Currency trader watch computer monitors near the screen showing the Korea Composite Stock Price Index at the foreign exchange dealing room in Seoul, South Korea, Thursday, July 30, 2020. Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy.
Lower interest rates and investor optimism about a possible coronavirus vaccine have helped global markets recover most of this year’s losses. But analysts say it might be too early to bet the recovery will persist, given the rising infection numbers in the United States, Brazil and other countries. In Europe, Frankfurt’s DAX retreated 2.4% to 12,511 after the GDP figures came in below expectations. Economists note that the second quarter was the economic low point and recent data has shown a relatively strong bounce back since then. Still, the second quarter drop was the sharpest on record for Germany, Europe’s largest economy, and suggests the eurozone figures due Friday could also be worse than predicted.
In Asia, the Shanghai Composite Index lost 0.2% to 3,286.82 and the Nikkei 225 in Tokyo gave up 0.3% to 22,339.23. Also Thursday, Japan reported retail sales rose by a better-than-forecast 13.1% in June over the previous month.
AP and other fear mongers led to widespread shutdowns in an effort to hurt the economy. Still going on.
Wall Street is not the economy!!!!!
Um, and Trump's insinuation that he wants to postpone the election.
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