LONDON (Reuters) - U.S. stock futures were buoyant before the open on Friday after the S&P 500 rose to a record on Thursday on easing inflation fears, and world stocks also scored a record high.
(Reuters) - Gold scaled a three-week peak on Thursday after minutes from the Federal Reserve's latest policy meeting reassured investors that interest rates will remain low for some time, pushing the dollar and U.S. yields lower.
(Reuters) - The benchmark S&P 500 hit a record high on Thursday, helped by gains in tech-related stocks, a day after the Federal Reserve reiterated its pledge to keep interest rates low until the economic recovery is more secure.
Spot gold gained 0.3 per cent at $1,741.85 per ounce by 0927 GMT. US gold futures rose 0.1 per cent to $1,742.90 per ounce
Stocks in Europe reached record highs, buoyed by optimism in Britain over easing lockdown restrictions, while a benign outlook for US interest rates was set to push Wall Street to new heights
The median Fed policymaker projection for economic growth in 2021 was increased from 4.2% as of December to 6.5%, which would if achieved be the fastest rate of expansion since 1984
The gains were minor and short-lived. Many market participants question whether the Fed will hold off so long on a rate hike
Non-yielding bullion is highly sensitive to higher rates, as they increase the opportunity cost of holding gold and boost dollar and bond yields.
Spot gold was down 0.4% to $1,737.09 per ounce by 0946 GMT. US gold futures slipped 0.3% to $1,737.70 per ounce
While America's booming economy will undoubtedly act as a driver for the rest of the world by sucking in imports, there could also be some grumbling about the higher market borrowing costs
Federal Reserve policymakers are optimistic about the US economic outlook as more Americans are vaccinated and government aid gets to households and businesses, and they are not going to stand in way
Besides Wood, analysts at Credit Suisse Wealth Management also recommend hiking exposure to cyclical stocks as they do not see a repeat of the stringent lockdown seen in 2020
Powell is appearing before the committee along with Treasury Secretary Janet Yellen as part of Congressional oversight of the government's response to the pandemic
Evolving conditions in both domestic and international markets can materially increase policy complexities
Sensex and Nifty doubled in less than 11 months, touching record highs, while several stocks jumped manifold
Federal Reserve Chairman Jerome Powell says the economic recovery from the pandemic has progressed more quickly than expected, but the central bank does not intend to let up in its support efforts
Federal Reserve Chair Jerome Powell said Monday that the US public needs to understand the risks behind Bitcoin and other crypto currencies
The US Fed has learned from the "taper tantrum", and will carefully choreograph words and deeds in the coming years
The economic situation in the US is much improved since the Covid-19 pandemic hit, but the recovery is "far from complete", Federal Reserve Chairman Jerome Powell said
Shares of the largest US banks fell after the news, with JPMorgan Chase & Co losing as much as 4 per cent before closing down 1.6 per cent on the day