{"id":112852,"date":"2021-04-26T10:15:00","date_gmt":"2021-04-26T10:15:00","guid":{"rendered":"https:\/\/fin2me.com\/?p=112852"},"modified":"2021-04-26T10:15:00","modified_gmt":"2021-04-26T10:15:00","slug":"stocks-start-week-in-upbeat-mood-as-recovery-bets-dominate","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/stocks-start-week-in-upbeat-mood-as-recovery-bets-dominate\/","title":{"rendered":"Stocks start week in upbeat mood as recovery bets dominate"},"content":{"rendered":"

LONDON (Reuters) – European stocks clawed their way higher on Monday as world markets began the week in a relatively upbeat mood following further signs last week that economies are recovering rapidly.<\/p>

FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS\/Toby Melville<\/figcaption>

The start to the week was relatively quiet, however, as investors refrain from taking on large positions ahead of a two-day Federal Reserve meeting beginning on Tuesday and quarterly gross domestic product numbers for the United States.<\/p>\n

But the general sentiment remained bullish with Wall Street hitting another intraday record-high on Friday and European shares not far off record highs in early Monday trading.<\/p>\n

The broader Euro STOXX 600 gained 0.23% while Germany\u2019s DAX rose 0.22%. Britain\u2019s FTSE 100 climbed 0.21%.<\/p>\n

Asian shares also rallied where MSCI\u2019s broadest index of Asia-Pacific shares outside Japan reached its highest since March 18, despite a late sell-off in Chinese shares.<\/p>\n

Wall Street futures pointed to a slightly weaker open.<\/p>\n

The MSCI world equity index, which tracks shares in 49 countries, rose 0.2%.<\/p>\n

Stocks are basking in a massive rally – the MSCI world index has suffered only three down months in the past 12 and is up nearly 5% this month and 9% for the year as investors bet on a rapid post-pandemic economic rebound turbocharged by vast government and central bank stimulus.<\/p>\n

Analysts, however, say stocks look a little too confident and that the rally will run into hurdles after setting such a lightning pace and with so much of the recovery and fiscal stimulus splurge already priced in.<\/p>\n

\u201cThe real crux of the issue, however, is what\u2019s in the price. The year-to-date rally has increasingly eliminated upside to our targets,\u201d noted Andrew Sheets, a strategist at Morgan Stanley.<\/p>\n

\u201cAcross four major global equity markets (the U.S., Europe, Japan and emerging markets), only Japan is currently below our end-2021 strategy forecast.\u201d<\/p>\n

BOLSTER CONFIDENCE<\/h2>\n

Still, recent data pointing to a solid global economic recovery has only served to bolster confidence. Strong corporate earnings and the continued rollout of COVID-19 vaccinations in developed economies have also supported sentiment.<\/p>\n

Early April manufacturing activity indicators out last week pointed to a robust start to the second quarter with data hitting record highs in the United States and signalling an end to Europe\u2019s double-dip recession.<\/p>\n

First-quarter U.S. gross domestic product data due later in the week is likely to show activity probably returned to pre-pandemic levels, analysts said.<\/p>\n

\u201cWe estimate that the economy will close the output gap and rise above potential in the second half of this year,\u201d ANZ economists wrote in a morning note, suggesting more upside for shares.<\/p>\n

\u201c(Europe) cannot match this, but as 2021 progresses into 2022, the growth differential to the U.S. will narrow,\u201d they added.<\/p>\n

In bond markets, government debt yields rose as investors dumped safer assets.<\/p>\n

The U.S. 10-year Treasury yield rose 1 basis point to 1.5773% but that is some way off the plus 1.7% levels hit earlier this month when fears about a spike in inflation rattled markets.<\/p>\n

In currencies, the dollar — which had benefited from rising Treasury yields – fell against a basket of currencies to its weakest since early March — another sign of the bullish mood of global investors this month.<\/p>\n

Turkey\u2019s lira edged lower, adding to a recent slide and nearing an all-time low as a chill settled on relations with the United States and after the new central bank chief signalled that rate hikes would harm the economy.<\/p>\n

In commodities, U.S. crude fell 57 cents to $61.57 per barrel and Brent eased 57 cents to $65.64.<\/p>\n

Gold climbed 0.1% to $1,779 an ounce.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON (Reuters) – European stocks clawed their way higher on Monday as world markets began the week in a relatively upbeat mood following further signs […]<\/p>\n","protected":false},"author":3,"featured_media":112851,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nStocks start week in upbeat mood as recovery bets dominate - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/stocks-start-week-in-upbeat-mood-as-recovery-bets-dominate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stocks start week in upbeat mood as recovery bets dominate - Fin2me\" \/>\n<meta property=\"og:description\" content=\"LONDON (Reuters) – European stocks clawed their way higher on Monday as world markets began the week in a relatively upbeat mood following further signs [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/stocks-start-week-in-upbeat-mood-as-recovery-bets-dominate\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-26T10:15:00+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/04\/Stocks-start-week-in-upbeat-mood-as-recovery-bets-dominate.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/stocks-start-week-in-upbeat-mood-as-recovery-bets-dominate\/\",\"url\":\"https:\/\/fin2me.com\/business\/stocks-start-week-in-upbeat-mood-as-recovery-bets-dominate\/\",\"name\":\"Stocks start week in upbeat mood as recovery bets dominate - 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