ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • MSME Summit
  • Trending News
    • Viral News
    • Travel
    • People
    • Entertainment
    • Sports
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • New Virus in China 2022: Langya ALERT! No vaccine, no treatment!
  • Policybazaar system vulnerabilities exposed customers' personal details, says this report
  • Government removes cap on airfares with effect from 31 August
  • Samsung Galaxy Z Fold 4, Galaxy Z Flip 4, Watch 5 series, Buds 2 Pro revealed - price, India availability, specs and more
  • Maruti Suzuki Alto K10 2022 bookings open; Check token amount and how to book online
Read in App
Business News » World News

Stocks rise on trade talk optimism; rate outlook hits dollar

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

An index of world stocks rose on Monday, adding to Friday`s strong gains, on optimism about the outcome of trade talks between Washington and Beijing.

Growing bets the Federal Reserve will halt its multi-year rate-hike cycle sent the dollar lower across the board, while rising equity markets and support from OPEC production cuts helped lift oil prices.

MSCI`s world equity index <.miwd00000pus>, which tracks shares in 47 countries, rose 0.88 percent, its highest level since Dec. 19.

The resumption of U.S.-China trade talks helped eased concerns On Wall Street about the fallout from an extended trade war between the world`s two largest economies. Technology and consumer discretionary shares led gains.

U.S. officials are meeting their counterparts in Beijing this week for the first face-to-face talks since U.S. President Donald Trump and Chinese President Xi Jinping agreed in December to a 90-day truce in a trade war that has roiled global markets.

U.S. Commerce Secretary Wilbur Ross predicted on Monday that Beijing and Washington could reach a trade deal that "we can live with."

"The main thing is the administration`s implied progress on talks with China. That`s something that the market sees as very important," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.

The Dow Jones Industrial Average <.dji> rose 98.19 points, or 0.42 percent, to close at 23,531.35, the S&P 500 <.spx> gained 17.75 points, or 0.70 percent, to finish at 2,549.69 and the Nasdaq Composite <.ixic> added 84.61 points, or 1.26 percent, to end at 6,823.47.

The gains extended Friday`s rise following robust U.S. employment data and a message from the Federal Reserve that it would be patient and flexible in policy decisions this year.

On Friday, Fed Chairman Jerome Powell told the American Economic Association that the U.S. central bank is not on a preset path of interest rate hikes and that it will be sensitive to the downside risks markets are pricing in.

European shares edged lower on Monday amid lingering worries about the euro zone economy and Brexit. The pan-European STOXX 600 <.stoxx> finished down 0.15 percent.

In currency markets, the dollar index <.dxy>, which tracks the greenback versus the euro, yen, sterling and three other currencies, was down 0.49 percent at 95.709 amid the diminished expectations for further U.S. rate hikes.

"This is just the re-pricing of U.S. rate hikes going forward. That has been the story for a couple of weeks," said John Doyle, director of markets at Tempus Inc in Washington.

Interest rate futures traders are now pricing in a chance of a small rate cut this year, while the Fed has indicated that two rate hikes are likely.

Gold rose and palladium hit a record high as the weaker dollar spurred demand for the metals from holders of other currencies. Spot gold was up 0.3 percent at $1,288.7 per ounce.

U.S. Treasury prices fell on Monday, extending losses from Friday, as investors evaluated the likelihood of further Federal Reserve rate hikes this year and as the United States and China resumed trade talks.

Benchmark 10-year notes fell 6/32 in price to yield 2.680 percent, up from 2.659 percent on Friday.

Oil prices edged higher on Monday, rebounding further from 1-1/2-year lows reached in December, on support from OPEC production cuts and steadying equities markets.

Brent crude futures rose 27 cents to settle at $57.33 a barrel, a 0.47 percent gain. U.S. West Texas Intermediate (WTI) crude futures rose 56 cents to settle at $48.52 a barrel, a 1.17 percent gain.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Tue, Jan 08, 2019
03:15 am
Reuters
RELATED NEWS
Surge in credit demand, falling liquidity may lead to credit tightening: Report Surge in credit demand, falling liquidity may lead to credit tightening: Report
Government releases Rs 1.16 lakh crore of tax devolution to states Government releases Rs 1.16 lakh crore of tax devolution to states
Asian shares slip ahead of crucial US inflation data Asian shares slip ahead of crucial US inflation data
Profit of public sector banks rises 9% to Rs 15,306 crore in April-June Profit of public sector banks rises 9% to Rs 15,306 crore in April-June
India's forex reserves jump 60x since 1990s, surge 335 times since Independence | Check this data  India's forex reserves jump 60x since 1990s, surge 335 times since Independence | Check this data

LATEST NEWS

Zomato targets breakeven by Q2 FY24, lowers investment guidance to USD 320 mn

Samsung Galaxy Z Fold 4, Galaxy Z Flip 4, Watch 5 series, Buds 2 Pro launched- price, India availability, specs and more

Elon Musk sells Tesla stock worth $6.9 billion as possibility of forced Twitter deal rises

Q1 results FY2023: Tata Consumer, Prestige Estates, Zydus Lifesciences, Pidilite declare results - highlights

SLRC Assam direct recruitment admit card Class 3, 4 released: Check direct link and exam date

Jet Freight Logistics announces expansion plans; eyes US market

Trident result impact on share price: Scrip slumps over 12% intraday - Know details here

Raksha Bandhan 2022 correct date, best time; Rakhi Shubh Muhurat in India - Know inauspicious Bhadra, what to avoid as per Hindu calendar

Orissa Bengal Carrier Quarterly Results: Check Q1FY23 PAT and other details

Indian Flag 75th Independence Day: Har Ghar Tiranga campaign - Interesting facts about Tricolor

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV