Market Overview

U.S. Stocks Are Mixed

U.S. Stocks Are Mixed

The S&P 500 closed little changed after erasing earlier gains when Philadelphia Fed President Patrick Harker said the central bank should speak about reducing bond buying sooner rather than later. The tech-heavy Nasdaq 100 finished lower, while the Dow Jones Industrial Average gained as investors shifted from growth to value favorites such as Boeing. Bitcoin resumed its selloff Friday after China reiterated a warning that it intends to crack down on cryptocurrency mining as part of an effort to control financial risks.

European shares climbed earlier on prospects of easing lockdowns and as services data signaled a recovery. Asian shares were mostly higher, although they slipped in China. Treasury yields were little changed and the dollar gained. Gold dropped from its highest level in more than four months.

China’s has long expressed displeasure with the anonymity provided by Bitcoin and other crypto tokens, and warned earlier in the week that financial institutions weren’t allowed to accept it for payment. China is home to a large concentration of the world’s crypto miners, programmers who use massive computing power to verify transactions on the blockchain.


The S&P 500 was little changed as of 4:01 p.m. New York timeThe Nasdaq 100 fell 0.6%The Dow Jones Industrial Average rose 0.4%The MSCI World index was little changed


The Bloomberg Dollar Spot Index rose 0.2%The euro fell 0.3% to $1.2187The British pound fell 0.2% to $1.4155The Japanese yen fell 0.1% to 108.90 per dollar


The yield on 10-year Treasuries was little changed at 1.62%Germany’s 10-year yield declined two basis points, more than any closing loss since May 4Britain’s 10-year yield was little changed at 0.83%


West Texas Intermediate crude rose 3.1%, the most since April 14Gold futures fell 0.1% to $1,882 an ounce, ending a six-day winning streak

U.S. Stocks Are Mixed; Bitcoin Resumes Decline: Markets Wrap, Bloomberg, May 24

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