Global Shares Rise Higher Due to Investors Later Major Central Bank Meeting

thecekodok

 Global equity markets rose on Monday as investors awaited the outcome of meetings by several major world central banks including the Federal Reserve (Fed), the Australian central bank (RBA) and the central bank of England (BOE) on their respective monetary policies.


The Wall Street stock market continued to soar with energy stocks and Tesla managed to overcome after a decline in the technology sector slightly lower, closing trading with a mix.


European stocks also followed a similar trend following a very encouraging earnings report.


Shares of Harley-Davison Inc also soared after the European Union eliminated counter-tariffs on U.S. products including whiskey, power boats and the company’s motorcycles.


The European zone banking sector, meanwhile, continued to hit record highs for more than two years and performed at its best today due to a surge in bond yields based on expectations that the European central bank will raise rates next year.


The Dow Jones Industrial Average rose 94.28 points, or 0.26% to 35,913.84 after surpassing 36,000 points for the first time in daily trading.


The S&P 500 also added 8.29 points or 0.18% to 4,613.67 and the Nasdaq Composite added 97.53 points or 0.63% to 15,595.92.



Japan’s Nikkei gained 2.61% in early trade after the Liberal Democratic Party led by Prime Minister Fumio Kishida won an unexpected victory that has given hope to political stability in the future.


The dollar showed lower declines after posting its biggest daily gain in more than four months on Friday as hedge funds companies expected risks facing the Fed policy meeting this week.


The dollar index which measures the strength of the US dollar fell 0.326% against the Euro which rose 0.39% to $ 1.1605.

Investors await the Fed’s decision for a $ 120 billion monthly bond -buying plan to support the economy and comments on interest rates and measures to maintain inflation stability.


U.S. manufacturing activity survey data on Monday was seen to slow in October as reports by raw materials companies showed the supply chain would remain restrained in economic activity in the fourth quarter of this year.


Oil prices remained high on Monday on strong demand expectations and major producing countries were believed not to be affected by previous losses due to oil reserves by China as the world's largest oil consumer.


US crude was 0.6% higher at $ 84.05 a barrel and Brent closed at $ 84.71, up 1.2%.


Gold increased 0.6% to $ 1,792.63 per ounce while Bitcoin fell 1.03% to $ 60,726.53.

Tags