Business & Investment

World stocks put earnings on new highs, dollar flats

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London / Sydney — Wednesday’s global equities made record highs, but the dollar and Treasury while waiting for US employment data to provide clues to the pace of monetary tightening in the world’s largest economy Yields were sluggish.

Despite the resurgence of cases in Asian countries, including China, the rapid development of vaccines in developed markets has eased concerns about the COVID-19 pandemic with strong corporate interests.

It has helped ups and downs in equities, but inflationary pressures and rising beliefs in the US Federal Reserve Board will soon indicate their intention to cut back on the economy and continue to cause turmoil in the bond market in the medium term. There is a possibility.

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“Macro data is coming at a high level of growth, but the market is currently looking only at peak data. We want to know what the glide path will be in the next 12 months. These concerns are in the bond market. “It’s growing,” said Grace Peters, head of EMEA investment strategy at JP Morgan Private Bank.

“When it comes to the stock market, it’s more balanced because lower yields support the growth of equities, especially the stock market. At the same time, there is strong bottom-up evidence that life is good for the company. “

The broad-gauge MSCI World Index on the stock market tracked a nighttime rise in Asia, where early European trading rose 0.2% and the equivalent index, excluding Japan, last rose 1%.

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Across Europe, both the STOXX Europe 600 and the FTSE 100 rose about 0.5%. The latter is underpinned by the strong performance of house builder Taylor Winpay and insurance company Legal and General.

US equity futures showed a quiet opening on Wall Street, flat to 0.1%.

Nearly 90% of companies listed on the S & P 500 reported a positive surprise to their earnings in the second quarter, according to Tapas Strickland, an economist at the National Australia Bank (NAB).

Mark Hefere, Chief Investment Officer of UBS Global Wealth Management, said: Note.

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Investors expect volatility to increase in August as more companies report earnings and the market hears from the Federal Reserve Board in the coming weeks.

While all eyes are on the latest US non-farm payrolls last Friday before US central bankers gather in Jackson Hall to discuss policies, the market is also on Wednesday’s US ADP Employment Survey. It is set to get hints from.

Prior to the data, the US dollar was flat against a basket of currencies, but the benchmark Treasury yield rose 1 basis point to 1.182%.

In commodities, Brent futures rose 28 cents to $ 72.61 a barrel. US crude oil rose 7 cents to $ 70.61 a barrel.

Spot gold was up 0.2% to $ 1,814.2 an ounce.

(Additional report by Sujata Rao, edited by Richard Pullin, Sam Holmes, Barbara Lewis)

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    World stocks put earnings on new highs, dollar flats

    https://financialpost.com/pmn/business-pmn/world-shares-ride-earnings-to-fresh-high-dollar-flat World stocks put earnings on new highs, dollar flats

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