U.S. stocks dropped
while the dollar strengthened as data on consumer prices showed signs
inflation is perking up. Treasuries advanced after the sale of two-year
notes was characterized as good by firms obligated to bid.
The Standard &
Poor’s 500 Index lost 0.6 percent at 4 p.m. in New York, its 25th day
without consecutive gains, the longest stretch since 2001. The Nasdaq
Composite Index erased earlier gains to finish lower by 0.3 percent. The
Stoxx Europe 600 Index climbed 0.4 percent. The Bloomberg Dollar Spot
Index added 0.2 percent. The yield on 10-year Treasuries fell four basis
points to 1.87 percent. U.S. crude added 6 cents to settle at $47.51 a
barrel. Gold rose to a two-week high while copper increased for a fourth
day.
The cost of living in
the U.S. climbed 0.2 percent in February, as fuel costs stabilized. Fed
policy makers are looking for inflation to accelerate and close in on
their 2 percent target as they weigh the timing of the first rate
increase since 2006. Purchases of new homes in the U.S. unexpectedly
rose in February to a seven-year high. A $26 billion sale of two-year
notes was rated a ‘4’ by five of the Fed’s primary dealers.
Source : Bloomberg
0 komentar :
Post a Comment