Stock Market Today: Dow, S&P Live Updates for May. 18, 2021
Asian stocks look poised for a muted open as virus cases in the region pick up and concerns about the economic outlook weighed on their U.S. peers. The dollar weakened.
Futures were little changed in Japan, Australia and Hong Kong. Technology and communication services stocks led the benchmark S&P 500 lower, while energy shares rose. Apple Inc. and Microsoft Corp. weighed on the tech-heavy Nasdaq 100. Benchmark Treasuries retreated and the dollar dropped for a third consecutive day against its peers.
Oil advanced to a two-year high as rising optimism around a demand recovery in regions such as the U.S. offset Covid-19 flare-ups in parts of Asia.
Investors this week will parse the minutes from the Federal Open Market Committee’s latest meeting for any discussion about accelerating price pressures, and hints of a timeline for reducing asset purchases.