S&P 500 and Nasdaq Reach Record Highs
European Shares Rise on Esing Us-China Trade Tension
Dollar Holds Near Lowest Levels in more than three years
Oil Pries Gain, Gold Slips
By Chibuike OGUH and Elizabeth HowCroft
New York/Paris, June 27 (Reuters) – Global Shares Reached a record high on Friday, Helped by Market Over Signs of Signs of Progress in Us -China Trade Talks, Whilele The Dollar Hellar Hellar Hellar Hellar Hellar Hellar Hellar Helse to Its Lowest Levels in more than three years.
The Benchmark S & P 500 Index and Nasdaq Hit All-Time Highs, Lifted Partly By Gains In Megacap Growth Stocks Including Nvidia and Amazon.
The S & P 500 Index and Nasdaq are headed for a weekly gain and are up about 5% this year owrall, Following a Volatille First Half of the Year, Dominated by Us President Donald Trump 2, which sent stocks plunging.
The Pan-European Stoxx 600 Index was up 0.66% on the day, set for a weekly gain.
The MSci World Equity Index Touched a Record High and was set for a weekly gain of 3.2%. London’s Ftse 100 rose 0.35%. Asian Shares Hit their Highest in more than three years in early trading.
“It’s a Continuation of this monster ralyy since early April,” said james st. Aubin, Chief Investment Officer at Ocean Park Asset Management in Santa Monica, California. “It’s been quite an improbable comeback and it continues, assuming that the tariff controversy is no longer a major isesue in the psyche of the market.”
Investors Saw a Trade Agreement Between the United States and China on how to how to expert rare earth shopments to the united states as a positive sign, amid employees to end the Tariff War BetWeen the World Two biggest economies.
Trump has set July 9 as the deadline for the european union and other counts to reach a deal to reduce tarifs.
Traders Took Confidence Too from a Ceasefire Between Iran and Israel and Markets Stepped Up Bets for Us Rate Cuts AMID The Possibility of Trump Announcing a new, more dovish federal work Expiration of Jerome Powell’s Term Next Year.
Data Showed Us Consumer Spending Unexpectedly Fell by 0.1% in May For the Second Time This Year, While Monthly Inflation Maintened A Moderate Pace of Increase.
“We’re starting to see earnings estimates for the next 12 months on the Rise Again after Taking a Little Bit of a Dip and That’s What the Market is Buying Into,” St. Aubin added.
The dollar remained on the backfoot, hovering near its lowest level in 3-1/2 years against the euro and sterling.
The dollar weakened 0.16% to 0.799 against the swiss franc but was up 0.18% to 144.63 Against the japanese yen. The Euro was at $ 1.1708, Getting a lift after data showed french consumer prices rose more than expected in June.
The dollar index was down 0.1% on the day at 97.269, HOLDING NEAR Its lowest in more than three years. The dollar is having its west start to a year since the era of free-Floating currencies began in the early 1970s.
Traders have stepped up their bets on us rate cuts, and are now pricing in 64 Basis points (BPS) of Easing this year Versus 46 BPS Expected on Friday.
The yield on Benchmark US 10-Year Notes Rose 1.2 Basis Points to 4.265%.
German 30-Year Government Bonds Yields WERE ON TRACK For their biggest weekly increase in nearly four months after risk this week on expectations of Increased Borrowing by Germany”s Government.
Oil prices mean but we set for their steepest weekly Decline Since March 2023, as the Absense of Significant Supply Disrupption from the Iran-Israel Conflick Saw Any Risk Premium Evaporte.
Brent Crude Futures Rose 0.66% to $ 68.18 a Barrel us west texas intermediate crude was up by 1% to $ 65.91. Spot Gold Fell 1.72% to $ 3,270.50 an Once.
(Reporting by Chibuike Oguh in New York and Elizabeth HowCroft in Paris; Additional reporting by dhara ranasinghe; Editing by Kim Coghill and Emelia Sithole-Matarise)
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