2/2 © Reuters. A man wearing a face mask against the backdrop of the coronavirus pandemic (COVID-19) walks past a screen showing the Shanghai Composite index, Nikkei index and Dow Jones Industrial Average in front of a brokerage house in Tokyo, Japan, February 14, 2022. REUTERS / Kim
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By Carolyn Cohn and Stella Kiu
LONDON / BEIJING (Reuters) – Global stocks focused on their first weekly eight-week profit on Friday in a more optimistic outlook, as the dollar hit a one-month low after the Federal Reserve’s minutes suggested it could halt a rapid rise. interest later this year.
Optimistic forecasts for US earnings for the night from department store operator Macy’s Inc (NYSE 🙂 and discount chains Dollar General Corp (NYSE 🙂 and Dollar Tree (NASDAQ 🙂 increased shares.
The Fed’s minutes of its May meeting, released Wednesday, confirmed two more increases of 50 basis points each in June and July, but politicians also offered the potential for a break later in the year.
“Everything leaked from the FOMC (Federal Open Market Committee) protocols,” said Giles Coglan, chief currency analyst at HYCM.
“Investors were relieved that there was no hint of 75 basis points.”
Markets will focus on the April PCE core price index for the United States, which should be expected later on Friday to further indicate whether inflation is hot, Coglan added.
MSCI’s global stock index rose 0.38%. It was aiming for 3.2% growth during the week and almost 6% recovery from the 18-month lows set two weeks ago.
were equal after the rise of 1.61%, the rise of 1.99% and the jump of 2.68% on Thursday.
European stocks reached a 10-day high and rose 0.18%. decreased by 0.23%, above the three-week highs of the previous day.
Shares of Hong Kong rose 2.7% after better-than-expected first-quarter revenue growth from Alibaba (NYSE 🙂 and Baidu (NASDAQ :). Asian stocks have also taken advantage of hopes of stabilizing Sino-US ties and more incentives from the Chinese government.
The United States will not block China from developing its economy, but wants it to abide by international rules, Secretary of State Anthony Blinken said Thursday in remarks that some investors interpreted as positive for bilateral ties.
advanced by 0.7%, Chinese blue chips rose 0.2% and the Heavy Resources Index in Australia rose 1.1%.
Fluctuations in sentiment brought the dollar to one-month lows against the currency index, down 3.2% from 20-year highs earlier this month. The euro reached a one-month high and rose 0.11%.
Oil prices have remained close to a two-month high, on their way to their biggest weekly jump of 1-1 / 2 months, backed by the prospect of an EU ban on Russian oil and the upcoming summer driving season in the United States.
rose 0.08% to $ 114.20 a barrel. Brent rose 0.28% to $ 117.73 a barrel. [O/R]
The yield of the benchmark fell to 2.7468%. It hit a three-year high of 3.2030% earlier this month on fears that the Fed’s rapid rise could undermine long-term growth.
The two-year yield, which rose with traders’ expectations of higher interest rates on Fed funds, fell to 2.4678% compared to a closing of 2.4888%.
“Overall, pronounced decompression of stress,” ING analysts said in a note.
German 10-year bond yields fell to 0.982%.
rose 0.43% to $ 1857.79 an ounce. [GOL/]
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