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 / ForexCryptocurrenciesEconomic EventsPress releases

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 | 10:41pm CEST
A man is reflected in an electronic stock quotation board outside a brokerage in Tokyo

NEW YORK (Reuters) - 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

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.41% 24987.47 Delayed Quote.1.50%
NASDAQ 100 -0.06% 7251.4076 Delayed Quote.13.43%
NASDAQ COMP. 0.01% 7747.025 Delayed Quote.12.21%
S&P 500 -0.20% 2773.87 Real-time Quote.3.96%
US DOLLAR INDEX 0.07% 94.86 End-of-day quote.3.27%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
02:48aOil prices dip on expectations of rising OPEC, Russian supplies
RE
02:36aStocks extend slide, yen up as Sino-U.S. trade dispute escalates
RE
02:36aNew Research Report on Industrial Cyber Security Market Analysis, Market Size, Regional Outlook, Competitive Strategies and Forecasts, 2018 To 2022, Focusing on Top Key Vendors
AQ
02:36aAsian stocks extend slide, yen up as Sino-U.S. trade dispute escalates
RE
02:35aTrump Readies More Tariffs for China--Update
DJ
02:29aDonald Trump Readies New Tariffs for China
DJ
02:14aBrazil, India corporate debt most vulnerable to rate hikes - McKinsey
RE
02:09aTrump threatens to hit China with new tariffs on $200 billion in goods
RE
02:06aDonald Trump Readies New Tariffs for China
DJ
02:00aTransformational Leadership and Ford Taylor head to Melbourne Australia to share much more than the ‘what’ of leadership
SE
Latest news "Economy & Forex"
Advertisement