Global stocks hovered at a record high on Friday after the European Central Bank cut interest rates for the first time in five years and traders waited on crucial U.S. monthly jobs data for clues about whether the Federal Reserve would soon follow.
Europe’s broad STOXX 600 share index, which traded flat in early trading on Friday, has gained 1.4 per cent this week and about 10 per cent year-to-date. Economists expect the world’s largest economy added 185,000 new jobs last a month, a relatively modest gain that traders will likely celebrate after data on Wednesday showed U.S. job openings fell to their lowest in more than three years in April.
Money market pricing implies traders see the Fed cutting rates from their 23-year high of 5.25-5.5 per cent by September, following a slew of similar moves across major economies. The benchmark 10-year U.S. Treasury yield, a benchmark for borrowing rates globally, was firm at 4.29 per cent. The two-year yield, which tracks interest rate expectations , was 2 basis points higher at 4.7421 per cent, after declining for six straight sessions until Thursday.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Premarket: Global shares see thin trading with major markets closed for holidayInvestors take a cautious stance ahead of key inflation data from the United States and Europe later this week
Source: globeandmail - 🏆 5. / 92 Read more »
Stock market today: Asian markets follow Wall Street higher ahead of key inflation updateHONG KONG (AP) — Asian stocks were mostly higher on Wednesday after a rally on Wall Street that took the Nasdaq composite index to a record high. A report...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Markets today: U.S. stock futures steady ahead of key price dataU.S. equity futures edged higher as investors awaited key data later this week that may cast light on the outlook for U.S. Federal Reserve policy.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Memorial Day surge: Bitcoin hits $70K as U.S. stock markets pauseWhile the U.S. Stock Market was closed on Memorial Day, the cryptocurrency market was thriving where BTC and ETH showed remarkable surges.
Source: CryptoAmb - 🏆 22. / 68 Read more »
S&P/TSX composite inches higher, U.S. stock markets rally to record highsTORONTO — Strength in technology and utility stocks helped Canada's main stock index inch higher Wednesday, while U.S. stock markets rallied to new record highs after a pair of reports on inflation and retail sales.
Source: SooToday - 🏆 8. / 85 Read more »
Energy and base metals help lift S&P/TSX composite Thursday, U.S. stock markets mixedTORONTO — Strength in energy and base metals helped Canada's main stock index post a small gain Thursday, while U.S. stock markets were mixed a day after reaching new records. The S&P/TSX composite index closed up 84.08 points at 22,229.10.
Source: SooToday - 🏆 8. / 85 Read more »