On Wednesday, US indices recovered after a two-day decline because of the strong demand for stocks, which could benefit from a possible economic recovery.
European stocks rallying after the positive reports from Nestlé and Volvo and approached record highs today after declining earlier in the week. Good results of a number of companies boosted market sentiment ahead of the European Central Bank meeting.
Asia-Pacific stocks were rising this morning, interrupting their fall for two straight days after their US counterparts were supported by the growth of companies that could benefit the most from the economic recovery after COVID-19.
In the morning, Japanese stocks grew as investors bought up the stocks of the companies that produce electronic chips. The same story was with cyclical stocks after a two-day decline in all sectors, abetted by the Wall Street closure on an upbeat note the day before.
Oil prices are declining for a third straight day, as an unexpected increase in U.S. inventories and a rise in new COVID-19 cases in India and Japan exacerbate concerns that a global recovery and fuel demand could stall.
Main market quotes:
- S&P 500 (F) 4,163.62 -1.13 (-0.33%)
- Dow Jones 34,137.31 +316.01 (+0.93%)
- DAX 15,282.15 +86.18 (+0.57%)
- FTSE 100 6,919.80 +24.51 (+0.36%)
- USD Index 91.088 -0.041 (-0.04%)
Important events:
- ECB Interest Rate Decision at 14:45 (GMT+3);
- USA Initial Jobless Claims at 15:30 (GMT+3);
- ECB Press Conference at 15:30 (GMT+3).
