Stock Rally Stalls at Start of Data-Packed Week: Markets Wrap
- Fed’s favored inflation gauge is seen rising most in a year
- Goldman Sachs strategists see room for stock rally to broaden
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The stock market lost steam near record highs as traders braced for a barrage of economic data and remarks from Federal Reserve speakers that will help shape the outlook for interest rates.
Wall Street is also keeping a close eye on how the market will manage to absorb heavy Treasury and corporate sales amid month-end positioning. US yields rose after Monday’s auctions of two-year and five-year government notes. Meantime, blue-chip companies in the US have sold a record $172 billion of bonds in February as they race to seize on investor demand amid a drop in borrowing costs.