Global stocks gain amid tech boost and lower rate hike odds
Global stock markets saw a slight rise supported by a decline in the likelihood of a US interest rate hike and stable oil prices below $90 per barrel, amid focus on developments in the Iran conflict. Recent US economic data came in weaker than expected, boosting expectations that the Federal Reserve may keep interest rates unchanged at the upcoming meeting, with forecasts for tightening policy reduced to 65%. Gains from AI companies boosted technology stocks, with the MSCI World Index rising by 0.10%, the European Stoxx 600 up by 0.11%, and the US S&P 500 increased by 0.17%. On the monetary front, the US dollar index rose to 100.01 points, supported by geopolitical concerns and tensions between Washington and Tehran, while the dollar weakened against the yen. In Asian markets, the Japanese Nikkei jumped by 3.78%, the Australian central bank warned of inflation pressures, and gold prices fell by 0.74%.
Notice: This Is an AI-Generated Summary
Comments (0)