© Reuters. Men look at stock prices in Tokyo before a brokerage
By Trevor Hunnicutt
(Reuters) – Stock and oil prices rallied on Wednesday as the Trump government tried to shore up confidence and markets welcomed a report Strong US Vacation Spending
The MSCI equity index gained 0.22 percent globally, while futures recently stood at $ 52.42, an increase of 3.86 percent.
Oil and stock benchmarks hit dizziness in a bear market for more than a year on Monday, despite the fact that a quiet trading week is usually shortened, which is shortened by the Christmas holidays. The markets in the UK, Germany and France were closed on Wednesday.
Kevin Hassett, chairman of the White House Advisory Council, said Wednesday that US Federal Reserve Chairman Jerome Powell was not in danger. President Donald Trump described the Fed as "the only problem of our economy" in just two days as the central bank raises interest rates.
Investors were worried about the potential for slower economic growth, exacerbated by a partial closure of the US Federal Government. Trump blamed the Fed primarily for the economic headwind and openly criticized the chairman he had appointed.
US. Treasury Secretary Steven Mnuchin has also voiced concerns about the market by calling a crisis group in light of the sharp pullback of stocks.
One economist said the Fed is calming the markets.
"In the end, we believe the Fed will do it The only presence able to end the current confusion in the markets," said Kenta Inoue, senior market economist at Mitsubishi UFJ Morgan Stanley [1
Investors welcomed the news that during the US shopping season in 2018, sales increased 5.1 percent to over $ 850 billion. This is the strongest in the six years, according to a report by Mastercard Inc. (NYSE), as buyers were supported by a robust economy and early rebates.
The increase of 234.5 points or 1.08 percent to 22,026.7, the S & P 500 rose 29.11 points or 1.24 percent to 2,380.21 and the additional 112,71 points or 1, 82 percent to 6,305.63. ()
The softening of risks in recent weeks has been a boon to US government bonds. On Wednesday, short-dated bonds, which benefit from a looser Fed policy, rose in price, while longer inflation-sensitive bonds and risk appetite eased. The 2-year benchmark US government benchmark rose 2.555 percent last, while the 30-year bond narrowed 5/32 to hit 3.0101 percent. [US/]
"Breathe in these markets and corrective rebounds could follow," said Citigroup Inc. (NYSE) – Analysts Bill O & # 39; Donnell and Ed Acton in a note as investors respond to a tightening policy by the Fed and rising rates. "We believe that we will see the signs when sustainable trend reversals are established, and at the moment we do not see any of these signs." Meanwhile, risk aided by the Japanese yen against the US dollar for eight series trading sessions lost some steam. The yen lost 0.05 percent against the greenback at $ 110.35 per dollar. [FRX/]
Gold continued to lure buyers into the uncertain market. Spot prices rose 0.8 percent to $ 1,278.50 per ounce, reaching a six-month high. [GOL/]