Stock is finished week higher; Wall street in the highest record
Global stocks rose in waved trading on Friday, on the track for weekly profits, driven by positive sentiment on Wall Street after the decision of the main central bank.
Federal Reserve trimmed US interest rates with a quarter of a percentage of points on Wednesday, the first easing since December, while Norway and Canada also cut interest rates.
On Wall Street, the three indexes are closed in the highest record. The average Dow Jones industry rose 0.37% to 46,315.27, S&P 500 advanced 0.49% to 6,664.36, and Nasdaq composite tightened 0.72% to 22,631.48. All three also reached the highest record the day before.
European shares have finished down 0.16%, and for this week down 0.13%.
Nikkei Japan fell 0.57% after the Bank of Japan decided to start selling risk assets. MSCI shares gauges worldwide reached the highest record of the new 982.29, adding almost 1% for this week.
Investors bet that central bank interest rates will increase further stocks.
“The market for the past few weeks has been focused and rely on Fed and Fed’s decisions, and there is enough in the decision to make everyone a little disappointed even though it is basically satisfied,” said Michael Farr, Chief Executive of the Farr Investment Advisory Company, Miller & Washington in Washington.
The Fed stopped ratification of market expectations for a series of clear interest rates, emphasizing an approach that depends on the meeting-to-meet and depends on the data. Nada Fed, along with various views in the US central bank, were disappointed some investors, who hoped that the stock market would be driven by a quick shift to lower rates, the analysts said.
“The market has done it very well and now the market is looking for the next driver or the next news,” Farr said. “I think when we might enter the revenue season in October, the reports will be more important than before because we need to see and The Fed needs to see whether the tariff does make their paths the underline.”
The results on the US 10-year benchmark recorded 2.5 basis points to 4.129%. The 2 -year note, which usually moves in line with interest rate expectations for The Fed, rose 0.6 basis points to 3.574%.
“Short -term momentum is clearly higher and we play the market up because that is what is said to be short -term momentum to you,” said Bill Strazzullo, partner and head of the market strategy at Bell Curve Trading in Boston.
“But I think this is far more complicated now because The Fed clearly has chosen to make mistakes on the side of the weaker labor market so it talks about more interest rates.”
Following their first call in three months, US President Donald Trump said he and Chinese President Xi Jinping made progress in the Tiktok agreement and would meet face to face in six weeks in South Korea to discuss trade, drugs and the Russian War in Ukraine.
The temporary expenditure bill that will prevent the closure of the October 1 government failed in the US senate on Friday. The bill has been approved by the House of Representatives.
The US dollar index rose for the third successive session, up 0.33% to 97.67, but it was still determined to make one week in a row from losses.
The dollar strengthened 0.4% to 0.795 against Swiss francs, but dropped 0.03% to 147.97 against Japanese yen.
Euro dropped 0.35% against the dollar to $ 1,1745.
British pounds dropped 0.64% to $ 1,3467.
The Bank of England maintains the interest rates detained on Thursday, but slow down the speed at which it dismantled government bonds purchased in the previous crisis.
The price of oil remains lower because of the concern of traders about fuel demand beyond the typical drive of US interest rates.
Brent Crude Futures fell 1.1% to settle at $ 66.68 per barrel, while the West Texas Intermediate Futures (CLC1) lost 1.4%, to $ 62.68.
Gold rose 1.04% to $ 3,681.79, scoring fifth profit in a row.
Source: Reuters
