Tech giants and growth names whipsawed before giving up gains as traders flocked to stocks most likely to outperform as the economy reopens.
The package is widely expected to supercharge economic growth and fuel a sharp, albeit likely temporary, jump in inflation.
Rising Treasury yields most directly slam growth stocks, as their elevated valuations sour when government debt offers stronger returns.
The US added 117,000 private payrolls in February, ADP's monthly report said. That came in well below the 200,000 increase expected.
GameStop, AMC, and other Reddit favorites declined as retail traders' latest attempt at a short squeeze faltered.
GameStop jumped for a third straight day as Reddit traders called on one another to replicate the volatile rally seen in January.
New stimulus and economic reopening could lift inflation, but the effect will likely be small and temporary, Powell said.
Investors rotated further to value stocks from growth names, aiming to get into the sectors early before fresh stimulus supercharges economic growth.
US stocks fell Monday morning as investors weighed how the next stimulus will impact inflation. Commodity prices are soaring and the 10-year US treasury note is at its highest point in a year. Bitcoin fell 10% after skyrocketing to new records over the weekend. Sign up here for our daily […]
Tech stocks pulled back over valuation concerns while investors weighed what rising yields could mean for inflation.
US lawmakers will debate on Biden's proposed $1.9 trillion American Rescue Plan act this week, though some investors are nervous the stimulus could elevate inflation.
Bitcoin wavered around $52,000 after touching a record-high of $52,621.84 late Wednesday afternoon.
The Dow closed at a record high on Wednesday as investors welcomed positive economic data. Bitcoin hit a record high surpassing $US52,000. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks ended mixed on Wednesday, with the Dow closing at a record high and […]
The Dow closed at a record high as investors digested booming US retail sales. Bitcoin soared past $52,000 for the first time.
US stocks pulled back on Wednesday as investors digested a 5.3% jump in retail sales during the month of January.
US stocks rose for the fourth straight session on Thursday as investors cheered strong economic data. Weekly jobless claims dropped to 779,000 last week, landing below forecasts and marking the third week of declines. GameStop, AMC, and other Reddit favourites tumbled as day traders rushed to dodge additional losses. Sign […]
US stocks climbed for the second consecutive session as volatility surrounding recent Reddit-fuelled rallies died down. GameStop, AMC Entertainment, and other Reddit favourites tumbled as retail investors took profits. Alphabet and Amazon will preview Wednesday’s action when they reporting earnings after the close. Sign up here for our daily newsletter, […]
Next Page »