U.S. stocks rallied for a second day yesterday, getting a lift from Apple and Boeing results and after the Federal Reserve, while keeping rates unchanged, left the door open for future easing if economic strains required it. Most European stock markets extended an advance to a second day yesterday, while a halo effect from Apple’s surprisingly strong earnings boosted tech shares in the region. Many Asia markets gave up early gains to trade lower this morning, as investors digested a mixed bag of earnings reports, though Sydney and Hong Kong bourses held on to their advance.
The Dow Jones Industrial Average ended up 89.16 points, or 0.7%, to 13 090.72. The S&P 500 added 18.72 points, or 1.4%, to 1 390.69. The Nasdaq Composite, the only one of the major benchmarks to fall in the prior session, rose 68.03 points, or 2.3%, to 3 029.63.
The Stoxx Europe 600 index closed 1% higher at 256.960, In France, banks helped lift the CAC 40 index 2% to 3 233.46. The FTSE 100 index settled 0.2% higher at 5 718.89, with gains capped by data that unexpectedly showed the British economy slipped into recession in first quarter. The DAX 30 index rose 1.7% rise to 6 704.50.
The Shanghai Composite Index and Japan’s Nikkei Stock Average each lost 0.2%., while South Korea’s Kospi slipped 0.1%. However, Hong Kong’s Hang Seng Index gained 0.5%. Australia’s S&P/ASX 200 index added 0.3% as trading resumed in Sydney after a one-day break.
The US dollar is currently trading at 1.32 to the euro, 1.61 to the pound and will buy 81.14 Japanese Yen or 7.72 South African Rand.
The JSE All Share index was up 0.35% to 33 940.11 points, with resources adding 0.78%, platinum shares advancing 0.32% and gold counters lifting 1.72%. Financials were marginally positive, up 0.21%, as were banking stocks at 0.13%, while industrials edged up 0.13%.
The benchmark R157 bond was at 6.485% from its previous close of 6.480%. The R207 was at 7.550%, unchanged from its previous close and the R186 was trading at 8.170% from its close of 8.150%.
The rand was bid at R7.7616 against the dollar from its previous close of R7.7795.
Spot gold is currently trading at US$ 1 641.40/oz and platinum at US$ 1 557.00/oz. Brent crude oil is currently trading at US$ 119.12 per barrel.