For weeks, hopes that massive stimulus from the Federal Reserve and U.S. government would set the stage for a recovery later in the year fueled a blistering rebound in stocks even as the worst drop-off in jobs since the Great Depression slammed the economy. After surging over 30% in just over a month, the S&P 500 benchmark stock index has edged down about 4% since late April. In contrast, bond funds have notched inflows for four consecutive weeks, drawing nearly $47 billion, the bank said....
For weeks, hopes that massive stimulus from the Federal Reserve and U.S. government would set the stage for a recovery later in the year fueled a blistering rebound in stocks even as the worst drop-off in jobs since the Great Depression slammed the economy. After surging over 30% in just over a month, the S&P 500 benchmark stock index has edged down about 4% since late April. In contrast, bond funds have notched inflows for four consecutive weeks, drawing nearly $47 billion, the bank said....
(Bloomberg) -- Oil was anchored near $25 a barrel as investors weighed cuts to supply by major producers such as Saudi Arabia against lingering concerns over the pace of recovery from virus-led demand destruction.Saudi Aramco reduced contractual supplies to at least 12 customers in Asia for June, according to traders notified by the company, as OPEC and its allies cut daily output by almost 10 million barrels. While there are early signs of a recovery in the U.S. energy sector, the Federal Reserve said the threat of a lasting downturn could deepen without additional government spending.OPEC also presented a bleak assessment of global oil markets for the second quarter, even as pockets of demand emerge in China and India, and Goldman Sachs Group Inc. sees rising gasoline consumption.Oil has swung between gains and losses this week as the market grapples with a nascent recovery in demand and concerns a resurgence of...
