Stock Market Today: Dow, S&P Live Updates for Jun. 9, 2021 - Bloomberg

The dollar slipped and longer-dated Treasury yields were lower as investors awaited Thursday’s U.S. inflation report before gauging the direction of monetary policy.

The greenback weakened against six of its nine developed-world peers. The 10-year rate slipped two basis points to 1.50%. U.S. equity futures were little changed and stocks in Europe dipped. Bitcoin added 2%, trading near $34,000.

Global markets’ indecision on Wednesday signals a tug-of-war between traders who believe accelerating inflation is transitory and those who bet it’ll prove persistent enough to warrant a tapering of Federal Reserve stimulus. With stocks near record levels and U.S. yields already high relative to peers, traders find little room for maneuver. For now, the Fed’s dovish stance is calming the markets.

“Bond markets all over the world are saying that whatever happens in the headline inflation numbers, central banks are very comfortable that this inflation surge that we are seeing is going to be transitory,” Michael Jones, chief executive officer at Caravel Concepts, said on Bloomberg Television.

A rally in commodities has stalled with global recovery remaining patchy, especially with the pandemic still spreading in the developing world. The Bloomberg Commodity Index, which shows returns on a basket of raw materials, slipped 0.2%.

Shares edged up in China, where factory-gate inflation for May was at the highest since 2008 but consumer-price gains remained subdued. The nation is also considering imposing a cap on the price of thermal coal to contain high energy costs.

For market commentary, follow the MLIV blog.

Here are key events to watch this week:

• U.S. consumer price index on Thursday.
• Apple holds its annual Worldwide Developers Conference through June 11.
• European Central Bank decision on Thursday and press conference with President Christine Lagarde.
• Iran nuclear deal talks reconvene in Vienna Thursday.
• Group of Seven leaders’ summit starts in Cornwall, England Friday.

These are some of the main moves in markets:

Stocks

• The Stoxx Europe 600 was little changed as of 9:04 a.m. London time
• Futures on the S&P 500 were little changed
• Futures on the Nasdaq 100 were little changed
• Futures on the Dow Jones Industrial Average were little changed
• The MSCI Asia Pacific Index fell 0.4%
• The MSCI Emerging Markets Index fell 0.3%

Currencies

• The Bloomberg Dollar Spot Index fell 0.1%
• The euro was little changed at $1.2184
• The Japanese yen was little changed at 109.42 per dollar
• The offshore yuan rose 0.1% to 6.3915 per dollar
• The British pound rose 0.2% to $1.4183

Bonds

• The yield on 10-year Treasuries declined three basis points to 1.51%
• Germany’s 10-year yield declined one basis point to -0.24%
• Britain’s 10-year yield declined one basis point to 0.76%

Commodities

• Brent crude rose 0.6% to $73 a barrel
• Spot gold was little changed

— With assistance by Claire Ballentine, Vildana Hajric, Nancy Moran, and Andreea Papuc

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Stock Market Today: Dow, S&P Live Updates for Jun. 9, 2021 - Bloomberg
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