The S&P 500 was set to open near a record high on Monday as focus shifted to the Federal Reserve's meeting this week, where the central bank is expected to maintain its accommodative stance on monetary policy.
Recent data has indicated that the U.S. economy is regaining momentum but not overheating, taming worries about inflation and sending the S&P 500 (.SPX) to an all-time high. While the Fed has reassured that any spike in inflation would be transitory, policymakers could begin discussing the tapering of bond buying at the Tuesday-Wednesday meeting. Most analysts, however, don't expect a decision before the central bank's annual Jackson Hole, Wyoming, conference in August. read more Any shift in the Fed's dovish rhetoric could upend equity markets. The benchmark has climbed 13% this year while the Dow (.DJI) and the Nasdaq (.IXIC) have risen 12.6% and 9.2%, respectively. "The market is looking for the Fed to not be dramatically alarmed about fears of inflation, or move too soon with tapering," said Thomas Hayes, chairman and managing member of Great Hill Capital LLC in New York. "We're kind of in this 'Goldilocks' situation where (economic) numbers keep coming in pretty good, liquidity is ample, the Fed is accommodative, and unless those things change, we shouldn't expect a big change in the stock market." At 08:24 a.m. EDT, Dow E-minis were down 8 points, or 0.02%, S&P 500 E-minis were up 3 points, or 0.07% and Nasdaq 100 E-minis were up 42.75 points, or 0.31%. Lordstown Motors Corp (RIDE.O) tumbled 14.6% after it said Chief Executive Steve Burns and Chief Financial Officer Julio Rodriguez have resigned, days after the electric-truck maker warned that it may not have enough cash to stay in business over the next year. read more Oil firms Chevron (CVX.N), Marathon Oil Corp (MRO.N), Schlumberger (SLB.N), Occidental Petroleum (OXY.N) and Marathon Petroleum Corp (MPC.N) rose between 0.7% and 1% as crude prices hit their highest levels in more than two years. United Airlines Holdings (UAL.O) and American Airlines Group (AAL.O) gained 0.4% and 0.7% respectively after Citigroup raised its price target on the stocks. Novavax (NVAX.O)rose 8.8% after its late-stage trial data showed its COVID-19 vaccine candidate is more than 90% effective against COVID-19 across a variety of variants of the virus. read more Our Standards: The Thomson Reuters Trust Principles.
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The Indian capital New Delhi will be under a strict lockdown for six days starting on Monday night, the city's Chief Minister Arvind Kejriwal said, adding the healthcare system was at a breaking point because of the worsening COVID-19 outbreak.
The city was also facing acute shortages of hospital beds, medical oxygen supplies and key medicines such as the anti-viral Remdesivir, Kejriwal said. A group aligned with the radical left-wing group Antifa sent a tweet Sunday in which it appeared to praise an alleged arson attempt at a law enforcement officer's home.
The group, Pacific Northwest Youth Liberation Front, included an article on how federal law enforcement agencies were investigating the incident, which law enforcement said might be linked to recent protests in Portland. According to Oregon Public Broadcasting, the Washington County Sheriff's Office has already claimed the incident was arson. "This is so cool," the group tweeted along with the article. When contacted by Fox News, Twitter did not immediately say whether the post violated its policies. ANTI-FASCIST GROUP SEEN AS PLAYING BIG ROLE IN PORTLAND UNREST: REPORT A law enforcement official reportedly said that there was a "concern in this case that the officer was surveilled and followed home." Sunday's tweet came after months of protests in cities like Portland, Ore., and Seattle, where some destroyed or defaced property. The PNW Youth Liberation Front describes itself as a "[d]ecentralized network of autonomous youth collectives." Apparently stating its goal, the group says: "Direct action towards total liberation." The group has also resisted the idea that protests should be peaceful. "To all the people on the streets who call themselves 'peaceful protesters'. I don’t know where you’ve been for the past 4+ years, but being peaceful doesn’t stop the police, how do I know this?" the account tweeted this summer. "Because people have been doing this for years before you hopped on the protest trend." CLICK HERE TO GET THE FOX NEWS APP The group wrote similar posts on its account. "We've stood in the streets, hands up, non violent, and time and time again brutalized, shot with chemical weapons, and arrested," PNW Youth Liberation Front added in another tweet. "There's a simple reason why you haven't experienced intense police brutality yet, it's called Public F-----g Relations. "The pigs are in a PR battle so they say there’s a difference from 'peaceful' and 'violent' protesters," the group added in another post. "When in fact what we are fighting is the ultimate form of violence, making any and all resistance self and community defense. -Fox News |