Wall Street Sees Biggest Daily Gain for Four Years, Barclays Shares Rise After US Lawsuit Dismissed
August 27, 2015 6:34 am
Both US and Asian stocks closed in positive territory, with Wall St posting its biggest daily gain in four years, as a lift in Chinese shares calmed investors fears, whilst FOMC Member and President of the New York Federal Reserve William Dudley cooled expectations of a rate rise next month, boosting markets. The Dow climbed 619 points to close at 16,285 and the S&P500 rose 3 points to close at 1,940.
The Euro is trading about 0.1% higher against USD at $1.1327 after shedding 1.7% overnight, knocked further away from a seven-month peak of $1.1715 scaled on Monday. Against the Japanese currency, USD bought 120.16 Yen, up 0.2%, recovering from a seven-month low of 116.15 touched on Monday.
U.S. crude futures rose 2.3% to $39.50 a barrel. The commodity had collapsed to a 6-1/2-year low on Monday, hit by supply glut woes and worries of a slowdown in China’s economy; whilst Brent added 2.4% to $44.16. Gold suffered its biggest fall in five weeks overnight as the Dollar rebounded and U.S. stocks rallied, rising by 0.3% to $1,127.50 an ounce.
Within the equity space, Barclays on Wednesday won the dismissal of US litigation in which pension funds and other investors had accused them of rigging markets to benefit high-frequency traders. Barclays stock opened 3% higher at 260p per share.
Both US and Asian stocks closed in positive territory, with Wall St posting its biggest daily gain in four years, as a lift in Chinese shares calmed investors fears, whilst FOMC Member and President of the New York Federal Reserve William Dudley cooled expectations of a rate rise next month, boosting markets. The Dow climbed 619 points to close at 16,285 and the S&P500 rose 3 points to close at 1,940.
The Euro is trading about 0.1% higher against USD at $1.1327 after shedding 1.7% overnight, knocked further away from a seven-month peak of $1.1715 scaled on Monday. Against the Japanese currency, USD bought 120.16 Yen, up 0.2%, recovering from a seven-month low of 116.15 touched on Monday.
U.S. crude futures rose 2.3% to $39.50 a barrel. The commodity had collapsed to a 6-1/2-year low on Monday, hit by supply glut woes and worries of a slowdown in China’s economy; whilst Brent added 2.4% to $44.16. Gold suffered its biggest fall in five weeks overnight as the Dollar rebounded and U.S. stocks rallied, rising by 0.3% to $1,127.50 an ounce.
Within the equity space, Barclays on Wednesday won the dismissal of US litigation in which pension funds and other investors had accused them of rigging markets to benefit high-frequency traders. Barclays stock opened 3% higher at 260p per share.
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