The equity market rally continued in Asia for a 3rd day, amid speculation that new stimulus plans will be announced shortly. The Nikkei and Kospi both advanced .9% to 8881 and 1903 respectively. The ASX 200 rose .5% to 4313, the Shanghai Composite inched up .2% to 2161, while the Hang Seng ended fractionally lower.
European markets settle mixed, as the CAC40 slipped .4%, the FTSE rose .1%, while the DAX ended flat. The Bank of England cut its growth outlook for the British economy from .7% to flat for the year.
US stocks traded mixed as well. The Dow rose for a 4th straight session, inching up 7 points to 13176. The S&P 500 ticked up 1 points to 1402, while the Nasdaq eased .2% to 3011.
Research in Motions shares jumped 4.2% on news the company may license its Blackberry platform to Samsung.
Currencies
The US Dollar traded mixed on Wednesday. The Pound edged up .2% to 1.5653, and the Canadian Dollar rose .2% to .9948. The Euro and Swiss Franc slipped .3% to 1.2358 and .9719 respectively. The Yen rose .2% to 78.46.
Economic Outlook
Labor costs blew past forecasts, rising 1.7% versus forecasts for a .5% gain.
Thursday’s reports will include weekly unemployment claims, trade balance, and wholesale inventories.
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Dow Rises for 4th Straight Day, UK Cuts Growth Outlook
Published 08/09/2012, 05:44 AM
Updated 05/14/2017, 06:45 AM
Dow Rises for 4th Straight Day, UK Cuts Growth Outlook
Equities
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