Overnight, Wall Street’s benchmark S&P 500 index rose 1%, recovering about half of last week’s losses. Gains were led by tech stocks.
Investors worry a global economic recovery might be hampered if rising inflation prompts governments and central banks to withdraw stimulus. But a
“U.S. markets delivered a positive start for the week, as easing inflation concerns drive a bounce in tech,” said
The Shanghai Composite Index rose 1.8% to 3,558.89 while the
The Kospi in
India’s Sensex opened 0.2% higher at 50,738.86.
Stocks fell after hitting a record high
On Monday, the president of the
Fed officials said earlier the
“I think there will come a time when we can talk more about changing the parameters of monetary policy,” Bullard said. “I don’t think we should do it when we’re still in the pandemic.”
The S&P 500 rose to 4,197.05. The index is now on track for a 0.4% monthly gain as the latest quarterly profit-reporting season nears an end.
The Dow Jones Industrial Average added 0.5% to 34,393.98. The tech-heavy Nasdaq Composite gained 1.4% to 13,661.17.
Nvidia rose 4.1%, while
Companies that rely on direct consumer spending made solid gains, while sectors that are viewed as safe havens such as utilities lagged.
Bond yields, or the difference between the market price and the payout at maturity, fell as prices rose. That often is taken as a sign investors are less concerned about inflation, which can erode the value of that payout.
On Friday, the
Economists surveyed by FactSet expect Core PCE to be up 3% from a year ago, which would be above the Fed target.
In energy markets, benchmark
The dollar declined to