This is a Fed week, with the FOMC due to release their latest decision on interest rates (and provide more color on the timing of balance sheet reductions) on Wednesday. As is typically the case − markets traded cautiously ahead of the announcement. The upcoming French election on May 7th may also be causing investors to refrain from making big moves one way or the other.
At the close, the Industrials were down 27 points while the Nasdaq managed to climb 0.73% and the broader S&P 500 rose 0.17%. Earlier in the day, European markets were little changed (the Stoxx 600 fell 0.12%) and Asian markets were in the green, with the DJ Asia-Pacific Total Stock Market index up a quarter percent.
The dollar staged a modest gain, up 0.07% to 98.74. Meanwhile, Treasuries sold off, causing the yield on the 10-year note to rise to 2.32%.
On the commodities side, light crude fell ... Log in or subscribe to continue reading.