News Formal

Business Maverick: S&P 500 Climbs to Within 2% of Its Record High: Markets Wrap

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 84%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The S&P 500 Index headed for a fourth straight advance amid encouraging news on the vaccine front and speculation U.S. lawmakers are making progress on an aid package.

Wednesday painting a grim picture. Gains in precious metals suggest traders are nervous about the outlook for the global economy and seeking a hedge.

“Stock markets in general have been underpinned by expectations for further stimulus out of the U.S.,” said Candice Bangsund, portfolio manager of global asset allocation at Fiera Capital Corp. “The second-quarter earnings season has also lent some notable support and helped to counteract some of the fears about the latest resurgence in Covid cases.”

U.S. economic data was mixed, with payroll gains slowing sharply in July, suggesting the pickup in coronavirus cases is putting the brakes on the job market. Meanwhile, service industries expanded in July at the fastest pace since February 2019.Reserve Bank of India and Bank of England rate decisions due Thursday.July U.S. employment and jobs reports expected Friday.The S&P 500 Index advanced 0.7% as of 2:36 p.m. New York time.The MSCI Emerging Market Index advanced 1.2%.

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:

 /  🏆 3. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

MARKET WRAP: JSE gains for a third day as gold stocks rally on record metal priceGlobal market sentiment has been supported by ongoing discussions in the US Congress regrading a Covid-19 relief package
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Spot Gold Breaks Through $2,000 With Haven Seekers Piling InSpot gold surged to a record $2,000 an ounce as investors continue to seek a haven amid growing economic and geopolitical risks.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: The Rich Still Want to Buy Their Ferraris: Chris HughesCovid-19 has affected the production and delivery of luxury cars, but not demand from the wealthy to acquire them, as analysts have noted. The financial impact of the virus on Ferrari NV’s performance is, for now, looking like only one quarter of lost earnings. Management has handled the crisis well.
Source: dailymaverick - 🏆 3. / 84 Read more »