Unrest in Hong Kong over Beijing’s proposed national-security laws weighed on global shares and oil prices on Wednesday, offsetting optimism about the reopening of the world economy
hit an 11-week high as thousands of retailers prepared to re-open on June 1 from a months-long shutdown.
“You have two elements going in the right direction. You have the end of lockdown going quite well and PMI data showing the ability of economies to recover in the second half of the year is still there,” said Francois Savary, chief investment officer at Swiss wealth manager Prime Partners. E-Mini futures for the S&P 500 rose 0.5% to near their two-and-a-half-month high touched the previous day. The index had cleared 3,000 points in Wall Street overnight before pulling back, as some traders returned to the New York Stock Exchange floor for the first time in two months.
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