Connect with us


Stock market: Global stocks mostly up as lockdowns and inflation loom




Shares rose broadly in morning trading on Wall Street on Monday as investors head for a shortened vacation week with assurances about the Federal Reserve’s leadership.

The S&P 500 was up 0.9% at 10:19 a.m. EST. The Dow Jones Industrial Average rose 274 points, or 0.8%, to 35,876 and the Nasdaq rose 0.9%.

Tech companies led the gains. Apple rose 3.1% and chipmaker Nvidia rose 3.5%.

Retailers and other businesses that rely on consumer spending also posted solid gains. The spread increased 2.5% and Best Buy increased 4%.

Retailers are on the cusp of the peak holiday shopping season, which traditionally begins just after the Thanksgiving holiday.

Real estate and health care stocks have lagged the market as a whole.

Markets were reassured after US President Joe Biden announced he would appoint Jerome Powell to a second four-year term as head of the Federal Reserve, a vote of confidence in Powell’s handling of central bank policies during the sudden disruptions caused by the coronavirus pandemic.

The central bank is starting to cut back on bond purchases that have helped keep interest rates low in order to support the economy and markets.

The decision to ease this support comes as rising inflation weighs on the economic recovery. This forces investors to keep a close watch on the Fed to see if the process stays smooth or if the Fed will need to change its strategy in light of inflation pressures.

Bond yields have increased. The 10-year Treasury yield rose to 1.59% from 1.54% on Friday night. Banks, which rely on higher yields to charge more lucrative interest on loans, have gained ground. Bank of America rose 2.4%.

The dollar also strengthened against other currencies. The price of gold, a haven for anxious investors, fell 1.9%.

Markets in Europe and Asia were mixed, as a resurgence of coronavirus outbreaks prompted some countries to turn to stricter precautions to curb a new wave of the pandemic.

Investors face a relatively light week of economic updates. The National Association of Realtors reported surprisingly good sales for previously occupied homes in October on Monday.

The Commerce Department will release October data for new home sales on Wednesday, along with third quarter gross domestic product data.

Markets in the United States will be closed Thursday for the Thanksgiving holiday. They will also close early Friday.




The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos


to request, modification Contact us at Here or [email protected]