Global stocks, sterling rally on stimulus hopes (News: 12/07/16)

Today’s Press

  • U.S. stocks opened higher on Tuesday with the S&P 500 and Dow industrials trading in record territory. A jump in oil prices benefited energy companies, which were leading the winners in early trade. A stronger-than-expected second-quarter report from Alcoa Inc. also fostered optimism on Wall Street. The S&P 500 , which closed at a fresh record for the first time in nearly 14 months on Monday, was up 12 points, or 0.5%, at 2,149. The Dow Jones Industrial Average added 91 points, or 0.5%, to 18,316, trading above its closing record set in May 2015 and near its intraday record. The Nasdaq Composite advanced 31 points, or 0.6% trading above 5,000 for the first time this year.

  • European shares were on track for a fourth straight day of gains and the yen broke below its post-Brexit low on Tuesday as easing political tensions in Britain, stimulus hopes and a record high close for U.S. stocks boosted risk appetite.

  • The governor of the Bank of England has reluctantly agreed to release notes of private conversations in the run-up to the UK”s vote to leave the EU between him and George Osborne, chancellor, to a parliamentary select committee for scrutiny.

Next Trading Day’s Important Events

Forex Quotes:

  • USDJPY: 104.56
  • EURUSD: 1.1094

Indices:

  • S&P 500: 2,151.65
  • NASDAQ : 5,026.27

Source:: Global stocks, sterling rally on stimulus hopes (News: 12/07/16)

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