Monday, September 13, 2010

20100913 1213 Global Market News.

GLOBAL MARKETS: U.S. data spurs risk appetite, hurts bonds
NEW YORK, Sept 9 (Reuters) - Stocks rose and bonds fell on Thursday after stronger-than-expected U.S. data on jobless benefits and trade, raising hopes the tepid economic recovery would accelerate.
"The economic numbers in the last week or so have been able to beat expectations, so that's providing some confidence that the third quarter will finish firm."

U.S. data shows economic recovery still on track
WASHINGTON, Sept 9 (Reuters) - New U.S. claims for unemployment benefits fell more than expected last week to a two-month low, while the trade deficit narrowed sharply in July, hopeful signs for the stuttering economic recovery.
The data on Thursday helped to calm fears of a sharp slowdown in growth and implied the economy could start working its way out of a soft patch.

China's imports leap, cutting trade surplus
BEIJING, Sept 10 (Reuters) - China's imports leapt in August, boding well for a strengthening of domestic demand in an economy that has become a major driver of global growth.
The unexpectedly big increase in imports also dented China's politically contentious trade surplus ahead of U.S. Congressional hearings next week on whether to punish Beijing for what many in Washington see as an unfairly undervalued yuan.

Stocks hurt by bank worries after Deutsche report
LONDON, Sept 10 (Reuters) - Global stocks were pressured by concerns over banks ahead of a meeting to finalise European capital rules at the weekend, while brighter U.S. and Chinese data hurt the safe-haven appeal of the Swiss franc and yen.
"The bulls and bears have knocked each other senseless and are lying in the corner. The bulls are waiting for employment growth and the bears are waiting for European problems to blow up," John Haynes, head of research at Rensburg Sheppards, said.

No comments: