Global stocks rise after US shutdown ends

Published: January 26, 2019 12:02:30 | Updated: January 29, 2019 12:08:39


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Global stocks rose on Friday as investors reacted to corporate earnings reports and US President Donald Trump announced an agreement to end the longest ever US government shutdown.

Wall Street indexes rallied and bond yields followed stocks higher, but the dollar index fell from the three-week high hit on Thursday.

The Dow Jones Industrial Average rose 180.13 points, or 0.73 per cent, to 24,733.37, the S&P 500 gained 21.98 points, or 0.83 per cent, to 2,664.31.

The Nasdaq Composite added 85.26 points, or 1.21 per cent, to 7,158.72, reports Reuters.

The pan-European STOXX 600 index rose 0.61 per cent and MSCI’s gauge of stocks across the globe gained 1.02 per cent after touching its highest point since early December.

However, not all investors were optimistic as some turned to gold, often seen as safe-haven bet. Spot gold added 1.4 per cent to $1,298.48 an ounce, helped by the dollar decline.

In currency, the euro rebounded against the dollar after falling to its lowest level in six weeks Thursday. The British pound was up 0.8 per cent.

The euro rose 0.95 per cent to $1.1412. The dollar index, which measures the dollar against six other currencies, fell 0.83 per cent.

Benchmark 10-year notes last fell 11/32 in price to yield 2.7513 per cent, from 2.712 percent late on Thursday.

Oil prices rose as political turmoil in Venezuela threatened to reduce supply, but fresh data on surging US fuel stocks and global economic woes weighed on sentiment.

Brent crude futures settled at $61.64 a barrel, up 55 cents, or 0.90 per cent. US crude oil futures settled at $53.69 a barrel, up 56 cents, or 1.05 per cent.

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