U.S. stock-index futures fell on Thursday, as investors continued to digest the FOMC's latest policy statement and its updated forecasts for еру U.S. interest rates. A disappointing jobless claims report was also in focus.
Global Stocks:
Index/commodity | Last | Today's Change, points | Today's Change, % |
Nikkei | 29,018.33 | -272.68 | -0.93% |
Hang Seng | 28,558.59 | +121.75 | +0.43% |
Shanghai | 3,525.60 | +7.28 | +0.21% |
S&P/ASX | 7,359.00 | -27.20 | -0.37% |
FTSE | 7,146.26 | -38.69 | -0.54% |
CAC | 6,649.64 | -3.01 | -0.05% |
DAX | 15,714.91 | +4.34 | +0.03% |
Crude oil | $72.05 | -0.14% | |
Gold | $1,787.10 | -4.02% |
(company / ticker / price / change ($/%) / volume)
ALCOA INC. | AA | 34.84 | -0.52(-1.47%) | 29315 |
ALTRIA GROUP INC. | MO | 47.32 | -0.05(-0.11%) | 35331 |
Amazon.com Inc., NASDAQ | AMZN | 3,399.00 | -16.25(-0.48%) | 20616 |
American Express Co | AXP | 164.7 | 0.02(0.01%) | 1813 |
AMERICAN INTERNATIONAL GROUP | AIG | 51.86 | 0.18(0.35%) | 4780 |
Apple Inc. | AAPL | 129.61 | -0.54(-0.41%) | 667059 |
AT&T Inc | T | 29.07 | 0.01(0.03%) | 131375 |
Boeing Co | BA | 241.41 | -0.86(-0.36%) | 70609 |
Caterpillar Inc | CAT | 216.5 | -0.66(-0.30%) | 5943 |
Chevron Corp | CVX | 109.17 | -0.50(-0.46%) | 8346 |
Cisco Systems Inc | CSCO | 53.25 | -0.22(-0.41%) | 12726 |
Citigroup Inc., NYSE | C | 72.1 | 0.64(0.90%) | 124165 |
Deere & Company, NYSE | DE | 335.8 | -0.76(-0.23%) | 1605 |
Exxon Mobil Corp | XOM | 63.75 | -0.35(-0.55%) | 88764 |
Facebook, Inc. | FB | 329.5 | -1.58(-0.48%) | 59161 |
FedEx Corporation, NYSE | FDX | 294.98 | 0.30(0.10%) | 2153 |
Ford Motor Co. | F | 15.41 | 0.39(2.60%) | 3938077 |
Freeport-McMoRan Copper & Gold Inc., NYSE | FCX | 36.12 | -0.94(-2.54%) | 171265 |
General Electric Co | GE | 13.4 | -0.04(-0.30%) | 105422 |
General Motors Company, NYSE | GM | 61.98 | 0.22(0.36%) | 138022 |
Goldman Sachs | GS | 373.2 | 2.20(0.59%) | 13659 |
Hewlett-Packard Co. | HPQ | 29.07 | 0.04(0.14%) | 6204 |
Home Depot Inc | HD | 302.88 | 0.10(0.03%) | 5902 |
HONEYWELL INTERNATIONAL INC. | HON | 218.1 | -0.89(-0.41%) | 1773 |
Intel Corp | INTC | 56.87 | -0.35(-0.61%) | 83269 |
International Business Machines Co... | IBM | 147.32 | -0.51(-0.35%) | 3538 |
Johnson & Johnson | JNJ | 163.5 | -0.93(-0.57%) | 3152 |
JPMorgan Chase and Co | JPM | 157.18 | 0.91(0.58%) | 71431 |
McDonald's Corp | MCD | 234.98 | -0.60(-0.25%) | 2450 |
Merck & Co Inc | MRK | 76.27 | -0.34(-0.44%) | 7837 |
Microsoft Corp | MSFT | 256.39 | -0.99(-0.38%) | 94416 |
Nike | NKE | 129.45 | -0.95(-0.73%) | 32173 |
Pfizer Inc | PFE | 39.2 | -0.10(-0.25%) | 57243 |
Procter & Gamble Co | PG | 132.5 | -0.28(-0.21%) | 5446 |
Starbucks Corporation, NASDAQ | SBUX | 111 | -0.36(-0.32%) | 4037 |
Tesla Motors, Inc., NASDAQ | TSLA | 600.3 | -4.57(-0.76%) | 134950 |
The Coca-Cola Co | KO | 54.59 | -0.08(-0.15%) | 46298 |
Travelers Companies Inc | TRV | 152.4 | -0.39(-0.26%) | 1228 |
Twitter, Inc., NYSE | TWTR | 59.62 | -0.31(-0.52%) | 49084 |
UnitedHealth Group Inc | UNH | 396 | -1.25(-0.31%) | 2597 |
Verizon Communications Inc | VZ | 56.57 | -0.07(-0.12%) | 64196 |
Visa | V | 228.5 | -1.10(-0.48%) | 4448 |
Wal-Mart Stores Inc | WMT | 136.78 | -0.37(-0.27%) | 22429 |
Walt Disney Co | DIS | 174.4 | -0.26(-0.15%) | 13310 |
Yandex N.V., NASDAQ | YNDX | 68.58 | 0.18(0.26%) | 4213 |
Coca-Cola (KO) target raised to $63 from $60 at Argus
FXStreet reports that the retreat in US Treasury yields over the past month or so seems at odds with the US economy’s fundamentals, and economists at Capital Economics doubt that it will be sustained. Their forecast that the 10-year yield will end 2021 well above its current level implies that US equities will fail to make further gains this year.
“While we forecast that the Fed will keep rates on hold for a few years yet, we expect higher inflation to prove more persistent than many expect. We think this will lead investors to judge that a greater degree of tightening will be needed further down the line, pushing up long-dated bond yields. This informs our forecast that the US 10-year yield will end 2021 at 2.25%, up from just below 1.50% at present.”
“We suspect that a jump in yields on that scale would knock some of the wind out of the US stock market’s sails, particularly when valuations and analysts’ expectations for corporate earnings are already high. Our forecast is that the S&P 500 will end 2021 at 4,200, a bit below its current level.”
“Higher bond yields might also help the rotation in stock markets to get back on track following its recent pause.”
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