Connect with us

Business

Stocks hit new highs as volatility wanes and dollar gains

Published

on

Stocks hit new highs as volatility wanes and dollar gains

Article content

(Corrects the spelling of the alternate trading venue to “Liquidnet” instead of “Liquident” in paragraph 11 of the June 8 story)

* MSCI ACWI, two European indices rise to all-time highs

* VIX volatility indicator slides to pre-COVID levels

* ECB and US inflation data will be released on Thursday.

* Chart: Overall asset performance http://tmsnrt.rs/2yaDPgn

* Chart: World Exchange Rates http://tmsnrt.rs/2egbfVh A benchmark global equity index and two key European stock indices hit new highs on Tuesday, while the dollar rose in anticipation of faster inflation as volatility declined to lows last seen before the coronavirus. pandemic.

Yields on US Treasury debt fell to their lowest level in more than a month, while euro zone bond yields fell with markets in a state of hold ahead of a policy meeting from the European Central Bank and US inflation data, both due Thursday.

The 10-year US Treasury bond fell 3.4 basis points to 1.5364%, suggesting that bond investors do not see a rise in inflation despite nagging nerves over the insistence of the Federal Reserve that a likely rise in consumer prices will be transitory.

Markets have been quiet ahead of the second quarter earnings release in July, when very strong results will be reported as they were so dismal a year ago, said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia.

Commercial

Article content

“Knowing that a solid earnings season is coming removes some worries,” Tuz said, preventing share prices from falling. “The markets are as flat and calm as they can be today.”

The MSCI World All Country Index, a US-centric benchmark for global equity markets, closed down 0.01% to 716.96 after previously scaling a new intraday high of 718. , 19.

In Europe, the pan FTS Eurofirst 300 index added 0.08% to close at a new all-time high, while the STOXX 600 index rose 0.15% to also establish a new closing high.

Telecom, travel and real estate stocks in Europe drove equity markets higher, but weak German industrial production data and doubts that Britain would lift the remaining pandemic restrictions later this month limited earnings.

The travel and leisure index rose 1.8%, supported in large part by earnings from low-cost carrier easyJet after Goldman Sachs raised the shares to “buy.”

Wall Street’s top three indices were up, and big-tech FAANG stocks led stocks higher as the prospect of lower inflation makes its long-term gains more valuable.

“We’ve seen the FAANGs back off in reaction to people buying the story that inflation is transitory,” said Simon Maughan, head of alpha trading at Liquidnet, an alternative trading venue.

Amazon.com Inc and Apple Inc rose while Alphabet Inc, parent of Google, and Facebook Inc fell.

Rising stocks outnumbered declining stocks on both the Nasdaq and the New York Stock Exchange, while growth-oriented stocks slightly outperformed undervalued stocks.

Commercial

Article content

The Dow Jones Industrial Average fell 0.09%, the S&P 500 gained 0.02% and the Nasdaq Composite added 0.31%.

Shares of electric car maker Tesla fell 0.3% after previously rising according to data from Beijing showing that its Chinese sales, which comprise a third of the company’s total sales, had seen a 29% jump on last month.

The data also showed that overall new electric vehicle sales in China increased 177% compared to the previous year.

In a sign of compliance by investors, the stock market’s so-called “fear gauge”, the VIX, fell to just 15.15, a level not seen since February 2020.

The British pound was under pressure as the British government considered whether to delay the removal of most of the remaining coronavirus restrictions and oil was stagnant, but both appeared to be temporary phenomena at worst.

Recent comments suggested that the European Central Bank has no plans to back down on its massive stimulus program anytime soon.

“I would expect the ECB to maintain a dovish stance as it would not want it to be seen as moving towards downsizing at this point,” said Lombard Odier, head of foreign exchange strategy at Vasileios Gkionakis.

The dollar index was up 0.148% and the euro was down 0.13% at $ 1.2173. The Japanese yen weakened 0.22% against the dollar at 109.49 per dollar.

US gold futures closed 0.2% lower at $ 1,894.40 an ounce.

Brent crude futures closed up 73 cents at $ 72.22 a barrel. US crude futures rose 82 cents to settle at $ 70.05 a barrel.

Overnight in Asia, Tokyo’s Nikkei 225 had fallen 0.2% as losses in market heavyweights offset gains by drug makers after the Alzheimer’s drug Eisai Co received US regulatory approval.

Commercial

In-depth reports on the economics of innovation from The Logic, presented in association with the Financial Post.

