Thursday, 17 May 2018

US stocks rise as 10-year yield slips from high@HIGHLIGHT INVESTMENT

US stocks advanced as consumer shares got a boost from Macy’s results and Treasuries rebounded from Tuesday’s selloff. The euro fell amid political uncertainty in Italy.

The S&P 500 index pushed above its average price for the past 100 days, with Macy’s results providing more insight into the strength of the American consumer. The 10-year note yield slipped from a seven-year hit after retail sales data bolstered bets the Federal Reserve may step up its tightening plans.

Europe’s common currency fell as Italy moved closer to a populist government and the German chancellor cautioned that the region’s central bank will eventually ease stimulus.

Emerging-market equities were slightly stronger following Tuesday’s plunge, but developing currencies turned lower. The Turkish lira reversed a drop after the central bank said it was monitoring markets and would take necessary steps.

In Asia, stocks nudged lower, with shares in Japan and Hong Kong declining while Australia’s main gauge eked out a gain and Korean stocks were little changed. The Malaysian ringgit fell for a sixth day.

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