Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsOther languagesNews of the index componentsMarketScreener Strategies

Dow Jones Industrial Average : U.S. stocks, dollar sluggish, all eyes on Fed meet this week

07/26/2021 | 05:30pm EDT
People wearing face masks walk by the NYSE during the COVID-19 outbreak in New York City, New York

NEW YORK (Reuters) - U.S. stocks touched record highs in choppy trade on Monday and the dollar weakened, as investors avoided making new, bold bets before this week's Federal Reserve policy meeting, which might offer clues on the outlook for monetary policy.

The performance in U.S. shares contrasted with sharp losses in Asia overnight, when MSCI's broadest index ofAsia-Pacific shares outside Japan fell 2.1%to its lowest since December, hurt by concerns over tighterregulations in China.

In the United States, investors will closely parse comments by Federal Reserve Chair Jerome Powell on Wednesday after a two-day policy meeting for clues on how the central bank will start tapering its asset purchases, its assessment of inflation risks, and the future of interest rates.

"Powell will likely highlight that the recovery is on trackbut COVID remains a key downside risk," analysts at Bank ofAmerica said in a research note, adding that details about the Fed's tapering of asset purchases would probably be revealed in future meetings.

After vacillating between modest gains and losses for most of the day, U.S. stock indexes managed to nudge higher to eke out record closes.

The Dow Jones Industrial Average added 83 points, or 0.24%, to finish at an all-time high of 35,144.31, while the S&P 500 rose 10.5 points, or 0.24%, to end at 4,422.3, also a record close. The Nasdaq Composite was little changed, adding just 3.7 points, or 0.03%, to close at 14,840.71.

In a sign that risk appetite remained firm on Wall Street, bitcoin, the world's biggest cryptocurrency and sometimes an indicator of the demand for risk, soared 8.6% to $38,557.16, while ether jumped 5.1% to $2,304.66.

Speculation that online retailing giant Amazon.com Inc might accept bitcoin as payment sparked the latest rally, and short sellers covering their positions added to the surge.

On the other hand, the U.S. dollar, which usually benefitswhen investors are seeking safety, softened as investors turnedtheir attention to the Fed meeting.

The dollar index fell 0.301% to 92.612, but not far from a 3-1/2-month high of 93.194 struck last week. A softer dollar bolstered the euro, which gained 0.31% to $1.1855. [USD/]

The dollar has gained nearly 4% from a low on May 25 as animproving U.S. economy bolstered the outlook for the Fed tostart paring asset purchases as early as this year.

Indeed, investors have been pulling money out of Asian andemerging market stocks and putting them into U.S. shares instead, attracted by forecast-beating earnings and a recovery in the U.S. economy.

Bond markets have remained remarkably untroubled by theprospect of eventual tapering. Yields on U.S. 10-year notes have fallen for four weeks in a row - they slipped to a low of 1.221% on Monday before rebounding to 1.2946%.

But the drop in Treasury yields has done little to underminethe dollar, in part because European yields have fallen evenfurther amid expectations of continued massive bond buying bythe European Central Bank.

Gold prices also weakened as investors turned cautious ahead of the Fed policy meeting. Spot gold dropped 0.2% to $1,797.64 an ounce. U.S. gold futures fell 0.23% to $1,797.20 an ounce. [GOL/]

Oil prices reversed earlier losses, buoyed by views that a tight supply for the rest of the year will support prices.

U.S. crude recently fell 0.01% to $72.06 per barrel while Brent was at $74.50, up 0.54% on the day. [O/R]

(Reporting by Koh Gui Qing; additional reporting by Wayne Cole in Sydney and Dhara Ranasinghe in London; editing by Nick Macfie, Alex Richardson and Dan Grebler)

By Koh Gui Qing

ę Reuters 2021
All news about DJ INDUSTRIAL
09/19AusNet Services Gets A$9.58 Billion Takeover Proposal From Brookfield Asset M..
09/19Transurban-Led Consortium to Take Full Control of WestConnex for A$11.1 Billi..
09/19Prudential Plans to Raise Up to US$2.89 Billion in Hong Kong Share Offer
09/19Transurban-Led Consortium to Take Full Control of WestConnex in A$11.1 Billio..
09/19DEUTSCHE LUFTHANSA AG : Deutsche -2-
09/19DEUTSCHE LUFTHANSA AG : Deutsche Lufthansa AG decides on EUR 2.1 billion capital..
09/19PRESS RELEASE : Novartis presents new Kisqali(R) -2-
09/19PRESS RELEASE : Novartis presents new Kisqali(R) data showing longest median ove..
09/19Novartis presents new Kisqali(R) data showing longest median overall survival..
09/18PRESS RELEASE : FDA Advisory Committee Votes -4-
More news
News of the index components DJ INDUSTRIAL
09/19JOHNSON & JOHNSON : Chris Rock says he tested positive for COVID-19
09/19JOHNSON & JOHNSON : Chris Rock says he has COVID-19, urges vaccination
09/19JOHNSON & JOHNSON : RYBREVANT« (amivantamab-vmjw) Provides Higher Activity and L..
09/19JOHNSON & JOHNSON : New Data on RYBREVANT« (amivantamab-vmjw) in Combination wit..
09/19MERCK : KEYTRUDA« (pembrolizumab) Plus Chemotherapy Reduced Risk of Death by 27%..
09/18VERIZON COMMUNICATIONS : announces accepted amounts and pricing terms for exchan..
09/18MERCK : KEYTRUDA« (pembrolizumab) Plus Chemotherapy With or Without Bevacizumab ..
More news
Duration : Period :
DJ Industrial Technical Analysis Chart | DJI | US2605661048 | MarketScreener
Technical analysis trends DJ INDUSTRIAL
Short TermMid-TermLong Term
AMGEN INC. 219.38 Delayed Quote.0.93%
UNITEDHEALTH GROUP 420.16 Delayed Quote.0.80%
AMERICAN EXPRESS COMPANY 163.92 Delayed Quote.0.79%
PROCTER & GAMBLE COMPANY 144.34 Delayed Quote.0.16%
SALESFORCE.COM, INC. 260.53 Delayed Quote.0.07%
THE COCA-COLA COMPANY 54.44 Delayed Quote.-1.64%
MICROSOFT CORPORATION 299.87 Delayed Quote.-1.75%
APPLE INC. 146.06 Delayed Quote.-1.83%
CATERPILLAR INC. 199.75 Delayed Quote.-1.89%
DOW INC. 57.75 Delayed Quote.-2.89%
Heatmap :