U.S. stocks
fluctuated, the dollar advanced and Treasuries rose as investors
assessed the outlook for higher interest rates after consumer prices
fell short of the Federal Reserve’s inflation target.
The Standard &
Poor’s 500 Index fell 0.1 percent at 12:42 p.m. in New York. The Nasdaq
Composite Index approached an all-time high as Netflix Inc. and Google
Inc. paced gains in technology shares. The Stoxx Europe 600 Index
climbed 0.4 percent. The Bloomberg Dollar Spot Index added 0.2 percent,
while the yield on 10-year Treasuries slipped one basis point to 1.89
percent. West Texas Intermediate crude fluctuated near $47.50 a barrel.
Gold rose 0.1 percent.
The cost of living in
the U.S. climbed 0.2 percent in February, as fuel costs stabilized.
Prices were unchanged from a year earlier. 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.
The Bloomberg dollar
gauge had its biggest drop in three years last week and U.S. equities
rallied after the Fed cut projections for future interest rates,
inflation and growth. The S&P 500 is less than 1 percent from its
latest all-time high set on March 2, while the Nasdaq Composite Index
closed Monday 0.8 percent below its March 2000 record.
Source : Bloomberg
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