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.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

Wall Street snaps five-day up streak as caution rises before tech earnings, Fed | Malay MailNEW YORK, July 28 ― US stocks fell yesterday, ending a five-day winning streak in the three major indexes, as investors were cautious before results from top tech and internet names and today's Federal Reserve announcement. The Nasdaq led the day's declines, registering its biggest daily...
Source: malaymail - 🏆 1. / 86 Read more »

US dollar, stocks dip as Fed keeps taper timing close to chest | Malay MailNEW YORK, July 29 ― US stocks and the dollar slipped yesterday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track. The Fed said after its latest policy meeting ended...
Source: malaymail - 🏆 1. / 86 Read more »