Strong economic data lift stocks to record highs

Written by on 04/06/2021

Strong economic data lift stocks to record highs

Via Reuters:

World stocks hit record highs on Tuesday, supported by strong economic data from China and the United States, while currency and bond markets paused after a month of rapid gains in the dollar and Treasury yields.

Equities as measured by the 49-country spanning MSCI All Country World Index reached a record high as European stocks caught up with gains in Asia and Wall Street overnight in their first trading session since the Easter holiday.

The pan-European STOXX 600 index climbed to a record high of 436.47 points after the open in Europe and was up 0.8% at 1118 GMT.

Profit-taking pushed Japan’s Nikkei down 1% and dragged on the Shanghai Composite.

The S&P 500 closed Monday at a record high and futures dipped 0.2% on Tuesday.

On the heels of a strong U.S. jobs report on Friday, March data showed services activity rising to a record high. China’s services have also gathered steam with the sharpest increase in sales in three months.

“We think investors should not fear entering the market at all-time highs,” said Mark Haefele, chief investment officer at UBS Global Wealth Management.

“We recommend continuing to position for the reflation trade as the economic recovery gathers pace – data released Friday showed U.S. non-farm payrolls surged by 916,000 in March, the biggest gain since August. “

The yield on benchmark 10-year U.S. Treasuries fell to 1.6986%, while the U.S. dollar has mostly missed out on a big bounce from the strong data and held at $1.1860 per euro a day after posting its steepest drop since mid-March.

Elsewhere, Swiss lender Credit Suisse sought to draw a line under its exposure to the implosion of hedge fund Archegos Capital, announcing the debacle would cost it about $4.7 billion and two senior executives their jobs.

 


Our Readers And Listeners Keep Us In Print & On The Air!

Click here to subscribe to The CRUSADE Channel’s Founders Pass Member Service & Gain 24/7 Access to Our Premium, New Talk Radio Service. www.crusadechannel.com/go

What Is The Crusade Channel?

The CRUSADE Channel, The Last LIVE! Radio Station Standing begins our LIVE programming with our all original CRUSADE Channel News hosted by Ron Staffard. Coupled with Mike “The King Dude” Church entertaining you during your morning drive and Rick Barrett giving you the news of the day and the narrative that will follow during your lunch break!

We’ve interviewed over 300 guests, seen Brother Andre Marie notch his 200th broadcast of Reconquest; The Mike Church Show over 1200 episodes; launched an original LIVE! News Service; written and produced 4 Feature Length original dramas including The Last Confession of Sherlock Holmes and set sail on the coolest radio product ever, the 5 Minute Mysteries series! We were the ONLY RADIO outlet to cover the Impeachment Trials of President Trump from gavel to gavel!

Now that you have discovered The Crusade, get30 days for FREE of our premium News-Talk Radio service just head to:

https://crusadechannel.com OR download our FREE app: https://apps.appmachine.com/theveritasradionetworkappIti-

Did you know about economic data? If you are interested in supporting small business, be sure to check out the official store of the Crusade Channel, the Founders Tradin Post! Not to mention our amazing collection of DVD’s, Cigars, T-Shirts, bumper stickers and other unique selection of items selected by Mike Church!


Reader's opinions

Leave a Reply


CRUSADE Channel Previews

CRUSADE Preview-Call 844-527-8723 To Subscribe

Current track

Title

Artist