The Prague Post - US stocks back at records as oil prices rally

EUR -
AED 4.333338
AFN 82.488788
ALL 97.919392
AMD 452.497189
ANG 2.111652
AOA 1082.007258
ARS 1450.456918
AUD 1.792982
AWG 2.123897
AZN 2.02147
BAM 1.955788
BBD 2.375985
BDT 143.919106
BGN 1.956105
BHD 0.44478
BIF 3505.448513
BMD 1.179943
BND 1.498978
BOB 8.130949
BRL 6.404491
BSD 1.176793
BTN 100.814374
BWP 15.616903
BYN 3.850976
BYR 23126.87632
BZD 2.363685
CAD 1.603218
CDF 3404.135317
CHF 0.934108
CLF 0.028481
CLP 1092.933864
CNY 8.454762
CNH 8.450832
COP 4708.856208
CRC 594.496307
CUC 1.179943
CUP 31.268481
CVE 110.264315
CZK 24.661942
DJF 209.548698
DKK 7.461621
DOP 69.929566
DZD 153.021112
EGP 58.232132
ERN 17.69914
ETB 162.332791
FJD 2.634456
FKP 0.859862
GBP 0.864533
GEL 3.208952
GGP 0.859862
GHS 12.178924
GIP 0.859862
GMD 84.366183
GNF 10200.850173
GTQ 9.047944
GYD 246.188471
HKD 9.262379
HNL 30.754809
HRK 7.532281
HTG 154.447732
HUF 400.168706
IDR 19117.726115
ILS 3.978419
IMP 0.859862
INR 101.117488
IQD 1541.490423
IRR 49705.085054
ISK 142.796388
JEP 0.859862
JMD 188.118831
JOD 0.836568
JPY 169.379577
KES 152.342203
KGS 103.186229
KHR 4722.930631
KMF 493.215954
KPW 1061.93069
KRW 1598.851788
KWD 0.360024
KYD 0.980694
KZT 610.246209
LAK 25360.842441
LBP 105436.144957
LKR 352.937807
LRD 235.938534
LSL 20.788071
LTL 3.484064
LVL 0.713735
LYD 6.336961
MAD 10.578034
MDL 19.774877
MGA 5179.967818
MKD 61.514191
MMK 2476.982156
MNT 4227.965591
MOP 9.514841
MRU 46.74571
MUR 52.826342
MVR 18.159741
MWK 2040.587322
MXN 22.160151
MYR 4.979302
MZN 75.468973
NAD 20.788071
NGN 1804.012516
NIO 43.299364
NOK 11.874849
NPR 161.302998
NZD 1.937879
OMR 0.45363
PAB 1.176693
PEN 4.190974
PGK 4.856929
PHP 66.649052
PKR 335.665815
PLN 4.263436
PYG 9385.941688
QAR 4.290273
RON 5.062664
RSD 117.131258
RUB 93.126194
RWF 1690.389498
SAR 4.425104
SBD 9.837093
SCR 16.600756
SDG 708.560496
SEK 11.232145
SGD 1.501855
SHP 0.92725
SLE 26.48955
SLL 24742.812129
SOS 672.495822
SRD 44.064985
STD 24422.430961
SVC 10.296936
SYP 15341.454619
SZL 20.783871
THB 38.182569
TJS 11.508529
TMT 4.141599
TND 3.425779
TOP 2.763547
TRY 47.08113
TTD 7.97995
TWD 34.20075
TZS 3105.065121
UAH 49.134895
UGX 4220.973776
USD 1.179943
UYU 46.559711
UZS 14916.907326
VES 129.172456
VND 30879.099658
VUV 140.679661
WST 3.224778
XAF 655.952925
XAG 0.032415
XAU 0.000353
XCD 3.188854
XDR 0.815795
XOF 655.952925
XPF 119.331742
YER 285.723507
ZAR 20.724277
ZMK 10620.902842
ZMW 28.273824
ZWL 379.941058
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

US stocks back at records as oil prices rally
US stocks back at records as oil prices rally / Photo: Alex WROBLEWSKI - AFP

US stocks back at records as oil prices rally

Major US stock indices closed at fresh records Wednesday following a US-Vietnam trade deal, while oil prices jumped after Iran suspended cooperation with the UN nuclear watchdog.

Text size:

Both the S&P 500 and Nasdaq finished at records for the third time in four days after Trump reached an accord with Vietnam.

"Little by little, we are coming to agreements," said Sam Stovall of CFRA Research. This "should be regarded as positive."

The Vietnam announcement bolsters hopes about additional US trade accords and helped offset a report that showed private-sector US employers shed 33,000 jobs in June.

The strong performance in US stocks also came in spite of a rise in US Treasury yields that suggests unease in the bond market as Congress weighs Trump's massive tax and spending package that has been projected to swell US debt.

Optimism over the bill's extension of deep tax cuts has been offset by concerns it will add around $3 trillion to the US national debt.

"It's driven a wedge between stocks and bonds," said Jack Ablin of Cresset Capital Management. "Equity markets are applauding the tax cuts... bond markets are concerned about the long-term effects."

In Europe, London's FTSE 100 ended the day down 0.1 percent and the pound lost around one percent against the dollar on speculation over the future of British finance minister Rachel Reeves.

Reeves appeared visibly upset in parliament a day after Prime Minister Keir Starmer's Labour government U-turned over key welfare reforms, wiping out a multibillion-pound boost to public finances and triggering speculation that she could lose her job.

"The prospect of political turmoil is causing bond yields to rise. The market is pricing in the possibility of a replacement chancellor with a more left-leaning agenda, which is spooking the bond market and waking up the bond vigilantes from their slumber," said Kathleen Brooks, research director at XTB.

Brooks added that axing Reeves would be "a strange choice" from a market perspective.

Oil prices jumped about three percent as analysts cited a revived chance of fighting between Iran and Israel.

On June 25, a day after a ceasefire took hold between the two countries, Iranian lawmakers voted overwhelmingly to suspend cooperation with the Vienna-based IAEA. State media confirmed on Wednesday the legislation had now taken effect.

Washington, which has been pressing Tehran to resume the negotiations that were interrupted by Israel's military action on June 13, said the Iranian decision was "unacceptable."

"We'll use the word unacceptable, that Iran chose to suspend cooperation with the IAEA at a time when it has a window of opportunity to reverse course and choose a path of peace and prosperity," State Department spokeswoman Tammy Bruce said.

- Key figures at around 2040 GMT -

New York - Dow: FLAT at 44,484.42 (close)

New York - S&P 500: UP 0.5 percent at 6,227.42 (close)

New York - Nasdaq: UP 0.9 percent at 20,393.13 (close)

London - FTSE 100: DOWN 0.1 percent at 8,774.69 (close)

Paris - CAC 40: UP 1.0 percent at 7,738.42 (close)

Frankfurt - DAX: UP 0.5 percent at 23,790.11 (close)

Tokyo - Nikkei 225: DOWN 0.6 percent at 39,762.48 (close)

Hong Kong - Hang Seng Index: UP 0.6 percent at 24,221.41 (close)

Shanghai - Composite: DOWN 0.1 percent at 3,454.79 (close)

Euro/dollar: DOWN at $1.1801 from $1.1806 on Tuesday

Pound/dollar: DOWN at $1.3634 from $1.3746

Dollar/yen: UP at 143.65 yen from 143.42 yen

Euro/pound: UP at 86.52 pence from 85.88 pence

Brent North Sea Crude: UP 3.0 percent at $69.11 per barrel

West Texas Intermediate: UP 3.1 percent at $67.45 per barrel

burs-jmb/acb

F.Vit--TPP