US dollar strengthens on Trump re-election bets, global stocks slip on trade war fears

From Investing.com: 2024-07-16 06:14:00

US dollar extended its rebound as the US yield curve steepened on bets of a Trump re-election. Despite Dow Jones hitting a record high, global stocks slipped on fears of a trade war. Market sentiment improved after dovish remarks from Powell, with a focus on upcoming retail sales data for further insight. For US equities, upbeat earnings and Trump bets drove stocks to new highs, with energy and banking sectors leading the rally. However, global markets remained cautious about a Trump presidency, with concerns about trade tensions escalating. The yen weakened, while economic data from the US and Canada are awaited.



Read more at Investing.com: US Dollar Recovers Further on Growing Trump Bets