Treasuries advanced and the dollar weakened after data showing a steeper drop in durable goods than forecast raised concern about the pace of U.S. economic growth. Health- care and tech shares led U.S. stocks higher.
The Nasdaq 100 Index continued its climb back from a two- week selloff earlier in June, while stocks rose in Europe on news of an Italian bank clean-up and Dan Loeb’s investment in Nestle SA. Treasuries turned higher as an unexpected drop in orders for business equipment last month signaled slowing momentum in the world’s largest economy. The British pound gained as Theresa May struck a deal to shore up her government.
Stocks around the world started the week higher, with investors looking to a jam-packed agenda for central-bank speakers. Comments are due from Janet Yellen, Mario Draghi, Mark Carney, Haruhiko Kuroda and more. The report on U.S. durables goods kicks off a string of economic data that may also drive momentum in financial markets, with key reports due on inflation, employment, manufacturing and housing from China to the U.S.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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