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Big News Thursday July 20, 2017
Global stocks climb for ninth straight session as earnings season heats up in U.S. and EU
On Wednesday, world stocks climbed for a ninth straight session as the earnings season heated up in the U.S. and Europe. The dollar bounced modestly off 10-month lows and the S&P 500 and Nasdaq tallied intraday record highs in the U.S. The boost was triggered by strong performances by major European stock indexes, and the tech sector in both regions. MSCI's world stocks index looked set for a ninth day of gains following decent gains in Asia and positive signs from global economic powerhouse China specifically. This would mark its longest winning streak since October 2015. Meanwhile, the global index gained 0.40 percent, setting a record high for a fifth straight session. Bruce McCain, chief investment strategist at Key Private Bank in Cleveland, “In the U.S., the earnings season seems to be surprising a little bit on the upside. What we have seen recently in the economic reports suggests it should be even better overseas ... So we have come to the point where things looks pretty good in the U.S. and it looks even better in prospect overseas, so what’s not to like about equities." - Read more
Evans (US)
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