Friday, 13 May 2016

Stocks mixed, Fed expected to delay rate hike

Stocks were mixed on Thursday.

The S&P 500 was little changed, the STOXX Europe 600 fell 0.5 percent and the Nikkei 225 rose 0.4 percent.

US crude oil rose 1 percent while the yield on the US 10-year Treasury note rose to 1.758 percent from 1.737 percent on Wednesday.

“Investors don’t have a reason to buy,” said Randy Warren, chief investment officer at Warren Financial.

Jim Paulsen, chief investment strategist at Wells Capital Management, added that while he does not expect a big downturn, “any information suggesting the consumer is fading would increase anxieties quite a bit”.

Indeed, economists apparently think that the Federal Reserve will be hesitant to raise interest rates. A recent Reuters poll showed that economists think that the Fed will likely wait until September before raising interest rates again.

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