representatives early on Friday delayed an anticipated vote on passage of Biden's social programs and climate change investment bill, and will instead reconvene at 8am EST to complete the legislation. ![]()
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