News Highlights: Top Global Markets News of the Day

Stocks End Lower Amid Decline in Tech Shares

Tech stocks and smaller companies gave up early gains as the S&P and Nasdaq ended lower amid more testimony from Jerome Powell and Janet Yellen.

Powell Says Rise in Bond Yields Reflects Optimism About Economy

Federal Reserve Chairman Jerome Powell says he's not concerned about the recent increase in long-term bond yields, calling it "an orderly process."

Fed's Williams Upbeat on Outlook, Offers No Clues on Rate Rise Timing

"I don't know when we will take a policy action because it will be driven by what happens in the economy," New York Fed President John Williams said.

Ship Stuck in Suez Canal Heightens Pressure on Global Supply Chain

The blockage of the Suez Canal by a grounded container ship will likely add delays and extra costs to an already pressured logistics industry, say executives, punctuating the tightness of the world's supply lines.

U.S. Durable-Goods Orders Drop for First Time Since Last Spring

Orders for long-lasting manufactured goods fell 1.1% in February as U.S. factories faced supply-chain challenges.

U.S. Oil Inventories Rise Unexpectedly in Latest Week

U.S. inventories of crude oil rose last week even as refinery activity increased sharply, government data showed. Crude-oil stockpiles increased by 1.9 million barrels, contrary to analysts' forecasts for a small decline.

Hot U.S. Economy, Supply Disruptions Pressure World's Factories

As resurgent economies and a burst in demand for consumer goods heap pressure on strained supply chains, a series of acute disruptions-including this week's blockage of the Suez Canal-are set to worsen shortages and further push up prices.

Canadian Housing Boom Raises Concern, With Homes Selling Far Above Prices Asked

Some Canadian homes are selling for near double their asking price, causing the country's pandemic price run-up to lead G-7 countries and spawning worries about real estate's outsize role in economy.

Don't Buy the Wrong Volkswagen

If you find two almost identical Volkswagens and one costs 25% less than the other, it should be obvious that you are better off buying the cheaper one. Investors seem to be forgetting the same logic applies to the stock market.

Leap in Gas Prices Puts $3 a Gallon in Sight

The prospect of summer drivers crowding U.S. highways is powering steep gains in the price of gasoline, a sign of economic recovery and a boon for the pandemic-ravaged energy industry.

  (END) Dow Jones Newswires
  03-24-21 1915ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

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