Investors are still hopeful regarding a global economic recovery
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.
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