Oil prices increase pushed Wall Street higher - Wednesday Review, September 15

Oil prices increase pushed Wall Street higher - Wednesday Review, September 15

Investors are still hopeful regarding a global economic recovery

The US

Wall Street closed higher as rising crude prices boosted energy shares. Moreover, data suggested inflation has crested, and the economic recovery remains robust. USA30 rose 0.68%, and USA500 added 0.85%. TECH100 went up 0.82%.

Crude oil traded at $71.19 a barrel after it went up 1%.

Gold fell 0.2% to $1,802.70 per ounce.

Asia and Australia

Stocks were down as investors focused on weaker-than-expected Chinese data. They were also looking for the impact of lower than forecasted US inflation figures on the Fed’s timeline to begin asset tapering.

HongKong45 fell 0.79%.

Japan225 lost 0.82%.

Down under, Australia200 traded 0.55% lower.

Europe

Markets edged lower, as weak Chinese data suggested that the country’s economy hit a speed bump in August because of COVID-19 outbreaks and supply disruption. Also, disappointing sales from H&M raised concerns about the global economic recovery. Germany30, France40, and UK100 each dropped 0.1%.

Brent oil traded 1% higher at $74.31 per barrel.

EUR/USD traded at 1.1817 after it gained 0.1%.

Sources: investing.com, reuters.com

The information presented herein is prepared by CAPEX.com and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.