Wall Street hits new record highs

The Myanmar Times - - International Business -

US stocks jumped to fresh records on Au­gust 15 be­hind stronger oil prices, while Euro­pean mar­kets were lit­tle changed. All three ma­jor US in­dices pushed to fresh records for the sec­ond time in three ses­sions. Prior to Au­gust 11, that feat had not been ac­com­plished in more than 16 years.

Wall Street stocks have been pro­pelled to fresh records by the com­par­a­tive strength of the US econ­omy, cou­pled with ex­pec­ta­tions of ac­com­moda­tive mon­e­tary pol­icy, in­clud­ing very low in­ter­est rates set by the Fed­eral Re­serve.

An­a­lysts said the Au­gust 15 records were largely due to pos­i­tive mo­men­tum, on a light day as far as eco­nomic re­ports and earn­ings.

Be­sides en­ergy eq­ui­ties, which were boosted by higher oil prices, sec­tors with big gains in­cluded in­dus­tri­als, fi­nan­cials and ma­te­ri­als.

Lon­don and Frank­furt saw small gains while Paris was nearly flat in the ab­sence of ma­jor Euro­pean data and with trad­ing sub­dued on an of­fi­cial hol­i­day in France and parts of Ger­many. –

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