NEW YORK (Reuters) – world stock markets hit their highest levels since February and oil prices jumped on Tuesday as signs of a global economic recovery of the corona-virus pandemic will offset worries about the worst unrest in the United States in decades.
A FILE PHOTO of the German stock index DAX graph is shown, on the stock exchange in Frankfurt am main, Germany, 5. May, up to the year 2020. REUTERS/Staff
To move, in spite of these gains, the reluctant investors, away from the perceived safety of government bonds edge lower, but remained near record highs.
“In some ways, it is remarkable that the market continues in this positive mood,” Elwin de Groot, head of macro strategy at Rabobank. “Despite the rising protests in the U. s. and the situation in Hong Kong at the moment, the market is pushing and see room for optimism.”
MSCI display of stocks around the world gained 0.72%, the following General progress in Europe and Asia. The index by about 8.5% for the year-to-date.
In morning trading on Wall Street, the Dow Jones Industrial Average 142.61 points, or 0.56% of increased to 25,617.63, and the S&P 500 gained 10.38 points, or 0.34% to 3,066.11, and the Nasdaq Composite added 7.15 points, or 0.07% to 9,559.20.
The tech-heavy Nasdaq index is now only 3% of its pre-pandemic record highs. [.N]
The may purchasing managers ‘ Index for the data points to a fragile but encouraging recovery in the global production, raising hopes that the worst is over, for a while, the reports that Germany was considering an economic stimulus program to boost Auto sales, lifted European shares.
Japan’s Nikkei rose 1.2 percent to the highest level since the end of February, and the markets in Seoul, Taipei, Hong Kong and China [.SS] also gained as the China’s Central Bank, it is provided that a further recording of the stimulus.
Bond investors remained cautious that the global economy bog had a corner. The Benchmark 10-year notes, the burden fell 4/32 in price to yield 0.6738%, of 0.662% late on Tuesday.
“That’s the optimistic read for the risk can only exist if measures, such as jobs and employment, month-to-month,” said Alan Ruskin, chief international strategist at Deutsche Bank.
Early setbacks would be a very bad sign, but not expected, that in the period immediately after the end of the block have.”
The dollar was at multi-month lows against most major currencies after a 5% drop for its main index, since January. [FRX/]
“The protests are part of the reason for the sell-off in the US dollar over the last four or five days,” said CMC Markets senior analyst Michael Hewson.
Some of the U. s. protesters, upset about the recent death-of-the-wikiquote, African, American, and George on the Cover, while in police custody, had set fire to a shopping center in Los Angeles, night, looted the stores in New York, New York, and at least five of the U. s., the police officers had been hit by gunfire in separate incidents.
Hopes for increasing demand from an economic recovery strengthened oil prices. U.S. crude oil recently 1.35% rose to $35.92 / bbl and Brent crude was at $38.70, up 0.99% on the day.
Reporting by David Randall; editing by Bernadette Baum