US Stocks Gain But Poised To Snap 10-month Winning Streak


Among early decliners was No. 2 home improvement chain Lowe's, whose shares slumped 7 percent after the company's quarterly profit missed estimates as margins fell.

The Fed's last round of economic projections in December pointed to three rate increases this year, but Powell's testimony before the US House of Representatives' Financial Services Committee, prompted investors to increase bets on four rate increases in 2018.

It has clawed back from the three-year trough of 88.253 set in mid-February, as fears of a ballooning USA budget deficit and worries of a possible weak-dollar policy from Washington took a toll. Rate futures fell following Powell's remarks as traders began pricing in about a one-in-three chance of a fourth hike this year. Futures on the S&P 500 Index fell 0.3%.

Singapore eased 0.2 percent and Seoul was off 1.2 percent, with Manila and Mumbai also lower.

Eurozone bond yields initially rose after Powell's early comments but soon trimmed those gains in line with USA bond yields.

"Equities and risk assets may wobble as yields rise, but stronger growth should be good for corporate earnings and offset the impact from the expected increase in central bank policy rates", the world's biggest asset manager BlackRock said.

Treasury yields also began jumping Tuesday following Powell's comments, as the yield on the USA 10-year Treasury note climbed to 2.90 per cent from 2.86 per cent late Monday.

With a nod to the new tax-cutting law, Powell noted that "fiscal policy is becoming more stimulative" and he predicted inflation would rise this year and stabilize around the Fed's 2 percent target.

A monthly loss for the S&P 500 .spx and the Dow Industrials .dji would be their first fall since March of previous year.

The Undertaker, Rey Mysterio Among Possible John Cena WrestleMania 34 Opponents
Aiden English and Rusev were in the ring, and English sang a song about Shinsuke Nakamura before English's match with Nakamura. And remember, you can claim a free £30 bet with Sun Bets when you sign up put a tenner on this weekend's football here.

Avengers: Infinity War Release Date Bumped Up
Avengers: Infinity War will be the beginning of the end for the iconic superhero team as we've come to know it. It will be interesting to see if other studios scatter their movies to avoid getting crushed by Infinity War .

Jay-Z displaces Diddy atop 'Forbes' list of richest hip-hop stars
Dre , is expected to add a nine-figure windfall of Apple stock to his estimated $770 million wealth this summer, Forbes said. Somehow a year later Jay managed to go from a cool $810 million to his $900 million spot.

In contrast, European Central Bank president Mario Draghi said on Monday that slack in the euro zone economy may be bigger than previously estimated.

The losses came amid a broad selloff on Wall Street, where the Dow and S&P 500 capped their worst months since January 2016 overnight.

Meanwhile, latest data show that US gross domestic product climbed by 2.5 percent in the fourth quarter of 2017, against an estimated 2.6 percent increase.

About 7.4 billion shares changed hands on United States exchanges.

Japan's Nikkei 225 slipped 105 points, or 0.47%.

Sterling was one of the better performing G10 currencies yesterday, although still lost ground against a resurgent US Dollar. Powell's comments were interpreted by some investors as opening the door for more aggressive rate hikes, although he retained the outlook for increases to be gradual.

Gold decreased 0.8 percent to $1,308 an ounce, the weakest in two months.

COMMODITIES: Benchmark U.S. crude fell $1.22 to $61.79 while Brent crude, the worldwide standard, dropped $1.19 to $65.33 per barrel.

The Australian dollar was down 0.4 percent at $0.7730 after brushing $0.7710 AUD=D4 , its lowest since late December.

Related News:

Most liked

City get back to business at the CFA
Wenger has previously indicated that he turned down job offers from Real Madrid and Paris St-Germain, among other clubs. Turning to Swanson, Wenger quipped: "I'm just amazed that I have to always answer things that are exactly the same".

Snow-covered Britain braced for new threat as Storm Emma nears
The red snow warning issued for Wales and south-west England, valid until 2am on Friday, is just the third issued in seven years. Heavy snowfall is expected across the country today as Britain braces itself for the arrival of Storm Emma from the Atlantic.

White House preparing for exit of national security advisor HR McMaster
McMaster replaced former national security adviser Michael Flynn amid controversy surrounding his meeting with a Russian diplomat. Multiple reports have indicated McMaster could depart the White House amid months of tension with President Donald Trump .

Korea: US sanctions will 'never work'
Kim Jong-un's sister Kim Yo Jong was at the opening ceremony of the 2018 Winter Olympic Games in South Korea earlier this month . In this February 29, 2016, photo, American student Otto Warmbier cries while speaking to reporters in Pyongyang, North Korea.

'Beast from the East' sparks red alert snow warning for Ireland
The National Emergency Co-ordination Committee will meet again this morning to discuss the deteriorating situation. Cork Airport, Kerry Airport, Shannon Airport and Ireland West Airport will reopen on tomorrow morning.

Uber Health Gives Patients Rides to Doctor's Appointments
Uber Health's data is "cordoned off" from Uber's other data and only a select number of employees are given access to it, he said. The entire process is conducted via text message, so there is no need to have a smartphone advanced enough to run the Uber app.

India plans to seize property of economic offenders who flee overseas
It provides for confiscating assets even without conviction and paying off lenders by selling off the fugitive's properties. Jaitley said the bill was focused on the confiscation of assets because the "trial of a fugitive will never be complete".

IOC Lifts Ban On Russia's Olympic Committe
The World Anti-Doping Agency said it would continue to regard Russia's domestic drug testing organization as noncompliant until it does.

194 flu deaths reported across Oklahoma this season
The College also takes into account its budget for vaccinations and growing number of off-campus flu vaccination options. While the vaccine is the first line of defense, a CDC study found that this year, it's been only 36 percent effective .

Kelly Clarkson Joins 'The Voice' Family As Season 14 Blind Auditions Begin
Each coach has the opportunity to block another coach during the auditions when vying for an artist to be on their team . King picks Kelly! The final Blind Audition performance of the night belonged to Buffalo, Texas native Justin Kilgore .

Omarosa talks life after 'Celebrity Big Brother'
On Wednesday night, fresh out of the " Big Brother " house, Omarosa appeared on " The Late Show With Stephen Colbert " to reflect. She called each moment "awful" but added that she didn't regret trying to be "the voice of reason at the table".

Oakland Mayor's Tweet of Pending Immigration Raids Causes Stir
According to ICE officials, he was a documented Sureño gang member who has been previously been deported on four prior occasions. The Trust Act specifically forbids police from detaining immigrants for ICE after a judge has ordered them released.

Apple to Launch Healthcare, Wellness Clinics for Employees
The tech company is planning on opening wellness clinics for its roughly 123,000 employees worldwide. Apple isn't just the most valuable company in the world, it's also one of the most trusted.

Huawei Y5 Lite (2018) to run on Android Oreo Go Edition
Under the hood, the smartphone is powered by a quad-core MediaTek MT6737M processor clocked at 1.1GHz and paired with Mali720 GPU. The specifications might sound outdated, but the fact that it runs Google's Android Oreo Go can not be ignored.

Espanyol defeat sums up Real Madrid's miserable campaign in La Liga
When asked If he believes Nigeria can win the world cup, he said "I'm behind Nigeria all the way, Super Eagles have good players but are in a tough group".