U.S. technology shares led gains that set benchmark equity indexes on course for fresh records, while hawkish comments from a Federal Reserve official boosted the dollar and Treasury yields.
The Nasdaq 100 Index halted a three-day slide, as large-cap tech stocks rebounded from two weeks of declines. Treasuries fell after William Dudley said halting the tightening cycle now would imperil the economy. French equities rose after the country’s new president won a free hand to drive through economic reforms. The pound edged higher and the euro was steady as Brexit talks began.
Investors are in risk-on mode as the week begins, even as a cloud of uncertainty swirls around both U.K. leadership and the outlook for Brexit negotiations.
“Risk assets around the world are rallying again as the ‘carry party’ resumes,” Societe Generale SA strategist Kit Juckes wrote in a client note.
Here are the main moves in markets:
The S&P 500 Index rose 0.4 percent to 2, 442.93/
The Nasdaq 100 rose 0.8 percent.
The Stoxx Europe 600 jumped 0.8 percent after falling 0.5 percent last week.
Currencies:
The Bloomberg Dollar Spot Index edged higher by 0.2 percent.
The yen declined 0.4 percent to 111.321 per dollar.
The pound fell 0.1 percent to $1.2761.
The euro dropped 0.2 percent to $1.1176.
Commodities:
Gold dropped 0.1 percent to $1,252.33an ounce, heading for an eighth decline in nine sessions.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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