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Market Update: Wall Streets Struggles to Keep Momentum
US equities fluctuated between slight losses and gains on Tuesday, as investors bullish about the global economic recovery looked ahead to a slew of data releases in the US calendar for more clues on the path of inflation and growth. New US single-family homes dropped in April as prices surged amid a tight supply of houses, while a separate report showed US consumer confidence was virtually unchanged in May. PCE inflation, personal consumption, GDP, jobless claims and durable goods are due to be released this week. At the same time, investors digested the Fed’s narrative that a surge in inflation is transitory and that the central bank will continue to remain ultra-accommodative until the economy has further recovered. . [/s2If]
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