Wall Street Has One Of Best Days Since Mid-May As US Inflation Fears Cool
Umer Jamshaid 2 months ago Tue 25th May 2021 | 01:40 AM
NEW YORK (UrduPoint News / Sputnik - 25th May, 2021) Wall Street had one of its best days since mid-May after a surge in risk appetite and tamped down fears about US inflation lifted industrial and technology stocks.
The Federal Reserve has insisted that the higher price pressures were just transitory and will come to pass once bottlenecks in the supply chain dissipate. Investors seemed to buy some of that argument on Monday, with the Dollar and yields tied to the 10-year US Treasury note both trading sharply off May's highs.
With Monday's rebound, the S&P 500 is up 1 percent for May while the Dow has risen 0.4 percent. Nasdaq is down 2.5 percent for the month.