Previous close | 18,578.30 |
Open | 18,577.55 |
Volume |
Day's range | 18,411.02 - 18,638.81 |
52-week range | 14,794.16 - 20,361.03 |
Avg. volume | 2,732,297,521 |
A gauge of global stock markets rallied on Monday on optimism that major central banks will cut interest rates this year, while the yen weakened against the dollar after a surge last week from Japan's suspected currency intervention. Stocks on both sides of the Atlantic advanced, and in Asia too, as a softer-than-expected U.S. labor market report on Friday led traders to revive bets that the Federal Reserve would ease monetary policy as early as September. The dollar index, a measure of the U.S. currency against six major trading peers, was lower for a fourth straight session after Friday's data showed the lowest jobs gain since October calmed any angst that the Fed might even hike again.
A gauge of global stock markets rose on Monday on optimism that major central banks will cut interest rates this year, while the yen weakened against the dollar after a strong surge last week from Japan's suspected currency intervention. Philip Lane, Gediminas Simkus and Boris Vujcic said separately that the inflation and growth data cemented their belief that euro zone inflation, which was 2.4% in April, will slow to the central bank's 2% target by the middle of next year.
U.S. stocks looked to open higher on renewed bets that the Federal Reserve would likely ease interest rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention. Futures remained buoyant with the S&P 500 adding 0.3% and Nasdaq futures ticking up 0.2% each in a positive sign for the Wall Street open later on after Friday's U.S. nonfarm payrolls report reignited hopes of a soft landing for the U.S. economy. They also reinforced bets Fed rate cuts would most likely come this year, after Chair Jerome Powell also maintained the central bank's easing bias last week.