© Reuters. FILEPHOTO: January 6, 2021, in Lujiazui Financial District, Shanghai, China, a man standing on an elevated platform with an electronic board showing the stock indexes of Shanghai and Shenzhen. REUTERS / Aly Song // File Photo
New York (Reuters)-European leaders sought further sanctions against Moscow following allegations of war crimes in Ukraine, leading the rise in global index stock prices on Monday and Nasdaq leading the rise on Wall Street.
Investors were closely watching the yield curve between US 2-year and 10-year bonds. This was reversed last week with a signal to some market watchers that the recession could continue in a year or two.
Further sanctions on Russia will intensify already enormous economic pressure on Russia over its invasion of Ukraine.
Russia maintained gas flow through major pipeline routes to Europe, despite uncertainties in payment terms.
Investors are pursuing greenback safety as sanctions are expected to increase, and the dollar has risen three times in a row.
“The dollar is skyrocketing as geopolitical developments have darkened the global economic cloud,” said Joe Manimbo, senior market analyst at. Western Union (NYSE 🙂 Washington Business Solutions Kremlin denied accusations related to the killing of civilians in Ukraine.
The US currency also continued to benefit from the March report of strong non-farm payrolls, supporting expectations of a half-percentage rate hike by the Federal Reserve at its meeting next month.
The increase was 0.245%.
The euro, which was under pressure from concerns about the economic damage caused by the war in Ukraine, fell 0.6% against the dollar to $ 1.0988. The euro fell to a six-day low against the pound sterling and finally fell 0.6%. 83.73 pence.
News that Elon Musk, CEO of Tesla (NASDAQ 🙂 Inc, has acquired a 9.2% stake on Wall Street Twitter Inc (NYSE 🙂 In the spotlight, Twitter’s share has skyrocketed.
It decreased by 3.76 points (0.01%) to 34,814.51, increased by 21.62 points (0.48%) to 4,567.48, and added 213.94 points (1.5%) to 14,475.44.
The Pan-European Index rose 0.93% and MSCI’s global share price rose 0.65%.
In the US Treasury market, the 2-year yield was 2.44%, while the benchmark 10-year yield was 2.41%.
The recent surge in US bond yields has boosted the US dollar, especially against the yen, given the Bank of Japan’s repeated actions last week to keep bond yields near zero.
On the US economic side, the Commerce Department said factory orders fell 0.5% in February. January data has been revised slightly higher to increase 1.5% from the previously reported 1.4%. Economists surveyed by Reuters predicted that factory orders would decline by 0.5. %.
Oil surged by more than 3% as the release of strategic stockpiles by consuming countries failed to eliminate supply concerns arising from Russia’s invasion of Ukraine and the lack of Iran’s nuclear trade.
It recently rose 3.52% to $ 102.76 per barrel and rose 3.06% to $ 107.58 on the day.
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