Shares scale record peak on upbeat results, dollar eases | Malay Mail

Investors are focused on whether Federal Reserve Chairman Jerome Powell will hint at shifting the Fed’s inflation target to an average when he addresses the US central bank’s policy framework review at the Jackson Hole symposium today. — Reuters pic

Salesforce shares soared 26.0 per cent, their biggest single-day gain since the day the company went public in 2004. Salesforce is slated to join the blue-chip Dow Jones Industrial Average index on August 31. The likelihood of a Covid-19 vaccine’s being introduced in early 2021 combined with very low interest rates and an outlook that rates stay low for longer are driving equities higher, said Sam Stovall, chief investment strategist at CFRA in New York.

Europe’s broad FTSEurofirst 300 index closed up 0.80 per cent, while on Wall Street the Dow Jones Industrial Average rose 0.3 per cent, the S&P 500 gained 1.02 per cent, and the Nasdaq Composite added 1.73 per cent.

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