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More encouraging news on inflation boosted US equities for a fourth consecutive session Thursday, with the S&P 500 Index and Nasdaq Composite posting fresh 15-month highs, as investors grow increasingly confident the Federal Reserve might soon close the book on its historically steep rate-hiking cycle of the past 16 months. Technology shares were among the strongest performers yesterday together with communication services, regional banks and oilfield services shares. Meantime, the US dollar sank to its weakest point against the euro since February 2022 on expectations US interest rates may have peaked. In Europe, equity markets extended their gains yesterday, with the Euro Stoxx 50 Index up another 0.7%, to end towards the highs for the year.
Summary for 14.07.2023
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