Stimulus hopes lift Wall Street, financial stocks lead gains

REUTERS: Wall Street's main indexes edged higher on rising expectations of monetary stimulus from global central banks to boost growth, while a drop in technology and healthcare stocks kept a check on gains.

Federal Reserve Chairman Jerome Powell said late last week the central bank would"act as appropriate" to sustain economic expansion, a phrase that financial markets have read as signs of an interest rate cut. Escalating Sino-U.S trade tensions and the inversion of a key part of the U.S. yield curve drove the sell-off in August. However, Monday's gains pushed the S&P 500 to just 1.5per cent below its record high.

Boeing Co fell 1.17per cent after it suspended load testing of its new widebody 777X aircraft over the weekend as media reports said a cargo door failed in a ground stress test.

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Asia stocks make cautious gains as weak data boosts stimulus hopesTOKYO (REUTERS) - Asian stocks eked out modest gains on Monday (Sept 9), amid a cautious market mood as investors pinned expectations on likely stimulus to support growth in the world's major economies, which showed further signs of struggle.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »