lynetteT
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Weekly market recap
All three major stock indexes finished the week lower. The $Dow Jones Industrial Average (.DJI.US)$ dipped 1.1% this week, while the $S&P 500 Index (.SPX.US)$ shed nearly 0.6% and the $Nasdaq Composite Index (.IXIC.US)$ moved 0.7% lower.
“With Fed tapering coming while delta variant keeps spreading, the transition away from liquidity/policy regime to more mid-cycle markets means we may experience a bumpier ride ahead,” Barclays equity strategists said in a note. “Market narrative may thus turn more cautious, as concerns about peaking growth rates, delta variant and policy mistake may prove headwinds, at a time when seasonality and technicals are unfavorable.”
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All three major stock indexes finished the week lower. The $Dow Jones Industrial Average (.DJI.US)$ dipped 1.1% this week, while the $S&P 500 Index (.SPX.US)$ shed nearly 0.6% and the $Nasdaq Composite Index (.IXIC.US)$ moved 0.7% lower.
“With Fed tapering coming while delta variant keeps spreading, the transition away from liquidity/policy regime to more mid-cycle markets means we may experience a bumpier ride ahead,” Barclays equity strategists said in a note. “Market narrative may thus turn more cautious, as concerns about peaking growth rates, delta variant and policy mistake may prove headwinds, at a time when seasonality and technicals are unfavorable.”
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lynetteT
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Asia stocks set for cautious start after U.S. High: markets wrap
Asian shares looked set for a muted open Friday as the spread of the delta variant and China’s regulatory curbs subdue sentiment despite another record close on Wall Street.
Futures edged up in Japan and Australia but fell in Hong Kong. U.S. contracts were steady. Earlier, the S&P 500 hit a fresh peak, while the tech-heavy Nasdaq 100 also climbed. Ten-year U.S. Treasury yields reached a one-month high amid a tepid 30-year auction and data highlighting price pressures and a labor market recovery. A gauge of the dollar advanced.
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Asian shares looked set for a muted open Friday as the spread of the delta variant and China’s regulatory curbs subdue sentiment despite another record close on Wall Street.
Futures edged up in Japan and Australia but fell in Hong Kong. U.S. contracts were steady. Earlier, the S&P 500 hit a fresh peak, while the tech-heavy Nasdaq 100 also climbed. Ten-year U.S. Treasury yields reached a one-month high amid a tepid 30-year auction and data highlighting price pressures and a labor market recovery. A gauge of the dollar advanced.
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