REUTERS: The S&P 500 eased from a record high on Thursday while the tech-heavy Nasdaq shed more than 1per cent as bond yields hit 14-month peak after the Federal Reserve pledged to tolerate inflation and keep monetary policy loose through 2023.
Opinions among the Fed's 18 current policymakers did shift somewhat, with four now expecting rates may need to rise next year and seven seeing a rate increase in 2023. Economic data was mixed on Thursday with one showing the number of American filing for jobless benefits unexpectedly rose last week. A separate report indicated the Philly Fed business index jumped more than expected to its highest level since 1973.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.