Stocks rally amid bets on China revival

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Unexpected growth in US services sector data drives Wall Street higher

A woman holds an umbrella while passing the Nasdaq MarketSite in New York's Times Square. Picture: REUTERS

The Nasdaq set fresh closing highs, led by Amazon.com as its shares crossed $3,000 for the first time. Tesla jumped 13.5%, up 228% so far this year. The euro advanced 0.55% to $1.1310 and European shares jumped. The broad FTSEurofirst 300 index added 1.53% as stocks exposed to China — carmakers, industrials, energy firms and luxury goods makers — rose strongly. Banks also rallied.

Chinese blue chips jumped 5.7% on top of a 7% gain last week to their highest since June 2015. Even Japan’s Nikkei, which has lagged due to a soft domestic economy, rose 1.8%. A slew of upbeat US data, including a record rise in June payrolls last week, has powered the Nasdaq to fresh highs and lifted stock markets around the world on recovery hopes.

The benchmark 10-year yield was up 0.1 basis points to yield 0.6808%. German 10-year yields traded at -0.469%.

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:

 /  🏆 12. in US
 

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

United States United States Latest News, United States United States Headlines

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

Asian stocks hit four-month highs on cheap liquidity and fiscal stimulusMSCI’s broadest index of Asia-Pacific shares outside Japan rises to its highest since February
Source: BDliveSA - 🏆 12. / 63 Read more »