Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexEconomic EventsPress releases

Global stocks, dollar rise with renewed risk appetite, oil rebounds

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/07/2017 | 10:40pm CET
An investor looks at an electronic board showing stock information at a brokerage house in Shanghai

A gauge of global stocks gained on Thursday, boosted by Wall Street, and the U.S. dollar touched a two-week high as risk appetite returned and investors braced for developments with U.S. policy and for a key U.S. jobs report due on Friday.

Longer-dated U.S. Treasury yields rose as increased risk appetite diminished the attractiveness of safe-haven U.S. government debt. Oil prices rebounded a day after hitting two-week lows.

A U.S. tax bill moving swiftly through Congress has influenced markets in the past month, with investors hoping that deep cuts to corporate tax rates will help further drive the record-setting run in equities.

The White House said on Thursday it was focusing on getting the lowest corporate tax rate possible in the legislation being considered on Capitol Hill.

“The focus is still on the tax bill," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. "As the details are getting hammered out, I think investors are still buying into the news that it is coming and it will help profitability and business activity.”

Investors also kept an eye on U.S. negotiations over a spending package, amid some concern about a government shutdown.

The Dow Jones Industrial Average <.DJI> rose 70.57 points, or 0.29 percent, to 24,211.48, the S&P 500 <.SPX> gained 7.71 points, or 0.29 percent, to 2,636.98 and the Nasdaq Composite <.IXIC> added 36.47 points, or 0.54 percent, to 6,812.84.

The pan-European FTSEurofirst 300 index <.FTEU3> lost 0.01 percent.

Technology stocks gained in the United States <.SPLRCT> and Europe <.SX8P> after the high-flying sector had retreated in recent days.

MSCI's gauge of stocks across the globe <.MIWD00000PUS> gained 0.22 percent after declining the past two sessions.

The dollar rose to a two-week high against a basket of currencies, recovering losses against the yen, on stronger risk appetite across markets.

The dollar index <.DXY> rose 0.18 percent to $93.78, with the euro <EUR=> down 0.2 percent to $1.1771.

"Tomorrow's jobs report will play a significant factor in keeping the (dollar) rally alive and heightening hopes for an early 2018 rate hike," said Lennon Sweeting, chief market strategist at XE in Toronto.

Bitcoin <BTC=BTSP> rocketed to a lifetime high just shy of $16,000 after climbing some 60 percent in just over a week, intensifying the debate about whether the cryptocurrency is in a bubble about to burst.

Investors favored selling longer-dated debt as the U.S. Treasury yield curve had compressed to its tightest in more than a decade earlier this week, while short-term Treasury yields were little changed.

Benchmark 10-year notes <US10YT=RR> last fell 9/32 in price to yield 2.3599 percent, from 2.33 percent late on Wednesday.

Oil prices climbed due to a threatened strike in Nigeria and as traders cover shorts after sharp losses the previous day brought on by an unexpectedly large rise in U.S. stocks of refined fuels.

Brent futures <LCOc1> rose 98 cents, or 1.6 percent, to settle at $62.20 a barrel, while U.S. West Texas Intermediate crude <CLc1> gained 73 cents, or 1.3 percent, to settle at $56.69.

Copper <CMCU3> rose 0.14 percent to $6,559.00 a tonne, but had yet to retrace steep declines from Tuesday's session.

(Additional reporting by Gertrude Chavez-Dreyfuss and Dion Rabouin in New York; Editing by Nick Zieminski and James Dalgleish)

By Lewis Krauskopf

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
02:19p CCA CROATIAN COMPETITION AGENCY : dismisses the notification of proposed media concentration Slovenia Broadband and Nova TV
02:14p IFA IRISH FARMERS ASSOCIATION : Cattle prices remain firm with very strong demand and supply
02:14p EUROPEAN PARLIAMENT : Motion for a resolution on the attack made on the EU system of aid and the principles underpinning the CAP by the United States in the context of the dispute on Spanish olives - B8-2017-0661
02:09p DERRY CITY & STRABANE DISTRICT COUNCIL : Guildhall to light up ‘green’ to raise awarenes...
02:09p EESC EUROPEAN ECONOMIC AND SOCIAL COMMITTEE : What place for culture in Europe's future? European teenagers to tell Brussels
02:04p Small Canadian miners in pole position for electric vehicle battery boon
01:59p Bankers call on Bank of England to act fast on EU branches
01:50p Futures inch up, bitcoin grabs investor interest
01:34p RICE UNIVERSITY : A dab of water aids carbon capture
01:26p Futures little changed as oil prices edge lower
Latest news "Economy & Forex"
Advertisement