WASHINGTON, Jan 1 — Equities around the globe traded little changed on Thursday as oil prices fell and the US dollar dipped against most major currencies although it has had its best year since 2015 with a 6.7 per cent rise.
Analysts say the US economy has proven resilient in the face of pandemic-related challenges, and many expect the global economy will still expand at a well-above-trend pace. All three major US stock indexes scored monthly, quarterly and annual gains, notching their biggest three-year advance since 1999.
US stocks have powered the global rally as record-breaking earnings figures from Big Tech companies excited investors. This week the S&P 500 hit another record high. But both Brent and WTI are up more than 50 per cent in 2021, spurred by the global economic recovery and producer restraint.China’s factory activity unexpectedly accelerated in December, but only by a slim margin, an official survey showed, with analysts foreseeing more economic headwinds in the near term.
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