NEW YORK, Nov 3 ― World shares reached new records yesterday, lifted by rising US and European stocks, while the latest batch of earnings reports bolstered the dollar as investors await the Federal Reserve's plans to taper its massive stimulus. All three major US stock indexes hit intraday record...
NEW YORK, Nov 3 ― World shares reached new records yesterday, lifted by rising US and European stocks, while the latest batch of earnings reports bolstered the dollar as investors await the Federal Reserve's plans to taper its massive stimulus.The STOXX 600 in Europe also posted a record close on strong corporate results as France's CAC 40 index hit its highest level since 2000.
“Most times, markets are happiest when they get predictability, when they get what they expect, and I think the expectation is that they are going to taper,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. Asian equities and bonds were mixed as Chinese property developers worried about contagion from China Evergrande Group's debt crisis. A debt exchange from one of the country's top homebuilders triggered a flurry of credit warnings.
The US dollar index, which tracks the greenback against a basket of six currencies, rose 0.181 per cent even as the market has fully priced in a Fed taper announcement.US Treasury yields drifted as the market awaited the Fed's announcement.
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