By Stephen Quulp
New York (Reuters) – Wall Street’s stock on Monday followed its European counterparts after mixed economic figures and aiming to end the Ukraine war ahead of the talks between US President Donald Trump and Russian President Vladimir Putin.
Over the weekend, the US attacks against Yemen’s Hauthi movement threatened to increase the tension rich in oil, leading to high prices on the possibility of supply.
All three major American stock index were in the positive field, with weakness among the “luxurious 7” group of AI-related speed stock, keeping in mind the benefits of technology-thunder Nasdaq.
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Trump said he would talk to Putin on Tuesday to discuss a potential Russia-Ukraine ceasefire proposal, which may reduce some geopolitical uncertainty.
Oliver Persache, senior vice president of Wealthspier Advisors in New York, said, “A huge sales have taken place, so some kind of rebound, expected and I think we think is part of what we are looking.” “And the possibility of Russia and Ukraine is developing a ceasefire that can lead to a more permanent peace, it is positive for markets, not only in the US but also globally.”
Weak-to-preferred US retail sales data was at least partially responsible for cheap gasoline; A solid rebound in online receipts and the main remedy showed the underlying consumer power in an inverted surprise.
“We were relatively weak compared to relatively (retail sales) for February, indicating low inflation pressures that would potentially offset the impact of tariffs,” Parach said.
American Federal Reserve and other central banks are expected to call for policy meetings this week, but until the effects of Trump’s multi-front tariff war can be further evaluated, it is expected to be largely expected to be placed on the edge.
Dow Jones Industrial Average increased 475.61 points or 1.15%to 41,964.18, S&P 500 increased to 57.39 points, or 1.01%, 5,696.10 and Nasdaq Composite 147.94 points or 0.82%, 17,900.33.
European shares extended their rally as Germany’s debt reform plans helped promote confidence that Europe’s largest economy would increase spending and kick-start growth.
Investors were also focused on the result of Ukraine-Russian conflict fire fighting negotiations, which could translate low energy costs for Europe.
European shares have submitted to their global counterparts so far this year.
The PAN-European Stoxx 600 index rose 0.79%, while Europe’s broad Ftseurofire 300 index increased 18.02 points or 0.83%.
MSCI’s gauge gauge grew 9.40 points or 1.12%to 845.54 worldwide.
Emerging market shares rose 12.97 points or 1.16%to 1,132.58. MSCI’s broad index of Asia-Pacific shares outside Japan increased by 1.26%, 589.02, while Nikkei of Japan rose 343.42 points or 0.93%to 37,396.52.
The US Treasury Yield curve got flattened amid mixed retail sales data, while low-dated yields grew on concern that the US economy would soften while Fed keeps its restrictive policy rate stable.
The yield on benchmark US 10-year-old notes increased from 4.308% to 0.6 base points to 4.314% on Friday. The yield of 30 -year bond was from 4.615% to 1 base digit 4.6045% on Friday.
The 2 -year note yield, which usually moves steps with expectations of interest rate for the Federal Reserve, increased to 4.015% to 4.059% on Friday from 4.015% to 4.059%.
The uncertainties arising from Trump’s trade policies weakened the greenback by hovering the dollar near a five -month low, with domestic drivers as other currencies including euros.
The dollar index, which measures greenback against a basket of currencies including yen and euro, fell 0.35% to 103.37 with the Euro, increased by 0.4%.
Against the Japanese Yen, the dollar grew 0.31%.
Mexican Peso strengthened the $ 0.04% vs. at 19.935.
Canadian dollar strengthened 0.6% versus greenback to C $ 1.43 per dollar.
Crude oil prices were supported by the supply concerns arising out of American fasting to continue their attacks that target the Iran-based Hauthis in Yemen, while the demand side of the coin was supported by encouraging economic data from China.
The US crude rose 0.60% to $ 67.58 per barrel, while Brent settled at $ 71.07 per barrel, 0.69% a day.
Gold obtained land, hovering around the level of $ 3,000 for the first time last week, as investors focused on this week’s decision from the Federal Reserve.
Spot gold rose 0.49% to $ 2,998.75 per ounce. The US Gold Futures rose 0.23% to $ 3,001.50 an ounce.
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