Comments

Postmedia is committed to maintaining a lively but civilized discussion forum and encourages all readers to share their views on our articles. Comments can take up to an hour to moderate before appearing on the site. We ask that you keep your comments relevant and respectful. We have enabled email notifications – you will now receive an email if you receive a response to your comment, there is an update from a comment thread you follow, or if a user you follow comments. Visit our Community Principles for more information and details on how to adjust your E-mail settings.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement
Advertisement

Lifestyle

A 5-Step Breathing Exercise to Fall Asleep A 5-Step Breathing Exercise to Fall Asleep
LifeStyle8 hours ago

A 5-Step Breathing Exercise to Fall Asleep

Simple breathing to soften Once you’ve settled into bed, try a simple breathing exercise to relax. The four-seven-eight breathing technique...

How to know when to throw something away How to know when to throw something away
LifeStyle8 hours ago

How to know when to throw something away

Healer and counselor Peggy Fitzsimmons, who has been helping people eliminate garbage from their lives for fifteen years, suggests that...

Why Crystal Therapy Serums and Mats Are Fun Why Crystal Therapy Serums and Mats Are Fun
LifeStyle8 hours ago

Why Crystal Therapy Serums and Mats Are Fun

Goop beauty editors Jean Godfrey-June and Megan O’Neill love asking and answering questions. On their podcast, The Beauty Closet, they...

What are therapeutic repairs?  |  Goop What are therapeutic repairs?  |  Goop
LifeStyle9 hours ago

What are therapeutic repairs? | Goop

Therapeutic reparations are about providing therapy to black, brown and indigenous people, since racial trauma is inherent in the black,...

The 7 best vegetables and how to cook them The 7 best vegetables and how to cook them
LifeStyle9 hours ago

The 7 best vegetables and how to cook them

In association with our friends from Willo Green leafy vegetables are dietary powerhouses. They can provide vitamins, minerals, antioxidants and...

Music therapy and aging |  Goop Music therapy and aging |  Goop
LifeStyle9 hours ago

Music therapy and aging | Goop

Most of us have experienced the power of music to connect people, be it at a concert or karaoke night....

Riley Reed’s Sunday night routine will inspire yours Riley Reed’s Sunday night routine will inspire yours
LifeStyle10 hours ago

Riley Reed’s Sunday night routine will inspire yours

“I didn’t always know what I wanted to do with my voice, I just knew I had to do something.”...

25 simple ways to cheer up your partner when he’s upset 25 simple ways to cheer up your partner when he’s upset
LifeStyle11 hours ago

25 simple ways to cheer up your partner when he’s upset

We’ve all been through it: you have a bad day at work, or you feel a little bad, maybe you...

20 ideas on how to celebrate the summer solstice and sunbathe 20 ideas on how to celebrate the summer solstice and sunbathe
LifeStyle11 hours ago

20 ideas on how to celebrate the summer solstice and sunbathe

I’ve always been a summer girl. It’s not cozy like fall, alive like winter, or hopeful like spring. Summer stands...

32 cute summer date ideas for every type of couple 32 cute summer date ideas for every type of couple
LifeStyle1 day ago

32 cute summer date ideas for every type of couple

A big date is always in style, but there is something about the summer that makes planning a meeting even...

Advertisement

Sport

When is Halo Infinite coming out?  Release Date, Xbox Exclusive Multiplayer Overview When is Halo Infinite coming out?  Release Date, Xbox Exclusive Multiplayer Overview
Sports5 mins ago

When is Halo Infinite coming out? Release Date, Xbox Exclusive Multiplayer Overview

The seemingly endless wait for the next Halo game is almost over. With E3 in early June, the final details...

Nets’ Kevin Durant is expected to commit to Team USA for the Tokyo Olympics Nets’ Kevin Durant is expected to commit to Team USA for the Tokyo Olympics
Sports6 mins ago

Nets’ Kevin Durant is expected to commit to Team USA for the Tokyo Olympics

The USA Basketball roster is starting to come together. According to The Athletic’s Shams Charania and Anthony Slater, Brooklyn Nets...

Inoue knocks out Dasmariñas;  Donaire-Casimero crash game Inoue knocks out Dasmariñas;  Donaire-Casimero crash game
Sports21 mins ago

Inoue knocks out Dasmariñas; Donaire-Casimero crash game

LAS VEGAS, NEVADA – JUNE 19: Referee Russell Mora cancels the fight between WBA / IBF bantamweight champion Naoya Inoue...

Did Al Horford ‘never really want to leave’ the Celtics in 2019? Did Al Horford ‘never really want to leave’ the Celtics in 2019?
Sports30 mins ago

Did Al Horford ‘never really want to leave’ the Celtics in 2019?

Al Horford is back with the Celtics after being traded by the Oklahoma City Thunder for Kemba Walker, and it...

