Economy

Stocks rally after Irma, S&P 500 ends at record

Stocks rally after Irma, S&P 500 ends at record”

The dollar was bid and safe haven currencies were offered, reportedly on relief that North Korea didn't conduct another missile test over the weekend (which had been widely feared on Friday).

The 10-year U.S. Treasury note last fell 17/32 in price to yield 2.1201 percent, up from 2.061 percent late on Friday. European and emerging-market equities also advanced, while gold, the yen and the Swiss franc retreated. But speculation that the country would mark the anniversary of its founding with another missile over the weekend didn't come to pass.

Financials may follow their United States peers higher after U.S. bond prices slipped Monday, sending yields higher.

The dollar was up 1.5 per cent against the Japanese yen, on pace for its best daily percentage gain in almost eight months.

Irma caused severe flooding in many Florida cities and left more than 6 million homes and businesses without power, but damage appeared to be less than expected. Still, nearly 7 million were without power and millions were displaced in what may go down as one of the worst storms in Florida's history.

Hurricanes have put markets on edge over recent weeks, as investors show signs of unease when it comes to assessing the impact of these natural disasters on certain markets, including insurance and airlines.

The pan-European STOXX 600 index jumped to a one-month peak as insurers made further headway and basic resources and financials joined in the rally.

MSCI's broadest index of Asia-Pacific shares outside Japan rose as much as 0.3 per cent to their highest in almost 10 years, drawing confidence from strong performances on Wall Street in the previous session.

- The MSCI Emerging Market Index increased 0.7 percent to the highest in three years.

The index of Indonesia's 45 most liquid stocks rose as much as 0.2 per cent.

The US Dollar climbed against the Japanese Yen, perceived by investors as a safe haven currency, after recording its largest weekly fall in two months.

- Russia's ruble posted the biggest advance in emerging markets, climbing 0.3 percent.

Eldorado Gold Corp slumped 4.4 percent to C$2.38 after the company said it was suspending its Greek mining investment, citing regulatory hurdles.

Japan's benchmark Nikkei 225 gained 1.0 percent to 19,741.42, as a weaker yen also helped boosted sentiments.



Like this

loading...

Latest


12 September 2017
Family of three die after falling into volcano crater near Naples
It is a dormant volcano, but still emits jets of steam with sulfurous fumes and is part of the Campi Flegrei volcanic area. It is not known if the three family members died instantly as a result of the extreme temperatures inside the volcano.

12 September 2017
Jean-Claude Van Damme Son Arrested In Roommate Knife Incident
He alleged that Nicholas was angry at him for opening the door to the police. They remarried in 1999, and she filed for divorce for a second time in 2015.

12 September 2017
CONFIRMED: Joanna Jedrzejczyk vs. Rose Namajunas Set For UFC 217
A women's strawweight title fight between Joanna Jedrzejczyk and Rose Namajunas is set to go down at UFC 217. Namajunas will fight with a belt on the line for the second time in her UFC career.

12 September 2017
Kodak Printomatic Instant Print Camera
Events become more fun, weekend get-togethers are enriched, and moments that once were forgotten on a smartphone are cherished forever.

12 September 2017
Qualcomm's takes a subtle shot at Apple, gets its facts wrong
In a blog post , the chip maker made a list of smartphone firsts that took place on Android phones thanks to Qualcomm technology. As you might know, Apple and manufacturers who build the iPhone and iPad are in the middle of a legal battle against Qualcomm .

12 September 2017
Thousands without power as Irma shifts west
We could also see sustained winds between 25-35mph with gusts around 50mph. "It's been strong enough to knock us over". Nathan Deal today, September 10, expanded the emergency declaration that now includes all 159 counties in Georgia.

12 September 2017
S. Korean Activists Clash With Police Over Additional THAAD Deployment
Vassily Nebenzia said Russian Federation wants a reference to the need for political dialogue based on recent initiatives. Meanwhile, South Korea warned its citizens in China to avoid "friction" and "needless arguments" with Chinese people.

12 September 2017
Westpac Banking Corp Has $16.23 Million Holdings in Colgate-Palmolive Company (CL)
Blue Chip Partners Inc. raised its stake in Colgate-Palmolive by 0.4% in the 1st quarter. 124 are owned by Federated Invsts Pa. The company reported $0.72 earnings per share for the quarter, meeting analysts' consensus estimates of $0.72.

12 September 2017
Indian cricketer Suresh Raina's SUV suffers tyre burst
This was established by DSP Rajesh Kumar Singh who also confirmed that Raina was behind the wheels at the time of the incident. He last donned the Indian colours in January this year, playing for the T20I team during the England's tour of India.

12 September 2017
Huawei Mate 10 Front Panel Leaked
It will be powered by a 10nm HiSilicon Kirin 970 chipset, so it is expected to deliver performance equivalent to Snapdragon's 835. Coming to the authenticity part of this leak, it is hard to say if the device shown in the image is indeed the Mate 10.