The Dow Jones jumped to a new record level, as growing optimism about the reopening of society drove investors into cyclical stocks. On the other hand, rising bond yields make it difficult for tech stocks and the Nasdaq fell 0.6 percent. The S&P 500 caught up with the fall from earlier today, and ended up 0.1 percent – another new record for the index.
The 10-year interest rate jumped 10 basis points to 1.64 percent – the highest level since February 2020. Ralf Preusser, chief strategist at Bank of America, tells CNBC that the market sees high interest rates as a threat.
– Higher interest rates, less deaf banks are now considered the biggest single threat to risky “assets”, says Preusser and adds:
– As the crisis package was adopted and the vaccination of the US population progresses, many of the other risks disappear.
Gold, silver, oil and crypto
Gold is rising marginally by 0.017 percent and one ounce is trading at $ 1,722.9.
Silver is down 0.83 percent, and an ounce is now trading at $ 25,975.
Brent oil is falling marginally, but is still at levels similar to before the pandemic. A barrel of North Sea oil is currently trading at $ 69.2.
Bitcoin has fallen 1.17 percent in the last 24 hours, and a “coin” is now trading for 57,056 dollars.
Ethereum has fallen 4.01 percent in recent hours, and a “coin” is now trading for $ 1,754.
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