US Stocks Headed For First Two Day Slide in a Month

U.S. stocks headed for the first two-day slide of the month, while Treasuries advanced as the rally in riskier assets that took equities to records eased. The pound weakened after a report showed U.K. retail sales fell in January.

The S&P 500 Index pared a weekly advance that saw it close at records, with commodity producers slipping as oil and metal prices slumped. The 10-year Treasury note yield slid to 2.42 percent. French bonds retreated and the euro weakened as political risks weighed on sentiment. The pound headed for the lowest level in a month. U.S. markets are closed Monday for a holiday.

Stocks are pausing a rally as investors go back and forth assessing the prospects for President Donald Trump’s economic plans and the timing of U.S. interest-rate increases. In Congressional testimony this week, Federal Reserve Chair Janet Yellen warned against waiting too long to tighten policy. Concerns about France’s future in the euro region in the event of a Marie Le Pen presidency are roiling the country’s assets.

Bloomberg

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MS

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.