![]() ![]() The dollar index fell 1.02%, with the euro up 1.19% to $0.9835. The euro and sterling gained strength following Hunt's announced policy announcement, causing the greenback to lose ground against a basket of major world currencies. The 30-year bond last fell 23/32 in price to yield 4.0214%, from 3.975% late on Friday. Long-dated Treasury yields turned higher late in a choppy session for the bond market, even as investor sentiment eased in the wake of the British policy about-face.īenchmark 10-year notes last fell 3/32 in price to yield 4.0166%, from 4.006% late on Friday. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.19% lower, while Japan's Nikkei (.N225) lost 1.16%. ![]() ![]() The pan-European STOXX 600 index (.STOXX) rose 1.83% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 2.09%.Įmerging market stocks rose 0.32%. Meanwhile, the easing yuan weighed on Asian markets. That reversal has "lifted some clouds, but it doesn't lift the political risk," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York, who added that the new government formed by British Prime Minister Liz Truss "has caused a lot of uncertainties." The Dow Jones Industrial Average (.DJI) rose 550.99 points, or 1.86%, to 30,185.82, the S&P 500 (.SPX) gained 94.88 points, or 2.65%, to 3,677.95 and the Nasdaq Composite (.IXIC) added 354.41 points, or 3.43%, to 10,675.80.Įuropean stocks closed sharply higher on the UK's financial policy reversal. Stocks were primed for a strong open after Britain's new finance minister Jeremy Hunt scrapped Prime Minister Liz Truss's proposed tax cuts and reined in her energy subsidies, while Bank of America Corp (BAC.N) posted consensus-beating third quarter results, having benefited from a spate of interest rate hikes from the Federal Reserve. "Now, investors are looking for green shoots of catalysts that can start to provide some improvement." "The catalysts that have triggered in the markets year-to-date are well-known," said Joseph Sroka, chief investment officer at NovaPoint in Atlanta. stock indexes rallied to end the session 1.9% to 3.4% higher while and the dollar lost ground against a basket of world currencies. Spot gold added 0.4% to $1,648.39 an ounce.NEW YORK, Oct 17 (Reuters) - Wall Street jumped to robust gains on Monday as solid earnings and a financial policy reversal in Britain fueled risk appetite and boosted the sterling and euro against the greenback.Īll three major U.S. Softness in the greenback gave a lift to gold prices. crude settled down 0.18% to close at $85.46 per barrel, while Brent settled at $91.62 per barrel, essentially flat on the day. The Japanese yen weakened 0.19% versus the greenback at 149.06 per dollar, while sterling was last trading at $1.135, up 1.61% on the day.Ĭrude prices oscillated as markets juggled signs of looming recession and China's continued loose monetary policy. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.19% lower, while Japan's Nikkei lost 1.16%. The pan-European STOXX 600 index rose 1.83% and MSCI's gauge of stocks across the globe gained 2.09%.Įmerging market stocks rose 0.32%. Įuropean stocks closed sharply higher on the UK's financial policy reversal. Stocks were primed for a strong open after Britain's new finance minister Jeremy Hunt scrapped Prime Minister Liz Truss's proposed tax cuts and reined in her energy subsidies, while Bank of America Corp posted consensus-beating third quarter results, having benefited from a spate of interest rate hikes from the Federal Reserve. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |