Global markets update: US stocks edge higher after producer inflation data
jobless benefits dropped 12,000 to a seasonally adjusted 237,000 for the week ended July 8, but overall the labor market remains tight. The 10-year treasury yield fell to 3.76% from 3.86% late Wednesday. The 2-year treasury yield fell to 4.63% from 4.75%.
The US dollar fell to 138.33 Japanese yen from 140.46. The euro rose to $1.1137 from $1.1000. Canada stocks rose on Thursday, led by gains in technology and financial shares. The Toronto Stock Exchange's S&P/TSX composite index ended up 206.87 points, or 1%, at 20,277.64. European shares ended higher on Thursday, led by technology stocks.
The pan-European STOXX 600 index ended 0.6% higher. Britain's FTSE 100 gained 0.3% at 7,440.21. Germany’s DAX added 0.7% at 16,141.03.
France’s CAC 40 added 0.5% at 7,369.80. Among the sectoral gainers, technology stocks jumped 1.7%. IT provider Softcat advanced 5.3% after Citi raised its stock rating to "buy".
Miners rose 1.7%, as commodity prices increased on a weaker dollar. Britain's economy shrank less than expected in May. Swatch shares rose 6.9% after the watchmaker reported record growth in the first half of the year.
Asian equities advanced on Thursday. Hong Kong’s Hang Seng index climbed 2.6% at 19,350.62. China’s Shanghai Composite added 1.3% at 3,236.48.
Japan’s Nikkei 225 rose 1.5% at 32,419.33. Australia’s S&P/ASX 200 index rose 1.6% to close at 7,246.9 points. New Zealand's benchmark S&P/NZX 50 index advanced 0.9% to 12,013.43.
US crude oil benchmark for August delivery rose 92 cents to $75.75 a barrel on Wednesday. Brent crude for September delivery rose 71 cents to $80.11 a barrel. Natural gas for August delivery fell 10 cents to $2.63 per 1,000 cubic feet.
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