Printable Page Headline News   Return to Menu - Page 1 2 3 5 6 7 8 13
 
 
US Stocks Open Higher Monday           06/21 09:17

   Stocks were posting solid gains in early trading Monday, following the 
market's steep declines the previous week. Bank and industrial companies, which 
were hit hard last week, were among the biggest gainers.

   (AP) -- Stocks were posting solid gains in early trading Monday, following 
the market's steep declines the previous week. Bank and industrial companies, 
which were hit hard last week, were among the biggest gainers.

   The S&P 500 index was up 0.5% as of 9:50 a.m. Eastern. The Dow Jones 
Industrial Average was up 0.9% and the technology-heavy Nasdaq was down 0.2%.

   Stocks fell sharply last week after Federal Reserve officials indicated that 
they were willing to start raising interest rates in 2022 or 2023, earlier than 
what the Fed had forecast previously. The change of outlook comes as the U.S. 
economy is recovering from the pandemic, but also being impacted by inflation 
for the first time in more than a decade.

   The Fed also has begun talks about slowing its $120 billion of monthly bond 
purchases, which are helping to keep mortgages and other longer-term borrowing 
cheap. But the Fed's chair has said such a tapering is still likely a ways away.

   Any pullback in Fed support would be a big change for markets, which have 
been feasting on ultra-low rates for more than a year.

   Investors will get a slew of economic data this week that will help give the 
market some direction, including another read on inflation on Friday. Other 
data out this week includes sales of previously occupied homes, manufacturing 
and a final reading on first quarter GDP.

   Bond prices fell. The yield on the 10-year Treasury note rose to 1.50%.

 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN