Investors around the world are piling into U.S. stocks to shelter from the turbulence in global markets: “The U.S. looks the least challenged in a very challenging world.'
The S&P 500 has outpaced major stock indexes in Europe and Asia since hitting its low for the year in mid-June. The U.S. benchmark has risen 6.6% since June 16, while the pan-continental Stoxx Europe 600 has added 2.9%, Japan’s Nikkei 225 has advanced 4.5%. Germany’s DAX and the Shanghai Composite have slid 1.3% over the same period.
This week investors will parse data from the services sector and the so-called beige book, the Federal Reserve’s periodic compilation of business anecdotes from around the country, for clues about the market’s trajectory. They will also watch the European Central Bank monetary policy meeting where the bank is again expected to raise interest rates.from Friday’s jobs report, at least initially. The U.S. economy added jobs at a solid, but slower, clip in August.
by steeply raising interest rates, even if it leads to an economic slowdown. The S&P 500 has fallen for three consecutive weeks, bringing its losses for the year to date to 18%. Meanwhile, the U.S. dollar, considered a haven asset for investors across the world, has surged to a 20-year high. That has—including the Japanese yen, euro and British pound—to their weakest levels in decades. When the dollar gains, it makes stock returns more attractive when compared with local securities.
Jerry Braakman, president and chief investment officer of First American Trust in Santa Ana, Calif., said he is seeking safety in the U.S. Treasury bonds, cash and defensive stock sectors this year. He isn’t looking to add to his international equity exposure, such as in emerging markets, China, Japan and Europe in the near term, he added.
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.
Billionaire David Rubenstein, at National Book Festival, reveals traits shared by successful investorsCarlyle Group co-founder David Rubenstein shares money-making tips and insights into successful investors from his new book 'How to Invest' at the National Book Festival in Washington, D.C.
Read more »
Billionaire businessman explains how to invest like the best - CNN VideoDavid Rubenstein, author of 'How to Invest: Masters on the Craft' tells CNN's Matt Egan how the best investors approach their portfolios during times of volatility.
Read more »
Porsche plans blockbuster IPO in the coming weeksThe iconic Porsche brand is officially going public despite stomach-churning stock market turbulence that's frozen out other big deals.
Read more »
Congress returns to face shutdown deadline, with disagreements over spending on COVID, UkraineOne key task for U.S. lawmakers is agreeing on a spending measure this month in order to avoid a partial government shutdown. The coming midterm elections are likely to help prevent each party from risking a shutdown.
Read more »
Russian gov't working on stablecoin settlement platform between friendly nations: State mediaDeputy Finance Minister Alexey Moiseev said Russia is creating a cross-border settlement platform to avoid using U.S. dollars and euros.
Read more »