On the heels of a bumper US jobs report on Friday, March data showed services activity hit a record high. China’s service sector has also gathered steam with the sharpest increase in sales in three months.— Reuters picLONDON, April 7 — World stocks hit record highs yesterday, supported by strong economic data from China and the United States, while currency and bond markets paused for breath after a month of rapid gains in the dollar and Treasury yields.
“We recommend continuing to position for the reflation trade as the economic recovery gathers pace — data released Friday showed US nonfarm payrolls surged by 916,000 in March, the biggest gain since August. “ “Bonds have settled down now,” said Omkar Joshi, portfolio manager at Opal Capital Management in Sydney, after a hard and fast selloff. “I think markets can keep powering on from here.”
“What needs to be tested is how the Fed reinforces and reassures on its flexible average inflation target policy,” said Vishnu Varathan, head economist at Mizuho Bank in Singapore.
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Europe stocks ease from record highs as tobacco firms weigh | Malay MailBRUSSELS, April 20 — European shares pulled back today after hitting record highs a day earlier, as tobacco companies weighed on UK stocks and many regional indexes edged off pre-pandemic highs. British American Tobacco, Imperial Brands and Swedish Match fell between 2.5 per cent and 6 per cent...
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Pandemic fears send stocks, oil, yields lower | Malay MailNEW YORK, April 21 ― A gauge of stock prices across the world fell yesterday and oil prices also slipped as concern lingered over rising global Covid-19 cases and their effect on the global economic rebound. The dollar index ticked up after touching its lowest level since March 3 and Treasury...
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Tech stocks push S&P 500 to record close, buoy Nasdaq | Malay MailNEW YORK, April 14 — The S&P 500 closed at another record high yesterday and the Nasdaq composite index jumped, as investors shook off concerns about the halt in Johnson & Johnson’s Covid-19 vaccine rollout and strong US inflation. The drugmaker’s shares hit a one-month low before...
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US stocks jump amid signs of vaccine economic bounce | Malay MailNEW YORK, April 5 — Wall Street stocks jumped early today on optimism about the US economic recovery as the employment outlook improves amid an accelerating vaccination campaign. Markets were closed Friday following government data showing the US economy regained 916,000 jobs in March, while...
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US stocks retreat from records to open heavy earnings week | Malay MailNEW YORK, April 19 — Wall Street stocks were lower early today to open a heavy week of earnings that includes reports from major technology giants, consumer products companies and airlines. Both the Dow and S&P 500 pulled back from Friday’s records as investors mull whether the market has...
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