S&P 500 margins are lower in volatile trading, with the dollar falling to a two-week low

NEW YORK (Reuters) – The S&P 500 was down slightly in volatile trading as global MSCI stock volumes were barely higher on Wednesday, halting after recent gains, while the dollar rallied. fall to two-week levels.

Major U.S. stock indices hit record highs in the opening before losing gains.

Shares of Twitter Inc rose 7.8%, a day after the company beat Wall Street estimates for quarterly sales and profits and followed their social media peers to predict a strong start to 2021 as costs advertising going back from the bottom of a cliff.

More fiscal support has pledged to power Wall Street’s key indexes to a recent series of full-time peaks, with investors moving into sectors such as energy, banks and businesses ready to benefit from a thriving economy.

President Joe Biden said Tuesday that he agreed with a recommendation from Democratic lawyers that $ 1,400 incentive checks be sent to Americans earning up to $ 75,000 and families making up to $ 150,000.

Earnings added to earlier optimism in equities markets, with French bank Societe Generale among those that beat profit expectations in the fourth quarter.

“While visibility is less good in the future, analysts attribute that to higher earnings during this year than might have been feared six months ago,” said Eric Marshall. , portfolio manager and head of research at Hodges Capital Management in Dallas.

Officials from Robinhood, Melvin Capital and Citadel Securities are expected to testify before a U.S. House of Representatives panel at a Feb. 18 hearing examining trade disruption in GameStop Corp. and other stocks, according to a Reuters report citing two known sources on the case.

The Dow Jones industrial average rose 1.56 points, or 0%, to 31,377.39, the S&P 500 lost 5.69 points, or 0.15%, to 3,905.54 and the Nasdaq Composite fell 56.23 points, or 0.4%, to 13,951.47.

The pan-European STOXX 600 index lost 0.25% and MSCI global stock volume gained 0.13%.

Bitcoin, meanwhile, confirmed recent gains on Wednesday, trading 3.7% lower at $ 44,799. It hit a new high of $ 48,216 Tuesday after Tesla announced a $ 1.5 billion investment in the virtual currency.

In the foreign exchange market, the dollar index fell 0.13%, with the euro up 0.12% to $ 1.2131.

The dollar was measured by U.S. data showing tight inflation.

U.S. Treasury Benchmark results also fell, as U.S. data showed inflation remained unusual in January, disappointing investors promising that price pressures would rise further.

The Labor Department said the consumer price index grew 0.3% last month after climbing a revised 0.2% in December.

10-year benchmark 10-year notes rose in price to 1.1431% yield, from 1.157% late Tuesday.

Oil, extending its rally for a ninth day, rose to the longest winning streak in two years, backed by producer supply cuts and hopes that a vaccine rollout will push demand back.

Brent crude rose 30 cents, or 0.5%, at $ 61.39 after touching a 13-month high of $ 61.61 earlier in the session. U.S. crude rose 22 cents, or 0.3%, to $ 58.57, after touching $ 58.76, also a 13-month high.