Global stocks march on; Treasury yields, dollar hit by weak consumer confidence | Malay Mail

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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 University of Michigan’s survey showed consumer confidence...

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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Stocks hit fresh records, capping bumper week | Malay MailNEW YORK, Aug 13 — Global stock markets hit new record highs today, capping another bumper week as investors seized on a dip in US inflation and more forecast-beating corporate earnings. US inflation numbers this week suggested rising price growth may be peaking, which would ease pressure on the...
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