Global stocks jump after encouraging signs from Wall Street

TOKYO - Global stocks jumped Wednesday after encouraging signs of strength in the U.S. economy sent shares higher on Wall Street.

See Full Article

KEEPING SCORE: France's CAC 40 added nearly 0.7 per cent in early trading to 4,436.94. Germany's DAX rose nearly 0.8 per cent to 9,793.25. Britain's FTSE 100 edged up 0.6 per cent to 6,188.19. U.S. shares were set to drift higher, with Dow futures inching up nearly 0.1 per cent to 16,865. S&P 500 futures inched up 0.07 per cent to 1,979.30.

UPBEAT U.S.: Stocks on Wall Street roared to their best day in more than a month overnight on positive data, including construction spending reaching its highest level in eight years in January. Separately, a survey showed some signs of life in the beaten-down U.S. manufacturing sector.

ANALYST VIEWPOINT: "We have seen an immense risk-on rally over the past 24 hours of trade, and a lot of this does look to be underpinned by the stability that oil has found above the US$30 level over the past two weeks," Angus Nicholson of IG said in a commentary.

ASIA'S DAY: A weak yen added to investor optimism, sending Japan's benchmark Nikkei 225 up 4.1 per cent to close at 16,746.55. South Korea's Kospi rose 1.6 per cent to 1,947.42. Hong Kong's Hang Seng added 3.1 per cent to 20,003.49, while the Shanghai Composite Index added 4.3 per cent to 2,849.68. Other regional markets were also higher, including Singapore, Taiwan and Indonesia.

ENERGY: U.S. crude fell 49 cents to $33.91 a barrel in New York. Brent crude, the benchmark for international oils, dipped 6 cents to $36.75 a barrel in London.

CURRENCIES: The euro fell to $1.0865 from $1.0883 late Tuesday and the dollar rose to 114.37 yen from 112.38 yen.



Advertisements

Latest Economic News

  • Bitcoin and blockchain start-ups cashing in on cryptocurrency frenzy

    Economic CTV News
    CALGARY -- The investor frenzy driving bitcoin prices to precipitous heights is playing out on stock markets as well, as companies shift focus to cryptocurrencies to get in on the latest boom. "People are trying to surf off the wave of bitcoin by strategically changing their name," said Jean-Philippe Vergne, co-director of the Scotiabank Digital Banking Lab at Western University. Source
  • Bernie Sanders, others on political left push Trump to maintain NAFTA hard line

    Economic CTV News
    WASHINGTON - Donald Trump is being told to stay strong on trade by people who aren't normally his allies. Bernie Sanders and other members of the anti-NAFTA left are holding a news conference on Capitol Hill this morning. Source
  • Uber: No evidence hackers took rider credit card numbers

    Economic CTV News
    DETROIT -- Uber says an outside cyber security firm hired after a massive data breach has found no evidence that rider credit card, bank account or Social Security numbers were downloaded by hackers. The company also says in a response to demands for information from U.S. Source
  • Fed raises interest rates, keeps policy outlook unchanged for 2018

    Economic CBC News
    The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, as anticipated, but left its rate outlook for the coming years unchanged even as policymakers projected a short-term acceleration in U.S. Source
  • Housing market expected to slow next year, but prices still forecast to rise

    Economic CTV News
    TORONTO -- New stricter mortgage rules are expected to slow the housing market next year, but prices are still expected to rise about five per cent, according to a report by Royal LePage. In its market survey forecast, the real estate firm says its house price composite, which measures prices in 53 Canadian cities, is expected to increase 4.9 per cent next year to $661,919. Source
  • Meal-kit trend grows into $120M industry in Canada

    Economic CTV News
    Matthew Richardson decided it was finally time to change his cooking habits. After moving in with his girlfriend this past summer, Richardson, 36, figured they should put a stop to their frequent eating out and make a real effort to prepare their own meals at home. Source
  • Meal kits are now a $120M industry in Canada

    Economic CTV News
    Matthew Richardson decided it was finally time to change his cooking habits. After moving in with his girlfriend this past summer, Richardson, 36, figured they should put a stop to their frequent eating out and make a real effort to prepare their own meals at home. Source
  • Hectic lives making meal kits delivered to your door a booming trend in Canada

    Economic CBC News
    Matthew Richardson decided it was finally time to change his cooking habits. After moving in with his girlfriend this past summer, Richardson, 36, figured they should put a stop to their frequent eating out and make a real effort to prepare their own meals at home. Source
  • Legal weed stores will be 'very chic, very modern'

    Economic CTV News
    This is what the end of cannabis prohibition will look like in New Brunswick: An upscale showroom with black ceilings, grey walls and a once-illicit drug displayed in brightly lit glass cases. "Think along the lines of a jewellery store. Source
  • U.S. inflation rate ticks up to 2.2% as Federal Reserve expected to announce rate hike

    Economic CBC News
    Gasoline prices in the U.S. rose by 7.3 per cent last month, enough to push the country's overall inflation rate up to 0.4 per cent. The Department of Labour said Wednesday that November's data means the annual inflation rate hit 2.2 per cent for the 12-month period. Source