Markets extend their rally over Pfizer’s full FDA approval - Tuesday Review, August 24

Markets extend their rally over Pfizer’s full FDA approval - Tuesday Review, August 24

German economic data showed the GDP rose more than expected in Q2

The US

Wall Street ended higher, as the FDA’s full approval of a COVID-19 vaccine and the absence of negative catalysts kept risk appetite alive ahead of the Jackson Hole Symposium. USA30 rose 0.09%, and USA500 gained 0.15%. TECH100 added 0.52%.

Crude oil went up 1.1% at $66.39 a barrel.

Gold rose 0.2% to $1,803.15 per ounce.

Asia and Australia

Stocks were up, boosted by the FDA’s approval of the COVID-19 vaccine, which is expected to increase US vaccination rates and assuage concerns over the virus’s impact on global economic recovery.

Japan225 rose 1.12%.

HongKong45 was up 0.28%.

Down under, Australia200 traded 0.28% higher.

Europe

Markets closed in the green, helped by stronger than expected German growth and the full US approval of the Pfizer-BioNTech COVID-19 vaccine.

Germany30 traded 0.2% higher. France40 and UK100 each added 0.1%.

Brent oil rose 1.2% to $69.19 per barrel.

EUR/USD lost 0.1% trading at 1.1737.

Sources: investing.com, reuters.com

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