US Open Live Blog: Canadian Mackenzie Hughes Seeks to Make History US Open Live Blog: Canadian Mackenzie Hughes Seeks to Make History
Sports44 mins ago

US Open Live Blog: Canadian Mackenzie Hughes Seeks to Make History

Canadian Mackenzie Hughes can make history on Sunday. Thanks to an impressive 68 of 3 under par in Saturday’s third...

Sun CEO James Jones Named Executive of the Year Sun CEO James Jones Named Executive of the Year
Sports51 mins ago

Sun CEO James Jones Named Executive of the Year

Sun Team Owner Robert Sarver announced before the first Phoenix Western Conference Finals appearance in 11 years that general manager...

Right perspective |  Sports Inquirer Right perspective |  Sports Inquirer
Sports1 hour ago

Right perspective | Sports Inquirer

The Philippines celebrate after beating South Korea. —PHOTO COURTESY OF FIBA Gilas Pilipinas compiled a 6-0 record in his corner...

Mets owner: Not the right time to renegotiate deGrom’s deal Mets owner: Not the right time to renegotiate deGrom’s deal
Sports1 hour ago

Mets owner: Not the right time to renegotiate deGrom’s deal

Mets ace Jacob deGrom is the best pitcher in the world, and team owner Steve Cohen presumably would like the...

Report: Golden Knights to start Robin Lehner in Game 4 against Canadiens Report: Golden Knights to start Robin Lehner in Game 4 against Canadiens
Sports1 hour ago

Report: Golden Knights to start Robin Lehner in Game 4 against Canadiens

The Vegas Golden Knights are you ready to start Robin lehner on the net for Game 4 of the Stanley...

Fernando Tatis Jr day to day with shoulder injury Fernando Tatis Jr day to day with shoulder injury
Sports2 hours ago

Fernando Tatis Jr day to day with shoulder injury

San Diego Padres shortstop Fernando Tatis Jr. exited Saturday’s game against the Cincinnati Reds after appearing to sustain a shoulder...

Advertisement

Entertainment

Actress, drama coach was 81 years old – News Block Actress, drama coach was 81 years old – News Block
Entertainment59 seconds ago

Actress, drama coach was 81 years old – News Block

Ann Willis Ratray, who appeared on Broadway and television before becoming a youth theater coach, including her son, Home aloneDevin...

Usain Bolt welcomes twins with girlfriend Kasi Bennett, reveals their unique names Usain Bolt welcomes twins with girlfriend Kasi Bennett, reveals their unique names
Entertainment9 mins ago

Usain Bolt welcomes twins with girlfriend Kasi Bennett, reveals their unique names

Olympic gold medalist Usain Bolt is now the father of three! The retired Jamaican sprinter, 34, and his partner Kasi...

Bindi Irwin praises Chandler Powell as his best friend Bindi Irwin praises Chandler Powell as his best friend
Entertainment20 mins ago

Bindi Irwin praises Chandler Powell as his best friend

June 19, 2021 Bindi Irwin praised her husband Chandler Powell as her “best friend.” Chandler Powell and Bindi Irwin The...

Vivendi Sells 10% Stake in Universal Music Group to Pershing Square – News Block Vivendi Sells 10% Stake in Universal Music Group to Pershing Square – News Block
Entertainment23 mins ago

Vivendi Sells 10% Stake in Universal Music Group to Pershing Square – News Block

French media giant Vivendi struck a deal to sell a 10% stake in Universal Music Group to billionaire Bill Ackman’s...

‘Hart of Dixie’ romance was like FNL coach Taylor, Tami ‘Hart of Dixie’ romance was like FNL coach Taylor, Tami
Entertainment33 mins ago

‘Hart of Dixie’ romance was like FNL coach Taylor, Tami

George Tucker may have been unlucky with Lemon Breeland and Dr. Zoe Hart, but he finally found his southern beauty...

Bindi Irwin at war with family and mother-in-law Bindi Irwin at war with family and mother-in-law
Entertainment43 mins ago

Bindi Irwin at war with family and mother-in-law

Celebrities Coverage: Bindi Irwin “at war” with family and mother-in-law Has Bindi Irwin been in conflict with her family and...

Top TV Executives Reveal How They Coped With Anxiety And Change During The Pandemic And Spotlight Empowering Mentors – ATX – News Block Top TV Executives Reveal How They Coped With Anxiety And Change During The Pandemic And Spotlight Empowering Mentors – ATX – News Block
Entertainment46 mins ago

Top TV Executives Reveal How They Coped With Anxiety And Change During The Pandemic And Spotlight Empowering Mentors – ATX – News Block

A group of top television executives shared how they dealt with the last 15 months of the pandemic during an...

Cindy Crawford loves this $ 8 mascara to get her luscious lashes Cindy Crawford loves this $ 8 mascara to get her luscious lashes
Entertainment54 mins ago

Cindy Crawford loves this $ 8 mascara to get her luscious lashes

Us Weekly has affiliate associations, so we may receive compensation for some links to products and services. We always expect...

