GLOBAL MARKETS-S&P 500 edges lower in volatile trade, while dollar drops to 2-week low

* U.S. stock index hit record highs at open, then pares
gains
* U.S. dollar dropped to two-week low

(Updates with early U.S. markets activity, changes byline,
dateline, previous LONDON)
By Caroline Valetkevitch
NEW YORK, Feb 10 (Reuters) - The S&P 500 was down slightly
in volatile trading while MSCI's gauge of stocks across the
globe was barely higher on Wednesday, pausing after recent
gains, while the dollar dropped to two-week lows.
Major U.S. stock indexes hit record highs at the opening
before losing gains.
Twitter Inc TWTR.N shares were up 7.8%, a day after the
company beat Wall Street estimates for quarterly sales and
profit and followed its social media peers to forecast a strong
start to 2021 as ad spending rebounds from a rock bottom.
Bets on more fiscal aid have powered Wall Street's main
indexes to a series of all-time peaks recently, with investors
moving into sectors such as energy, banks and industrials that
are poised to benefit from a recovering economy. President Joe Biden said on Tuesday he agreed with a
proposal by Democratic lawmakers that would send $1,400 stimulus
checks to Americans earning up to $75,000 and households making
up to $150,000. Earnings contributed to earlier optimism in equities
markets, with French bank Societe Generale among those beating
fourth-quarter profit expectations. "Although visibility isn't great into the future, the
analysts are extrapolating that into higher earnings throughout
this year than may be what folks had feared six months ago,"
said Eric Marshall, portfolio manager and head of research at
Hodges Capital Management in Dallas.
Executives from Robinhood, Melvin Capital and Citadel
Securities are expected to testify before a U.S. House of
Representatives panel at a Feb. 18 hearing exploring trading
turmoil in GameStop Corp GME.N and other stocks, according to
a Reuters report citing two sources familiar with the matter.
The Dow Jones Industrial Average .DJI rose 1.56 points, or
0%, to 31,377.39, the S&P 500 .SPX lost 5.69 points, or 0.15%,
to 3,905.54 and the Nasdaq Composite .IXIC dropped 56.23
points, or 0.4%, to 13,951.47.
The pan-European STOXX 600 index .STOXX lost 0.25% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.13%.
Bitcoin BTC=BTSP , meanwhile, consolidated recent gains on
Wednesday, trading 3.7% lower at $44,799. It hit a new high of
$48,216 on Tuesday following Tesla's TSLA.O disclosure of a
$1.5 billion investment in the virtual currency.
In the foreign exchange market, the dollar index =USD fell
0.13%, with the euro EUR= up 0.12% to $1.2131. The dollar was weighed down by U.S. data showing tepid
inflation.
Benchmark U.S. Treasury yields also tumbled, as the U.S.
data showed that inflation stayed benign in January,
disappointing investors betting that price pressures would
increase more.
The Labor Department said its consumer price index increased
0.3% last month after climbing a revised 0.2% in December.
Benchmark 10-year notes US10YT=RR last rose 4/32 in price
to yield 1.1431%, from 1.157% late on Tuesday.
Oil rose, extending its rally for a ninth day, its longest
winning streak in two years, supported by producer supply cuts
and hopes vaccine rollouts will drive a recovery in demand.
Brent crude LCOc1 was up 30 cents, or 0.5%, at $61.39
after touching a 13-month high of $61.61 earlier in the session.
U.S. crude CLc1 was up 22 cents, or 0.3%, to $58.57, having
touched $58.76, also a 13-month high. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Emerging markets http://tmsnrt.rs/2ihRugV
Global asset performance http://tmsnrt.rs/2yaDPgn
MSCI world stock index cruising at record highs https://tmsnrt.rs/3qaUqvu
World FX rates http://tmsnrt.rs/2egbfVh
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