Stocks advance, dollar gains as tech shines through macro clouds | Malay Mail

On Wall Street, the Dow Jones Industrial Average rose 114.67 points, or 0.44 per cent, to end at 26,428.32, the S&P 500 gained 24.9 points, or 0.77 per cent, to 3,271.12 and the Nasdaq Composite added 157.46 points, or 1.49 per cent, to 10,745.28. — Reuters pic

Energy stocks fell sharply after Chevron Corp reported an US$8.3 billion loss on asset writedowns and ExxonMobil Corp recorded a second consecutive quarterly loss. MSCI’s world equity index, which tracks shares in 49 nations, was unchanged at 551.89, weighed down by European stocks, which posted their first monthly decline since a market sell-off in March on growing recovery doubts.

US government negotiations over another coronavirus relief bill were not yet on a path toward a deal, US House of Representatives Speaker Nancy Pelosi said yesterday. She spoke just before the expiration of a federal unemployment benefit that has been an essential lifeline for millions of Americans.Global funds recommended cutting equity holdings in July to the lowest in four years and suggested keeping bond allocations unchanged from June, a Reuters poll showed.

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