Global stocks reached new highs boosted by US passage of infrastructure bill - Wednesday Review, August 11

Global stocks reached new highs boosted by US passage of infrastructure bill - Wednesday Review, August 11

Stocks hit records as Fed tapering concerns ease

The US

Wall Street closed at new highs after data showed that the consumer price increases slowed in July, easing concerns that the Federal Reserve will signal a scaling back of bond purchases. USA30 rose 0.62%, and USA500 gained 0.25%, both reaching new record highs. TECH100 dropped 0.16%.

Crude oil settled at $69.25 per barrel after it gained 1.41%.

Gold settled up 1.2% at $1,753.30 per ounce.

The Dollar Index was down 0.13% at 92.933.

Asia and Australia

Gains remained modest as traders continued to assess the impact of rising COVID-19 cases and central bank asset tapering on the global economy.

Japan225 gained 0.56%.

HongKong45 was down 0.39%.

Down under, Australia200 rose 0.62%, with the Westpac consumer sentiment index dropping 4.4% in August compared to the 1.5% growth the month before.

Europe

Germany30 gained 0.35%, hitting a new all-time high. France40 rose 0.55%. UK100 gained 0.7%, marking its fourth straight consecutive rise.

Brent was up 1.15% to $71.44 per barrel.

GBP/USD rose 0.15% to 1.3858.

EUR/USD traded at 1.1737 after it gained 0.16%.

Sources: investing.com, reuters.com

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