Heather Dubrow talks about why she agreed to return to RHOC, says she left due to ‘culture change’ as Andy Cohen talks Heather Dubrow talks about why she agreed to return to RHOC, says she left due to ‘culture change’ as Andy Cohen talks
Entertainment60 mins ago

Heather Dubrow talks about why she agreed to return to RHOC, says she left due to ‘culture change’ as Andy Cohen talks

Credit: Milla Cochran / Startraksphoto, s_bukley / Shutterstock Heather dubrow reveals his first reaction when asked to return to the...

Stars are waiting for children in 2021 Stars are waiting for children in 2021
Entertainment1 hour ago

Stars are waiting for children in 2021

In cutting mode! The year 2021 is here and it will be a lot of fun for some of your...

Advertisement

Tech

Act NOW to get an Apple TV 4K for under $ 100 before Prime Day begins Act NOW to get an Apple TV 4K for under $ 100 before Prime Day begins
Tech8 mins ago

Act NOW to get an Apple TV 4K for under $ 100 before Prime Day begins

While we’re all looking forward to some stellar Prime Day Apple TV deals in the days ahead, nothing is certain...

How to move your Mac’s mouse by following your head with a webcam How to move your Mac’s mouse by following your head with a webcam
Tech19 mins ago

How to move your Mac’s mouse by following your head with a webcam

Reduce your dependence on the mouse by using your head, by enabling Head Pointer in macOS to move the cursor...

Best Buy Sunday Flash Sale: Apple Watch Reduced Price, $ 380 60-Inch TV and More Deals Best Buy Sunday Flash Sale: Apple Watch Reduced Price, $ 380 60-Inch TV and More Deals
Tech28 mins ago

Best Buy Sunday Flash Sale: Apple Watch Reduced Price, $ 380 60-Inch TV and More Deals

This story is part of Amazon Prime Day 2021, CNET’s guide to everything you need to know and how to...

Don’t wait for Prime Day!  This iPad mini deal won’t last. Don’t wait for Prime Day!  This iPad mini deal won’t last.
Tech32 mins ago

Don’t wait for Prime Day! This iPad mini deal won’t last.

Apple has a lot of options for you these days when it comes to iPad models, but the price of...

Best Prime Day Laptop Deals: Save $ 500 on the Dell XPS 13, $ 270 on a Gateway Laptop and More Best Prime Day Laptop Deals: Save $ 500 on the Dell XPS 13, $ 270 on a Gateway Laptop and More
Tech49 mins ago

Best Prime Day Laptop Deals: Save $ 500 on the Dell XPS 13, $ 270 on a Gateway Laptop and More

This story is part of Amazon Prime Day 2021, CNET’s guide to everything you need to know and how to...

Act fast to get the badass Beats Solo Pro headphones for half off at Walmart Act fast to get the badass Beats Solo Pro headphones for half off at Walmart
Tech53 mins ago

Act fast to get the badass Beats Solo Pro headphones for half off at Walmart

If you want to listen to Apple Music with Dolby Atmos and high-quality lossless audio, then you will want to...

Sweet Tooth on Netflix: that ending explained and all your questions answered Sweet Tooth on Netflix: that ending explained and all your questions answered
Tech1 hour ago

Sweet Tooth on Netflix: that ending explained and all your questions answered

Christian Convery plays Gus, the 10-year-old half-human, half-deer boy. Netflix If you just finished the heartfelt Netflix fairy tale Greedy,...

FCC Updates Emergency Alerts to Avoid 2018 False Alert Fiasco FCC Updates Emergency Alerts to Avoid 2018 False Alert Fiasco
Tech1 hour ago

FCC Updates Emergency Alerts to Avoid 2018 False Alert Fiasco

The Federal Communications Commission is updating its text alert system, combining two types of alerts into a single category of...

Wake up on Netflix: the ending explained and all your questions answered Wake up on Netflix: the ending explained and all your questions answered
Tech2 hours ago

Wake up on Netflix: the ending explained and all your questions answered

Gina Rodríguez stars in Awake. Netflix What happens when everyone in the world loses the ability to fall asleep? We...

Loki Episode 2 Recap, Easter Eggs: God of Mischief Hunts Himself Through Time Loki Episode 2 Recap, Easter Eggs: God of Mischief Hunts Himself Through Time
Tech2 hours ago

Loki Episode 2 Recap, Easter Eggs: God of Mischief Hunts Himself Through Time

Loki has a tense team with Hunter B-15. Marvel studios Loki Episode 2 eponymous solo adventure on Disney Plus picks...

Advertisement
Advertisement