⚡️Global Stocks Hit Record Levels Boosted By Chinese Stimulus And Lower US Inflation
📊STOXX 600 index in Europe rose 0.5%, while DAX, CAC 40 and FTSE 100 indices rose 0.3-1.2%. S&P 500 is also up after hitting a record on Thursday. PCE index showed a further decline in inflation pressures in August, which increased expectations of a second US Federal Reserve rate cut by 50 basis points in November.
💵USD fell 1.5% to 142.60 yen after Shigeru Ishiba won the election as Japan's prime minister. Ishiba supports the normalization of the Bank of Japan's policies.
💸Shares in China rose on stimulus, posting their best week since 2008, with the MSCI world index up 0.4%, Chinese blue chips up 4.5% and the Hang Seng index up 3.6%. China's central bank has cut interest rates and injected liquidity into the banking system, with more fiscal measures expected to be announced before China's week-long holiday starting Oct. 1.
🛢Oil prices fell 0.1% to $71.50 a barrel following news of Saudi Arabia's plans to increase production.
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📊STOXX 600 index in Europe rose 0.5%, while DAX, CAC 40 and FTSE 100 indices rose 0.3-1.2%. S&P 500 is also up after hitting a record on Thursday. PCE index showed a further decline in inflation pressures in August, which increased expectations of a second US Federal Reserve rate cut by 50 basis points in November.
💵USD fell 1.5% to 142.60 yen after Shigeru Ishiba won the election as Japan's prime minister. Ishiba supports the normalization of the Bank of Japan's policies.
💸Shares in China rose on stimulus, posting their best week since 2008, with the MSCI world index up 0.4%, Chinese blue chips up 4.5% and the Hang Seng index up 3.6%. China's central bank has cut interest rates and injected liquidity into the banking system, with more fiscal measures expected to be announced before China's week-long holiday starting Oct. 1.
🛢Oil prices fell 0.1% to $71.50 a barrel following news of Saudi Arabia's plans to increase production.
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