© Reuters.
Investing.com – US equities rose for a second consecutive session of strong gains as gold and oil continued to drive strongly to their highest levels in more than a month.
The marathon of market rally coincided with a continued decline from its peak, during which it reached its highest levels in more than 20 years, amid expectations that the Federal Reserve and central banks will shift towards a relative easing of the market. monetary policy.
A United Nations agency said the US Federal Reserve and other central banks risked pushing the global economy into a recession, which could be followed by a prolonged depression if interest rates continue to raise.
The warning comes amid growing concern over the haste in which the Fed and other global central banks are raising borrowing costs to contain rising inflation.
Wall Street investor sentiment improved as US Treasury yields fell, as the 10-year bond yield fell to 3.65%, after hitting 4% last week, coinciding with the fall in the 10-year bond yield. dollar.
Wall Street
It has now increased by 730 points, or 2.5%, to levels of 30,210 points
Tech stocks are now up 360 points, or 3.3%, to 11,170 points
The Standard & Poor’s 500 index jumped 2.9%, or 110 points, to 3785 points.
gold
The yellow metal futures contract rose to its highest level in nearly a month, reaching levels close to $ 1725 an ounce, an increase of 1.3 percent, or the equivalent of $ 23 an ounce.
On the other hand, spot gold contracts, the US dollar, jumped in these trading moments today, Tuesday, to levels close to $ 1,719 an ounce, with an increase of about $ 19, or the equivalent. 1.1%.
dollar
The dollar index fell during these trading times today, Tuesday, to its lowest level since Sept. 21, to drop off 111-point levels, down to 110.65-point levels, down 1.1%. .
On the other hand, the 10-year yield has dropped from the 14-year peak of the highest 4% to 3.58% during these trading moments today, Tuesday.
It rose 1.3% to 0.995 levels, close to reaching parity price again, while the pound rose 0.9% to 1.142 levels and the yen jumped 0.2% to 144 levels. , 8.
oil
The dollar index was buoyed down by falling oil purchase cost and lower transportation and insurance costs, coinciding with expectations on OPEC + direction to implement the largest production cut in more than two. years.
It rose more than 3% today, after rising more than 5% yesterday, to reach the highest level in more than three weeks.
The record jumped in these trading moments today, Tuesday, by more than 2.7%, or the equivalent of $ 2.5 a barrel, surpassing levels of $ 91.4 a barrel.
US light crude NYMEX rose during these trading times today, Tuesday, by more than 2.5%, or the equivalent of $ 2.2 a barrel, to reach levels close to $ 86 a barrel.
