Gold Bulls Bolstered by Fed s Resolve as Dollar Buckles wbap.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wbap.com Daily Mail and Mail on Sunday newspapers.
Crude Rises With Potential Virus-Relief Deal Fueling Optimism
Bloomberg 12/17/2020 Andres Guerra Luz and Alex Longley
(Bloomberg) Oil climbed to the highest since February as U.S. lawmakers discuss a virus relief deal that could provide a near-term boost to demand ahead of a wider distribution of the Covid-19 vaccine.
U.S. benchmark crude futures rose 1.1% on Thursday in tandem with a broader market gain. Weak labor market data stoked optimism that Congressional leaders will finalize another round of fiscal stimulus. Meanwhile, European authorities were said to be expediting a vaccine roll-out before Christmas.
“Stimulus is a big driver,” said Gary Cunningham, a director at Stamford, Connecticut-based Tradition Energy. “As we see more stimulus money coming through Congress, it brings more certainty to U.S. economic conditions improving and folks getting back to more free spending.”
U.S. Stocks Rise to Records, Treasuries Decline: Markets Wrap
Bloomberg 12/17/2020 Claire Ballentine and Vildana Hajric
(Bloomberg) U.S. stocks notched a solid gain to close at all-time highs, even as lawmakers continue to wrangle over a federal-spending deal.
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The S&P 500 climbed for a third day, even with Republicans and Democrats still unable to reach an agreement that would assist millions of Americans who face losing virus-era assistance later this month. Investors earlier took an unexpectedly large rise in jobless claims as a sign the two sides would be prodded toward a deal. The dollar slumped, Treasury yields rose and oil advanced. Bitcoin breached $23,000 for the first time.
Investing Abroad: U S Stocks climb, bonds fall on stimulus bets financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Stocks climb on aid talks as bonds drop after Fed
Albertina Torsoli and Adam Haigh, Bloomberg News
BNN Bloomberg s mid-morning market update: December 16, 2020 VIDEO SIGN OUT
Stocks rose on speculation that lawmakers are getting closer to a stimulus deal aimed at reviving the worldâs largest economy. Treasuries fell as the Federal Reserve disappointed some traders who expected changes to the composition of bond purchases.
The S&P 500 notched back-to-back gains after Senate Majority Leader Mitch McConnell said Congressional leaders are still talking about fresh aid and he thinks âweâre gonna get there.â Retailers and technology shares drove the advance in the benchmark gauge amid thin trading volume. The Nasdaq 100 outperformed, while the Dow Jones Industrial Average dropped. Treasuries pared some of its losses, with the yield on 10-year notes remaining below 1 per cent. Bitcoin surpassed US$20,000 for the first time.