US stocks were little changed on Monday on the heels of a rally in the prior week
US stocks were little changed on Monday on the heels of a rally in the prior week, as investors weighed fluctuations in the dollar and its impact on other markets, including crude prices. The Nasdaq was less than 0.5 percent of a closing record set on March 10, 2000. Equity market gains ebbed and flowed, tracking the behavior of energy stocks as crude oil prices were caught between the weakness in the U.S. dollar and concerns about oversupply. The S&P 500 energy sector .SPNY was up 0.1 percent after earlier gaining as much as 0.9 percent. The action in the dollar has closely affected stocks of late as traders anticipate monetary policy tightening by the Federal Reserve some time later this year. The 20-day correlation between the dollar index .DXY and the S&P 500 sits at -0.79. The dollar index was down 0.9 percent on the day. Full Report: (VIEW LINK)
Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
No areas of expertise