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U.S. Equity Futures Rise With Stocks Near Records: Markets Wrap
Bloomberg 18 mins ago Emily Barrett
(Bloomberg) Global stocks traded around record levels Friday after a Wall Street rally on Federal Reserve Chairman Jerome Powell’s assurance that the central bank can reinvigorate the economy without stoking painful inflation.
A gauge of Asia-Pacific shares edged up, with Japan rising but Hong Kong and China slipping. Data showed the fastest Chinese producer price inflation since 2018. U.S. equity contracts climbed after the S&P 500 notched an all-time high amid low volumes on U.S. exchanges. Nasdaq 100 futures led gains after the index rose 1% overnight, aided by Apple Inc. and Tesla Inc.
Associated Press
A poster is displayed on the International Monetary Fund building this week in Washington, where the IMF and the World Bank held their virtual spring meetings. Previous Next
Friday, April 09, 2021 1:00 am
IMF reserves to aid vulnerable
$650 billion to help poor nations recover
MARTIN CRUTSINGER | Associated Press
WASHINGTON – The International Monetary Fund on Thursday authorized a $650 billion expansion of the 190-country lending institution s resources with the aim of providing more support for vulnerable countries as they battle the novel coronavirus pandemic.
IMF Managing Director Kristalina Georgieva said the $650 billion increase in reserves is the largest in IMF history. The move will provide badly needed reserves for poor countries struggling with deep recessions caused by the pandemic and the need to obtain and administer millions of doses of vaccines, she said.
9 Apr in 11:20
Federal Reserve Chairman Jerome Powell said Thursday that confidence in resuming economic activity will depend on global coronavirus vaccination efforts as world leaders move forward with efforts to dig out of the economic crisis caused by the coronavirus pandemic. Viruses are no respecters of borders, and until the world really is vaccinated, we re all going to be at risk of new mutations and we won t be able to really resume with confidence all around the world, Powell said. He called global vaccination efforts not only the right thing to do, it s also the smart thing to do.
Powell made the remarks while speaking on an International Monetary Fund panel about the global economy. As the U.S. moves toward normalizing Federal Reserve activity, Powell said they are keeping a close eye on vaccination progress around the world. It s a risk in the United States as well, he said, and even if another U.S. outbreak is not as deadly or economically damaging, it will slow
Stocks Trade Near Records as Futures Edge Higher: Markets Wrap
Bloomberg 1 hr ago Emily Barrett
(Bloomberg) Global stocks traded around record levels Friday after a Wall Street rally on Federal Reserve Chairman Jerome Powell’s assurance that the central bank can reinvigorate the economy without stoking painful inflation.
A gauge of Asia-Pacific shares dipped, with Japan rising as Hong Kong and China edged lower. Data showing the fastest Chinese producer price inflation since 2018 raised concerns about a faster pullback in central bank support. U.S. futures climbed after the S&P 500 notched an all-time high amid low volumes on U.S. exchanges. The Nasdaq 100 outperformed on rallies in tech stocks.