Traders of United States short-term interest-rate futures kept bets the Federal Reserve will stick to three rate hikes this year.
In the bond market, U.S. Treasury prices edged higher, pushing yields lower; the benchmark 10-year yield slipped 2 bps to 2.87% as a $21B 10-year note auction drew a high yield of 2.889% on a bid-to-cover of 2.50, slightly above the average of the prior 12 auctions. The S&P 500 closed at 2,783.02 for a loss of -3.55 points or -0.13%.
The S&P/TSX composite index closed up 26.98 points to 15,604.79 on a day that saw gold and base metals move higher while energy stocks weighed on the market. Rapid gains in technology stocks have already powered the Nasdaq back to its record levels.
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It is the biggest break in Republican unity during the Trump administration so far. "But that's not to say it will stay that way". He said trade wars can only be lost and that Congress "cannot be complicit as the administration courts economic disaster".
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"We're seeing some positive follow through, but it would not surprise me to see some profit-taking coming off a very powerful performance on Friday", Bakhos said.
Persistent concern of a global trade war, after President Donald Trump implemented 25% tariff on steel imports and 10% on aluminium imports to the United States, also continued to weigh on investor sentiment. The Dow rose more than 100 points earlier in the session as shares of Apple and Goldman Sachs reached all-time highs.
The news came shortly after the Labor Department said its consumer price index rose 0.2% in February. Lumentum's shares rose 3.8 percent. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. It is not a solicitation to make any exchange in commodities, securities or other financial instruments.