Stocks extend gains after sell-off amid positive data, Fed's rate signals
Updates prices throughout, adds analyst comment
By Chibuike Oguh and Huw Jones
NEW YORK/LONDON, Aug 9 (Reuters) -Global shares slightly extended gains on Friday, recovering further from their recent big sell-off and boosted by positive economic data, even as crude oil prices edged higher amid supply concerns from a possible widening of the Middle East conflict.
A trio of Federal Reserve policymakers indicated on Thursday that they were more confident that inflation is cooling enough to cut rates, and this - along with a bigger-than-expected fall in U.S. jobless claims data - helped to underpin the recovery.
On Wall Street, the three main indexes were advancing in choppy trading led by gains in technology, energy, healthcare, financials and real estate stocks.
The Dow Jones Industrial Average .DJI rose 0.11% to 39,489.37, the S&P 500 .SPX gained 0.31% to 5,335.80 and the Nasdaq Composite .IXIC gained 0.24% to 16,699.52.
The MSCI All Country stock index .MIWD00000PUS, was up 0.55% to 786.10 points, recovering much of the ground lost during the week.
"We've had some good news in terms of some good earnings reports and the hiring data yesterday was pretty solid as well," said Tiffany Wade, senior portfolio manager at Columbia Threadneedle Investments. "But after a pretty strong week relative to the last few weeks people are a little bit nervous to keep on a ton of risk going into the weekend and a fresh week," she added.
Oil prices LCOc1 were headed for weekly gains as fears of a widening Middle East conflict persisted, with Brent LCOc1 crude futures up 0.77% at $79.78 a barrel while U.S. West Texas Intermediate crude futures CLc1 added 1% to $76.98.
In Europe, the STOXX .STOXX index of 600 companies was up 0.57%,with the loss for the week all but erased. In a sign of calmer nerves, the VIX .VIX index, also known as Wall Street's 'fear gauge', tumbled nearly 10%, a far cry from its record one-day spike on Monday.
Divergent central bank interest rate moves, a repricing of recession probability in the United States, thinner liquidity in August accentuating volatility and Middle East tensions had all combined a week ago to trigger the sharp sell-off in stocks after their months-long winning streak.
Some analysts urged caution despite this week's strong recovery. "We are still in the month of August, so we can still have some volatility," said Marie de Leyssac, portfolio manager at Edmond de Rothschild Asset Management.
NIKKEI RECOVERS
Japan's Nikkei .N225 stocks benchmark closed 0.56% higher, erasing most of the losses since a 12.4% crash on Monday. It finished the week down nearly 2.5%. The yen JPY=EBS also weakened against the dollar, last trading at 146.61 per dollar.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS climbed 1.63%, more than reversing the drop from Thursday. For the week, it has reversed earlier losses down slightly down 0.12%.
The U.S. dollar index =USD, which measures the greenback against a basket of currencies including the yen and the euro, was off a one-week high against other major currencies. It fell 0.12% at 103.16, with the euro EUR= up 0.03% at $1.0915.FRX/
Bond yields have climbed this week with safe-havens in less demand, but began easing as confidence returned to markets. The yield on benchmark U.S. 10-year notes US10YT=RR fell 5.3 basis points to 3.944%.
Gold prices were a touch firmer, with spot gold XAU= added 0.26% to $2,433.11 an ounce. U.S. gold futures GCc1 gained 0.21% to $2,427.40 an ounce.
Asia stock markets https://tmsnrt.rs/2zpUAr4
Asia-Pacific valuations https://tmsnrt.rs/2Dr2BQA
VIX explosion, then mean reversion? https://tmsnrt.rs/3SEJUNi
Reporting Chibuike Oguh in New York and Huw Jones in London; Editing by Ana Nicolaci da Costa, Gareth Jones and Josie Kao
To read Reuters Markets and Finance news, click on https://www.reuters.com/finance/markets For the state of play of Asian stock markets please click on: 0#.INDEXA
الأصول ذات الصلة
آخر الأخبار
إخلاء المسؤولية: تتيح كيانات XM Group خدمة تنفيذية فقط والدخول إلى منصة تداولنا عبر الإنترنت، مما يسمح للشخص بمشاهدة و/أو استخدام المحتوى المتاح على موقع الويب أو عن طريقه، وهذا المحتوى لا يراد به التغيير أو التوسع عن ذلك. يخضع هذا الدخول والاستخدام دائماً لما يلي: (1) الشروط والأحكام؛ (2) تحذيرات المخاطر؛ (3) إخلاء المسؤولية الكامل. لذلك يُقدم هذا المحتوى على أنه ليس أكثر من معلومات عامة. تحديداً، يرجى الانتباه إلى أن المحتوى المتاح على منصة تداولنا عبر الإنترنت ليس طلباً أو عرضاً لدخول أي معاملات في الأسواق المالية. التداول في أي سوق مالي به مخاطرة عالية برأس مالك.
جميع المواد المنشورة على منصة تداولنا مخصصة للأغراض التعليمية/المعلوماتية فقط ولا تحتوي - ولا ينبغي اعتبار أنها تحتوي - على نصائح أو توصيات مالية أو ضريبية أو تجارية، أو سجلاً لأسعار تداولنا، أو عرضاً أو طلباً لأي معاملة في أي صكوك مالية أو عروض ترويجية مالية لا داعي لها.
أي محتوى تابع للغير بالإضافة إلى المحتوى الذي أعدته XM، مثل الآراء، والأخبار، والأبحاث، والتحليلات والأسعار وغيرها من المعلومات أو روابط مواقع تابعة للغير وواردة في هذا الموقع تُقدم لك "كما هي"، كتعليق عام على السوق ولا تعتبر نصيحة استثمارية. يجب ألا يُفسر أي محتوى على أنه بحث استثماري، وأن تلاحظ وتقبل أن المحتوى غير مُعدٍ وفقاً للمتطلبات القانونية المصممة لتعزيز استقلالية البحث الاستثماري، وبالتالي، فهو بمثابة تواصل تسويقي بموجب القوانين واللوائح ذات الصلة. فضلاً تأكد من أنك قد قرأت وفهمت الإخطار بالبحوث الاستثمارية غير المستقلة والتحذير من مخاطر المعلومات السابقة، والذي يمكنك الاطلاع عليه هنا.