Global stocks boosted by bright earnings, Fed outlook | Malay Mail

LONDON, July 29 — World equity markets climbed today as the Covid recovery brightened on upbeat corporate earnings and the US Federal Reserve’s latest economic outlook, dealers said.

Trading in New York got off to a solid start too, with the Dow up by 0.6 per cent in initial exchanges. The news came one day after US drugmaker Pfizer lifted its annual revenue and profit projections on surging demand for its rival Covid-19 vaccine. The US central bank said the pandemic recovery was progressing well but it was still too early to take away ultra-loose policies that have helped nurse the economy back to health.

The US central bank has said it will maintain its massive bond-buying and record low interest rate scheme for as long as it takes to tame unemployment and keep inflation running hot for an extended period.

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