NEW YORK, Aug 14 — Global stock markets hit new record highs yesterday, boosted by forecast-beating corporate earnings, but the dollar and Treasury yields fell after data showed US consumer confidence plummeted in early August.
“The renewed plunge suggests the latest wave of virus cases driven by the Delta variant could be a bigger drag on the economy than we had thought,” said Andrew Hunter, an economist at Capital Economics. The S&P 500 and Dow Jones Industrial Average closed at record highs. Walt Disney was a star performer, climbing 1.6 per cent after its earnings topped market forecasts.
The pan-European STOXX 600 index rose 0.2 per cent to a record high of 476.16, for the tenth straight session. The index has now matched its best winning streak since December 2006.“We feel a bit more cautious headed into autumn because of uncertainty on the health front, the Chinese regulatory front and the monetary policy front,” said Paul O’Connor, head of multi-asset at Janus Henderson.US gold futures settled up 1.5 per cent at US$1,778.20.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.56 per cent, and was 0.8 per cent lower for the week.
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