قالب وردپرس درنا توس
Home / Business / US stocks climb as Wall Street risks appetite

US stocks climb as Wall Street risks appetite



U.S. stocks jumped back on Friday, following an unstable week, as potential stimulus measures in Europe triggered an increase in Wall Street's risk appetite.

Markets expected the European Central Bank to cut interest rates in September and resume a bond buying program, according to Reuters.

MORE FROM FOXBUSINESS.COM

The main European markets traded higher.

Add Mexico as the last country to cut interest rates overnight.

Deere & Co., which boomed on a quarterly estimate, said it began a review of costs in an effort to reduce spending and raise the bottom line. Investors rewarded the company by bidding on their shares.

General Electric shares rose when CEO Larry Culp bought nearly $ 2 million a day after listing his biggest one-day percentage decline in 1

1 years.

Nvidia shares jumped after quarterly profits and revenues topped expectations.

On the economic front on Friday, the Department of Commerce said US home construction fell for a third straight month in July amid a steep decline in multi-family housing construction, but the permits increased creating optimism. Housing starts fell 4 percent to a seasonally adjusted annual interest rate of 1.191 million units last month. [1965901] Ticker Security Last Change % Chg DE DEERE & COMPANY [19659017] 149.05 +5.34 + 3.72% GE GENERAL ELECTRICAL COMPANY 8.68 +0.67 + 8.30% NVDA NVIDIA CORPORATION ] 159.02 +10.25 + 6.89% [196590] Investors have been whiplash this week following the US yield curve – the difference between interest rates on US 10-year and 2-year government bonds – reversed for the US for the first time since 2007. Historically, this has been an accurate predictor of an upcoming recession.

The major US stock indices spent much of the day responding to large moves in US government bond yields, which fell sharply early, fluctuating for much of the day, and then recovering some of their decline by mid-afternoon.

Shares are up more than 2.4 percent this week and are on course for their third losing week in a row.

The U.S.-China trade war has hampered US manufacturers and roiled global financial markets with fears that the world's largest economy could slip into a recession. Still, most analysts expect the US economy to power through the rough patch, at least in the coming months, on the strength of solid consumer spending and a resilient labor market.

CLICK HERE TO READ MORE ON FOX BUSINESS

Japan's Nikkei rebounded from early losses to gain 0.1 percent, Hong Kong's Hang Seng added 0.9 percent and China's Shanghai Composite received 0.3 percent.

The Associated Press contributed to this article.


Source link