NEW YORK (Reuters) – brent crude oil prices rose and a gauge of global equities broke a three-week trading range on Thursday as investors induced recession betting on a quick recovery of the corona-virus.
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
The price of oil rose more than 4% on signs of an improving demand and a drawdown in U.S. crude oil stocks, while a rise in Facebook Inc. and Amazon.com Inc., the fresh records that lifted the Nasdaq within 5% of its all-time high.
U.S. Treasury yields were little changed and gold edged higher but the gains were limited as risk appetite improves.
The markets expect the economic recovery to the risk sooner rather than later, if that the slowing of faith as high as some, said Michael Arone, chief investment strategist at State Street Global Advisors in Boston, massachusetts.
“There is a view that as the economy opens up again, it is not, so far, a-resurgence-in-the-hvkz-CSPM, from Colonel valeriano rates, and that perhaps some of the “worst ever said” the data that we have seen, soon to be behind us,” Arone,.
MSCI display of stocks around the world gained 1.28% within 1 point, and 500, and after the performance of the benchmark and was unable to climb and it fits 495 the last three weeks.
The pan-European STOXX 600 index rose 0.98 percent, and closed just a three-week high, led by technology, chemical and energy sectors.
Gains in the energy, financial and industrial stocks to “signal” the economy has not recovered, as the economic data and corporate earnings, the snapshot, as you usually do, Arone said.
“I am looking forward to the price chart, because the price chart will tell us the approximate time of the recreation here, and how aggressive he can be,” he said.
On Wall Street, the Dow Jones Industrial Average 328.44 points, or 1.36% rose from 24,535.3. The S&P 500 gained 45.54 points, or 1.56%, to 2,968.48, and the Nasdaq Composite added 159.66 points, or 1.74%, to 9,344.76.
Two-thirds or 223 of the Fund managers interviewed, the count of the Bank of America, the last of the equity, profits, performance indicators, a bear market rally.
U. s. crude oil inventories fell by 5 million barrels in the week to may 15 ended, to 526.5 million barrels, data from the Energy Information Administration showed, far better that the analysts are increasing expectations in a Reuters poll for a 1.2 million barrel. [EIA/S]
U. s. crude oil rose by 2.75% to $32.84 per barrel, and Brent crude was at $35.30, up 1.88% on the day.
The euro extended gains on Monday, the German-French proposal for a 500-billion-euro common Fund, could Union that it will move Europe closer to a fiscal.
The eur rose 0.48% to $1.0973, and the dollar index fell 0.35%. The Japanese yen strengthened 0.16% against the usd, at 107.56 per dollar.
Editing by Bernadette Baum