Stocks edge up as Biden spending plan boosts US outlook | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 86%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

SINGAPORE, April 1 — Stocks crept higher today following their weakest quarter in a year, while higher Treasury yields supported the dollar, as investors parsed the details of a US$2 trillion (RM8.29 trillion) US government spending plan and hoped for strong jobs data later in the week. MSCI’s...

Japan’s Nikkei rose 1.3 per cent as a survey showed big manufacturers’ mood bouncing back to pre-pandemic levels. — Reuters picSINGAPORE, April 1 — Stocks crept higher today following their weakest quarter in a year, while higher Treasury yields supported the dollar, as investors parsed the details of a US$2 trillion US government spending plan and hoped for strong jobs data later in the week.

On the heels of a US$1.9 trillion pandemic relief package, President Joe Biden yesterday outlined a broad plan to re-make the world’s biggest economy including spending on roads, railways, broadband, clean energy and semiconductor manufacture. It is not clear if the plan could clear Congress, since it has had an icy reception from Republicans, however, the breadth of the proposed spending did help draw investors back to technology shares overnight, and the Nasdaq rose 1.5 per cent.

This has come with growing concern about hiccups in the vaccine rollout and a fresh wave of coronavirus infections, particularly in Europe where yesterday France ordered a third national lockdown. Investors are jittery about the fallout from the fire sale of holdings by stricken asset manager Archegos Capital, which has walloped the stocks involved and shares in some of Archegos’ brokers, Credit Suisse and Nomura.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US stocks end at records as weak jobs data boost stimulus hopes | Malay MailNEW YORK, May 8 — Wall Street indices ended at fresh records yesterday, while the dollar tumbled after disappointing US jobs data fuelled confidence of continued fiscal and monetary support as the economy recovers from Covid-19. Economists had projected the economy would add a million positions...
Source: malaymail - 🏆 1. / 86 Read more »