Market Coverage: Friday June 18th Yahoo Finance
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Stocks fell Friday to extend a streak of choppy trading after the Federal Reserve's latest monetary policy decision and projections.
The Dow sold off sharply, sinking by 1.2%, or more than 400 points, just after market open. The S&P 500 fell by 0.8%, while the Nasdaq gave back some of Thursday's gains to trade lower by 0.5%.
Treasury yields pared some recent gains, and the benchmark 10-year yield dipped. Traders piled back into government bonds Thursday and Friday morning after selling immediately following the Federal Reserve's monetary policy decision and updated projections on Wednesday, which suggested two interest rate hikes could take place by year-end 2023.
The benchmark U.S. 10-year Treasury (^TNX) rose by as much as 10 basis points to 1.59% mid-week before tumbling below 1.5% Friday morning.
The Fed's projections this week suggested a more hawkish tilt to monetary policy than many market participants had anticipated for the coming years, with the Fed signaling it would eventually ease up some of its highly accommodative monetary policy support even with the economy not yet full recovered from the pandemic at present. Thursday's weekly jobless claims report from the Labor Department showed an unexpected increase in initial unemployment filings, underscoring the still-choppy recovery taking place across the U.S.
"The labor market remains constrained by supply shortages that are outstripping demand and preventing a stronger recovery," Rubeela Farooqi, chief U.S. economist for High Frequency Economics, said in a note Thursday. "However, we expect further strengthening ahead as the economy continues to rebalance."
"That was also the message from Fed Chair Powell in his press briefing on Wednesday," Farooqi added. "He expects a strengthening labor market and continued job creation as constraints on supply ease over the summer months and into the fall."
For more on this article please visit:
https://finance.yahoo.com/news/stock-market-news-live-updates-june-18-2021-222853998.html
Видео Market Coverage: Friday June 18th Yahoo Finance канала Yahoo Finance
#YahooFinance #Stocks #coronaviruscovid19 #2020election #jobsreport
#Biden #Stockmarket #coronavirus #YahooFinance
#YahooFinance #investing #stockmarket #bitcoin #crypto
Stocks fell Friday to extend a streak of choppy trading after the Federal Reserve's latest monetary policy decision and projections.
The Dow sold off sharply, sinking by 1.2%, or more than 400 points, just after market open. The S&P 500 fell by 0.8%, while the Nasdaq gave back some of Thursday's gains to trade lower by 0.5%.
Treasury yields pared some recent gains, and the benchmark 10-year yield dipped. Traders piled back into government bonds Thursday and Friday morning after selling immediately following the Federal Reserve's monetary policy decision and updated projections on Wednesday, which suggested two interest rate hikes could take place by year-end 2023.
The benchmark U.S. 10-year Treasury (^TNX) rose by as much as 10 basis points to 1.59% mid-week before tumbling below 1.5% Friday morning.
The Fed's projections this week suggested a more hawkish tilt to monetary policy than many market participants had anticipated for the coming years, with the Fed signaling it would eventually ease up some of its highly accommodative monetary policy support even with the economy not yet full recovered from the pandemic at present. Thursday's weekly jobless claims report from the Labor Department showed an unexpected increase in initial unemployment filings, underscoring the still-choppy recovery taking place across the U.S.
"The labor market remains constrained by supply shortages that are outstripping demand and preventing a stronger recovery," Rubeela Farooqi, chief U.S. economist for High Frequency Economics, said in a note Thursday. "However, we expect further strengthening ahead as the economy continues to rebalance."
"That was also the message from Fed Chair Powell in his press briefing on Wednesday," Farooqi added. "He expects a strengthening labor market and continued job creation as constraints on supply ease over the summer months and into the fall."
For more on this article please visit:
https://finance.yahoo.com/news/stock-market-news-live-updates-june-18-2021-222853998.html
Видео Market Coverage: Friday June 18th Yahoo Finance канала Yahoo Finance
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