Stocks grind higher on recovery hopes
FILE PHOTO: A visitor takes a photograph of a board displaying stock prices at the Australian Securities Exchange in Sydney, Australia March 6, 2017. REUTERS/Steven Saphore
“However, provided any second wave is relatively mild in terms of pressure on health systems and the number of deaths, its unlikely to reap the havoc seen back in March.” It was enough to inject a note of caution into trading and Japan’s Nikkei eased 0.5%, after jumping almost 5% on Tuesday for its biggest daily gain in three months.
That followed a robust session on Wall Street overnight. The Dow ended Tuesday up 2.04%, while the S&P 500 gained 1.90% and the Nasdaq 1.75%. “But questions about the extent of lasting damage will have to wait for a number of months before being resolved.” Thirty-year yields were last down two basis points at 1.52%, having risen by the most in a month on Tuesday.
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