Reported 12 months ago
World equities increased as the U.S. dollar weakened following labor market data indicating the possibility of Federal Reserve interest rate cuts later in the year. The Labor Department reported a rise in initial jobless claims, suggesting a softening labor market. Despite the slowdown, expectations of rate cuts remained. Stock markets globally rose, with the S&P 500 and Nasdaq reaching record highs on the news. The dollar fell, and gold prices rose as a result. Oil prices also increased due to a larger-than-expected decline in U.S. crude stocks.
Source: YAHOO