Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:


  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

US stocks fall as investors mull how stimulus will impact inflation

Published by Business Insider on Mon, 22 Feb 2021

<p><img src="https://static2.businessinsider.com/image/6033b1e1623bd30012bcc7f4-2400/gettyimages-1206168177.jpg" border="0" alt="NYSE Trader Blur" data-mce-source="Timothy Clary/AFP/Getty Images" data-mce-caption="Traders on the floor react before the opening bell on the New York Stock Exchange on March 9, 2020 in New York."></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li><strong>US stocks fell Monday morning as investors weighed how the next stimulus will impact inflation.&nbsp;</strong></li><li><strong>Commodity prices are soaring and the 10-year US treasury note is at its highest point in a year.</strong></li><li><strong>Bitcoin fell 10% after skyrocketing to new records over the weekend.</strong></li><li><strong><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</strong></li></ul><hr><p>US stocks fell Monday morning as investors remained cautious that a large federal stimulus, coupled with surging commodity prices and rising government bond yields could lead to a rise in inflation, just as the world economy is starting to bounce back from the coronavirus pandemic.&nbsp;</p><p>The yield on the benchmark <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">10-year US Treasury note</a>&nbsp;is around 1.37%, its highest in a year, having doubled in the space of six months.&nbsp;<br><br>"Near-term Treasury bond prices are likely to remain under pressure as yields rise in anticipation of the economic re-openings that lie ahead. That said, in our experience the bond market has been known to project its expectations for inflation well beyond levels that are justified by the trends in the actual inflation rate," said John Stoltzfus Oppenheimer Asset Management chief investment strategist.&nbsp;</p><p>US lawmakers will debate on President Joe Biden's proposed <a href="https://www.businessinsider.com/what-is-in-bidens-stimulus-child-credits-checks-minimum-wage-2021-2'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">$1.9 trillion American Rescue Plan act</a> this week. Also, Federal Reserve chairman Jerome Powell will deliver testimony to the Senate Banking and House Financial Services Committees.&nbsp;</p><p><strong>Here's where US indexes stood after the 9:30 a.m. ET open on Monday:</strong></p><ul><li><strong><a href="https://markets.businessinsider.com/index/s&amp;p_500'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">S&amp;P 500</a>:</strong> 3,876.91, down 0.76%</li><li><strong><a href="https://markets.businessinsider.com/index/dow_jones'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Dow Jones industrial average</a>:</strong> 31,321.81, down 0.55% (172.51 points)</li><li><strong><a href="https://markets.businessinsider.com/index/nasdaq_composite'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Nasdaq composite</a>: </strong>13,719.52, down 1.11%</li></ul><p>"Big Short" investor Michael Burry warned over the weekend that rampant speculation and widespread betting with borrowed money <a href="https://markets.businessinsider.com/news/stocks/big-short-michael-burry-warns-stock-market-huge-risk-crashing-2021-2-1030106969">has driven the stock market to the brink of collapse</a>.&nbsp;</p><p>"Speculative stock #bubbles ultimately see the gamblers take on too much debt," the investor&nbsp;<a href="https://twitter.com/michaeljburry/status/1363383141168128004" target="_blank" rel="noopener">tweeted</a>, along with a chart showing the S&amp;P 500 index and levels of margin debt both soaring in recent months. "The market is dancing on a knife's edge," Burry said.</p><p><a href="https://markets.businessinsider.com/news/stocks/toast-ipo-valuation-plan-around-20-bln-wsj-restaurant-2021-2-1030106842">Toast Inc, a cloud-based restaurant-software provider, is planning an initial public offering</a> that could value the firm at around $20 billion, the <a href="https://www.wsj.com/articles/restaurant-software-provider-toast-prepares-for-ipo-11613938981" target="_blank" rel="noopener">Wall Street Journal reported</a>.</p><p>Bitcoin fell 10% to a 24-hour low under $52,000. The drop follows Sunday's record high of $58,330.&nbsp;</p><p>Oil prices were higher. <a href="https://markets.businessinsider.com/commodities/oil-price'type=wti'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">West Texas Intermediate crude</a> increased 2.3% to $60.60 per barrel.&nbsp; <a href="https://markets.businessinsider.com/commodities/oil-price'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Brent crude</a>, oil's international benchmark, rose 1.75% to $64.01 per barrel.</p><p><a href="https://markets.businessinsider.com/commodities/gold-price'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Gold</a> gained about 1% to $1,795.80 per ounce.&nbsp;</p><p>&nbsp;</p><p><a href="https://www.businessinsider.com/stock-market-news-today-stimulus-inflation-yields-bonds-rising-sp500-2021-2#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/how-parasite-delivered-one-of-the-best-twists-in-cinema-2020-2">What makes 'Parasite' so shocking is the twist that happens in a 10-minute sequence</a></p>
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs