Wednesday painting a grim picture. Gains in precious metals suggest traders are nervous about the outlook for the global economy and seeking a hedge.
“Stock markets in general have been underpinned by expectations for further stimulus out of the U.S.,” said Candice Bangsund, portfolio manager of global asset allocation at Fiera Capital Corp. “The second-quarter earnings season has also lent some notable support and helped to counteract some of the fears about the latest resurgence in Covid cases.”
U.S. economic data was mixed, with payroll gains slowing sharply in July, suggesting the pickup in coronavirus cases is putting the brakes on the job market. Meanwhile, service industries expanded in July at the fastest pace since February 2019.Reserve Bank of India and Bank of England rate decisions due Thursday.July U.S. employment and jobs reports expected Friday.The S&P 500 Index advanced 0.7% as of 2:36 p.m. New York time.The MSCI Emerging Market Index advanced 1.2%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: News24 - 🏆 4. / 80 Read more »
MARKET WRAP: JSE gains for a third day as gold stocks rally on record metal priceGlobal market sentiment has been supported by ongoing discussions in the US Congress regrading a Covid-19 relief package
Source: BDliveSA - 🏆 12. / 63 Read more »
Gold climbs to record high as traders turn for safetyThe metal extends its run above the $2,000 mark on a weaker dollar and bets for more stimulus measures to revive pandemic-ravaged economy
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »
No silver bullet for virus, warns WHO chief, but don’t despairThe remarks come as some countries continue to record high numbers while others experience a resurgence
Source: SundayTimesZA - 🏆 47. / 51 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »