International Business: World stocks rally on upbeat Wall St earnings; oil, govt bond yields up – Gulf Digital News
International Business: World stocks rally on upbeat Wall St earnings; oil, govt bond yields up – Gulf Digital News
NEW YORK: Stocks rallied globally yesterday after a run of strong US corporate earnings reports fuelled optimism about the economy, though higher oil prices kept inflation risks alive and supported government bond yields.
US investment bank Goldman Sachs Group Inc was the latest on Wall Street to trounce market expectations when it reported a 66 per cent surge in third-quarter profit, thanks to a record wave of investment banking activity.
The Dow Jones Industrial Average rose 0.83pc, the S&P 500 gained 0.65pc, and the Nasdaq Composite added 0.49pc.
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