Global equities rise over 1% on positive data, with dollar and yields strengthening

From Investing.com: 2024-08-08 12:50:52

Global equities rose over 1% on Thursday after U.S. unemployment claims fell more than expected, calming recession fears. Oil prices increased for a third day due to Middle East supply risks outweighing demand concerns. U.S. labor data showed a 17,000 drop in jobless claims, exceeding economists’ expectations at 233,000. The encouraging data followed last week’s weak jobs report. Stock markets started the day positively, with Wall Street up over 1%. MSCI’s global stock index also rose by 1.09%. Analysts expect continued market volatility in the coming days. The dollar strengthened against other currencies, with the dollar index up 0.24% at 103.36. U.S. Treasury yields rose as unemployment data indicated a less imminent recession, with the 10-year yield at 4.005%. Crude oil prices rose, with Brent crude at $78.71 per barrel. Gold and silver prices also saw gains.



Read more at Investing.com: Global stock index rises with dollar, yields as data calms nerves By Reuters