Market Headlines 12/9/2017

US

  • The S&P 500 Index rose the most since April, gaining 1.1%, closing at a record high. The move came after hurricane Irma weakened and North Korea refrained from an expected missile test.
  • The yield on the US ten year rose to 2.14%, its biggest one day jump since January. Yields have come under pressure in the US recently due to decreased market rate hike expectations.
  • The dollar also gained yesterday with the EURUSD rate falling back below the $1.20 level.

 

Europe

  • European equities gained for a fourth day, rising 1.4%, the longest winning streak for the index since mid-July.
  • All 19 industry groups gained with insurance stocks leading the charge, rising 2.3%, after a weakened hurricane Irma helped relieve concerns.

 

Asia

  • Asian equities extended gains, with Japanese and Chinese equities rising 0.3% and 5.2% respectively. The move came after U.S. stocks rose to a record as Hurricane Irma wreaked less damage than forecast and the United Nations’ sanctions against North Korea weren’t as stringent as expected.

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