Stocks Fluctuate After Weak Consumer Confidence: Markets Wrap

Following 1 of its champion days of the year, the S&P 500 was small changed. The output connected 10-year Treasuries declined 1 ground constituent to 4.32%. The dollar halted a four-day advance.

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US user assurance fell successful March to the lowest successful 4 years. The Conference Board’s gauge of assurance decreased 7.2 points to 92.9. The median estimation successful a Bloomberg survey of economists called for a speechmaking of 94.

The main strategist astatine UBS Investment Bank said the “visibly tiring” US user is acceptable to further unit banal prices.

“If you said to idiosyncratic 3 months backmost that the US system is going to dilatory down, you would person got laughed retired of the room,” Bhanu Baweja said successful an interrogation from London. “Now each of a abrupt the deficiency of migration and the deficiency of incremental fiscal emotion is manifesting successful the data.”

Commodity trading advisers — which instrumentality their cues from the marketplace absorption alternatively than cardinal factors - person continued to trim their equity exposure.

They sold a full of $100 cardinal worthy of stocks successful conscionable 4 weeks, and they are improbable to crook into assertive buyers unless stocks’ terms enactment becomes supportive, according to UBS strategists led by Nicolas Le Roux.

JPMorgan Chase & Co.’s Ilan Benhamou says it’s clip to intermission the rally-fading attack to US stocks that took clasp successful caller weeks, arsenic emerging clarity connected tariffs alleviates immoderate cardinal risks.

“I deliberation present mightiness beryllium the clip to power gears and frost sell-the-rally,” Benhamou, successful the bank’s equity derivatives income team, wrote successful a enactment to clients connected Monday. “What markets despised the astir wasn’t the information that tariffs were coming, but much the information that disorderly tariffs were coming.”

Some of the main moves successful markets**:

Stocks

• The S&P 500 was small changed arsenic of 10:02 a.m. New York time

• The Nasdaq 100 was small changed

• The Dow Jones Industrial Average fell 0.1%

• The Stoxx Europe 600 roseate 0.7%

• The MSCI World Index roseate 0.2%

Currencies

• The Bloomberg Dollar Spot Index fell 0.2%

• The euro roseate 0.2% to $1.0818

• The British lb roseate 0.2% to $1.2948

• The Japanese yen roseate 0.7% to 149.71 per dollar