Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Energy Down Sharply As Fed Seen Taming Inflation -- Energy Roundup

06/17/2021 | 04:37pm EDT

Shares of energy companies tumbled as traders rotated out of sectors sensitive to changes in Federal Reserve policy and inflation trends.

The energy sector has been on a tear in recent months, as investors brace for a prolonged period of inflation stoked by a sudden reawakening of the global economy. The Fed's warning that it was monitoring inflation weighed on the sector that has become a proxy for inflation expectations.

"The Fed solidified a more hawkish shift in tone and laid the groundwork for increased policy flexibility over coming months," said economists at brokerage Morgan Stanley in an analysis of the central bank's Wednesday statement produced for clients. "Forecast changes indicate ... that the Fed may have previously erred on the side of overestimating how long it would need to keep its foot on the gas pedal ... but now the Committee sees an economy that may need less policy support in order to achieve the same outcomes."

 Write to Rob Curran at rob.curran@dowjones.com 

(END) Dow Jones Newswires

06-17-21 1637ET

Latest news "Economy & Forex"
08:57aAbbVie raises annual profit forecast as Botox demand rebounds
RE
08:56aCanada economy seen jumping by 0.7% in June as COVID-19 measures were lifted
RE
08:55aVehicle maker CNH Industrial ups forecasts after beating quarterly expectations
RE
08:53aU.S. Personal Spending +1.0% in June
DJ
08:48aU.S. consumer spending rises strongly in June; inflation increases
RE
08:46aChevron tops profit estimates, joins share buyback stampede
RE
08:42aAmazon hit with $886 million EU data privacy fine
RE
08:38aRAJESH KUMAR : Caterpillar earnings soar as global recovery boosts equipment demand
RE
08:25aMichael Kors parent Capri lifts annual forecasts on luxury rebound
RE
08:23aImperial Oil posts 7% fall in quarterly profit
RE
Latest news "Economy & Forex"