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  • April 5th is in the books. This is the New York Minute.

  • An early rally for the S&P 500 ran out of steam

  • on word of caution at the Federal Reserve on equity prices.

  • The minutes of the last Federal Reserve meeting released today

  • showed some members saying that prices were quite high relative to standard valuation measures.

  • The S&P 500 ended down 0.3% after rising as much as 0.8% early in the session.

  • In Europe, the German stock market fell as car makers came under pressure.

  • With the change in mood, US treasuries ended the day slightly higher,

  • with the yield on the ten-year note down two basis points, at 2.33%, near the lowest for the year.

  • Investors and traders are eagerly awaiting Friday's jobs data in the US

  • for any changes on bets on the timing of the next rate hike.

  • The futures market now shows the 63% chance of another increase in June.

  • Oil prices pair against after briefly rising above 55 dollars a barrel for the first time in a month

  • before the release of data that showed an unexpected build in US inventories.

  • And that's the New York Minute.

April 5th is in the books. This is the New York Minute.

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B1 US FinancialTimes federal reserve reserve federal stock rising

Fed frets over stock prices

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    missnerdypants posted on 2017/04/09
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