(Bloomberg) – Stocks soared as a solid housing report, worrying about a slow economic recovery without further stimulus. The dollar has risen.
The S&P 500 offset losses after data showed that new home sales in the US in the fourth month of August unexpectedly peaked in almost 14 years. Meanwhile, Senate Majority Leader Mitch McConnell said a transition of power would follow after the November 3 election. Earlier on Thursday, the benchmark gauge fell, wiping out its 2020 decline and slipping into a correction as applications for U.S. unemployment benefits changed slightly last week, contrary to expectations for a decline.
Some of the major movements in the markets are:
The S&P 500 was up 0.5% at 10:18 New York time. Stocks Europe 600 index down 0.7% .MSCI Asia Pacific index down 1.8%.
The Bloomberg Dollar Spot Index rose 0.2%. The euro fell 0.1% to 16 1.1645. The Japanese yen fell 0.1% to 105.45 against the dollar.
Yields on ten – year treasuries fell 0.67 percent to one basis point .Germany’s 10-year yields fell one –0.52 percent .Britain’s 10-year yields fell 0.211 percent.
West Texas Intermediate crude fell 0.1% to $ 39.89 a barrel. Gold traded slightly lower at 8 1,862.44. Silver fell 1.3% to $ 22.47 an ounce.
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