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 U.S. 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 1.10%, the following General progress in Europe and Asia. The index by about 8.5% for the year-to-date.
On Wall Street, the Dow Jones Industrial Average 267.63 points, or 1.05 per cent rose to 25,742.65, the S&P 500 gained 25.09 points, or 0.82%, to 3,080.82 and the Nasdaq Composite added 56.33 points, or 0.59% to 9,608.38.
The tech-heavy Nasdaq is now less than 3% of its pre-pandemic record highs. [.N]
Purchasing managers Index data for may breeding points to a fragile but encouraging recovery in the global production, 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] a further recording of the stimulus won, such as the China Central provided Bank.
Bond investors remained cautious that the global economy bog had a corner. The Benchmark 10-year U.S. Treasury notes last fell 6/32 in price to yield 0.6819%, of 0.662%, late on late on Monday.
“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 touched 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, said over the last four or five days,” CMC Markets senior analyst Michael Hewson.
Some of the U. s. protesters, upset about the recent death of an African-American man, George is on the Cover, is in police custody, set fire to a mall in Los Angeles overnight looted and stores in New York city. At least five U. s. police officers hit by gunfire in separate incidents.
Hopes for increasing demand from an economic recovery strengthened oil prices. U.S. crude oil recently 4.01% rose to $36.86 per barrel, and Brent crude was at $39.64, up 3.44% on the day.
Reporting by David Randall; editing by Bernadette Baum, Will Dunham and Jonathan Oatis