Investors are expecting a host of data in the US ahead of Thursday's Thanksgiving holiday
London — Stocks recovered some lost ground on Wednesday as crude prices lifted oil companies, but rising Covid-19 cases in Europe, weaker economic sentiment in Germany and a bagful of US data ahead of the Thanksgiving holiday were a focus for investors.
“People are struggling to determine whether or not the move down this week was the beginning of a correction, a test lower, or just uncertainty driving flows,” said Mike Hewson, chief markets analyst at CMC Markets. Ifo said the fall in business morale in Europe's biggest economy is a concern, with growth expected to stagnate in the fourth quarter as companies cope with supply chain bottlenecks.
“There’s a risk that the Fed may speed up tapering and that in turn means the timetable for tightening may be brought forward, contributing to the stronger dollar,” said currency strategist Sim Moh Siong at Bank of Singapore. MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.14%, while Japan's benchmark Nikkei stock price index fell 1.6% as investors returned from a holiday and caught up with global falls the day before. Chinese blue chips were slightly firmer.
The greenback was trading at ¥115.05 after hitting a four-and-a-half-year top of ¥115.22. Noninterest bearing gold, which had reacted poorly to the rise in treasury yields, recovered a little. The spot price was last at $1,792 up 0.16% but still close to Tuesday’s two-week low.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kick-start your global adventure with Black Friday deals on TEFL coursesSPONSORED | Now’s the time to get your English teaching passport to international travel at a fraction of the cost with up to 70% off courses at The TEFL Academy
Read more »
SHAWN HAGEDORN: Conditions are right for SA to become a global ESG leaderInvestors and money managers can help shift social responsibility from the government to business and investment communities
Read more »
Coronavirus: Latest global developmentsThe coronavirus has killed at least 5,148,939 people since the outbreak emerged in China in December 2019, according to a tally from official sources compiled by AFP at 1100 GMT Monday.
Read more »
CORONAVIRUS GLOBAL UPDATE: Denver reimposes mask mandate; South Africa registers 868 new casesSouth Africa registered 868 new Covid-19 cases, bringing the cumulative total to 2,948,760. A further 51 Covid-19-related deaths were reported, taking total official deaths to 89,635. A total of 24,874,528 people have been vaccinated.
Read more »
Market data — November 23 2021Market data including bonds and fuel prices
Read more »
Coronation reports bumper year but warns savings outlook still gloomyBuoyant global markets help group increase profit over a fifth to end-September
Read more »