[unable to retrieve full-text content]Stocks Mixed on China Concern, Dovish ECB Comments: Markets Wrap Yahoo Finance Source link
Read More »Stocks Mixed on China Concern, Dovish ECB Comments: Markets Wrap – Yahoo Finance
Tech leads stocks higher as earnings rush in, ECB hikes rates
Technology stocks led markets higher for a third straight session Thursday as investors mulled a slew of mixed earnings and a surprise rate hike from the European Central Bank. The tech-heavy Nasdaq Composite gained 1.3%, while the benchmark S&P 500 index rose 1%. The Dow Jones Industrial Average added 160 points, or 0.5%. Shares of Amazon (AMZN) pushed higher for a seventh straight day, placing the e-commerce giant on pace for its longest winning streak since June 2020. The stock climbed 13%… Source link
Read More »New ECB bond-buying tool makes ‘no sense’: Strategist
The European Central Bank raised rates for the first time in more than a decade on Thursday, boosting its benchmark interest rate by a half-percentage point. At the same time, the central bank rolled out a new flexible bond-buying program it’s dubbing the Transmission Protection Instrument, or TPI. The latter is an effort to smooth out the volatility triggered by the central bank’s shifting rate policy. And this rollout caused a bit of confusion in markets, with the euro spiking as high as… Source link
Read More »Spanish Inflation Unexpectedly Quickens, Raising Pressure on ECB
(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast Most Read from Bloomberg Spanish inflation unexpectedly quickened, denting hopes that the euro zone’s record price surge is peaking and piling more pressure on the European Central Bank to act. The acceleration — to 8.5% in May from 8.3% the previous month under European Union harmonized standards — came as increases in fuel costs offset an easing in electricity prices that have… Source link
Read More »European markets weighed down as investors brace for ECB tapering
Markets made muted moves on Thursday morning in London. Photo: Getty European markets saw a muted open on Thursday morning in London, with the FTSE 100 pulling back slightly at the opening bell. Markets are being weighed by talk of the European Central Bank withdrawing its monetary stimulus due to rising inflation. BHP Group (BHP.L) was among the top fallers in the FTSE, falling 4.8% in early trade as it was outbid for a nickel miner active in Canada’s highly-prospective Ring of Fire region… Source link
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