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

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam