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
09/24PRESS RELEASE : zooplus announces voluntary public takeover offer by EQT at EUR 470 per sh..
09/24PRESS RELEASE : EQT AB: EQT Private Equity announces voluntary public takeover offer for a..
09/24PRESS RELEASE : EQT AB: EQT Private Equity -2-
09/24Voluntary public takeover offer by EQT for zooplus AG of EUR 470.00 per zooplus share
09/24DGAP-WPÜG : Takeover Offer / Target company: zooplus AG; Bidder: Pet Bidco GmbH
09/24Dow Jones Industrial Average : S&P 500 edges higher after bumpy week, Nike drags
09/24The WSJ Dollar Index Rises 0.12% to 87.90 -- Data Talk
09/24Euro Lost 0.05% to $1.1721 -- Data Talk
09/24Sterling Lost 0.45% to $1.3676 -- Data Talk
09/24Dollar Gains 0.68% to 110.74 Yen -- Data Talk
More news
News of the index components DJ INDUSTRIAL
03:51pJPMORGAN CHASE : Bonus checks bounce for 50 Florida teachers due to error
09/24SALESFORCE COM : How Large Corps Build Sustainable Business Models To Combat Climate Chang..
09/24AMGEN : FDA Approves Repatha« (evolocumab) In Pediatric Patients Age 10 And Older With Het..
09/24Amgen Announces U.S. Food and Drug Administration Approves Repatha in Pediatric Patient..
09/24CISCO CLOUD INSIDER WEBINAR : The State of Automation for Hybrid Clouds
09/24MCDONALDS CORP : Other Events, Financial Statements and Exhibits (form 8-K)
More news
Duration : Period :
DJ Industrial Technical Analysis Chart | DJI | US2605661048 | MarketScreener
Technical analysis trends DJ INDUSTRIAL
Short TermMid-TermLong Term
SALESFORCE.COM, INC. 285.63 Delayed Quote.2.80%
VISA 231.59 Delayed Quote.1.44%
AMERICAN EXPRESS COMPANY 175.72 Delayed Quote.1.36%
JPMORGAN CHASE & CO. 163.04 Delayed Quote.1.15%
MERCK & CO., INC. 73.61 Delayed Quote.0.77%
WALGREENS BOOTS ALLIANCE, INC. 48.31 Delayed Quote.-0.31%
PROCTER & GAMBLE COMPANY 143.55 Delayed Quote.-0.44%
AMGEN INC. 213.61 Delayed Quote.-0.67%
DOW INC. 56.81 Delayed Quote.-1.08%
NIKE, INC. 149.59 Delayed Quote.-6.26%
Heatmap :