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U.S. stocks end higher; oil shares boosted by hurricane

26 Août 2017

Although there are slim chances for policy announcements, investors will scrutinize Yellen's speech for more clarity on the timing of the Fed's unwinding of its massive bond holdings and if a third interest rate hike this year is on the cards. Earlier, the MSCI index of Asia-Pacific shares outside Japan also rose, shaking off jitters that shook markets after President Donald Trump threatened to shut down the U.S. government and end the North American Free Trade Agreement.

MSCI's index of stocks across the globe .MIWD00000PUS rose 0.26 percent and its index of emerging market stocks .MSCIEF rose 0.27 percent.

Draghi's speech comes ahead of the ECB's latest economic growth and inflation forecasts, due to be published following the central bank's September meeting. Sentiment is likely to be upbeat as investors await Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi to speak at the central bankers' symposium in Jackson Hole which kicked off yesterday. Many analysts expect the European Central Bank to decide to begin a gradual reduction in the size of the monthly bond purchases, perhaps beginning next year. President Donald Trump again used Twitter to fuel the debate on legislation to keep the USA government open next month.

-Yellen is scheduled to discuss financial stability at 10 a.m.

Twitter lost 1.66 percent after Jefferies cut rating and price target on the stock. The index gained 0.5% the previous day.

Gold for December delivery GCZ7, +0.35% rose $5.90, or 0.5%, to settle at $1,297.90 an ounce after tapping highs above $1,300 overnight.

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When I looked down at the dashboard, the indicated remaining range had abruptly changed to nine miles. That in turn could lead to an incorrect reading of remaining battery range available.

About 4.81 billion shares changed hands in United States exchanges, well below the 6.02 billion daily average over the last 20 sessions. Last week, the greenback dipped to a four-month low against the yen, trading at 108.60 yen.

-The euro dropped 0.1 percent at $1.801.

-The Japanese yen fell 0.5 percent to 109.57 per dollar. The euro had a downward trending week and is now sitting near weekly lows of $1.4769.

"His responses during the Q&A were more closely related to the outlook for the euro area, but stuck to the familiar narrative of weak inflation necessitating ongoing monetary accommodation", economists Jamie Murray and Niraj Shah wrote in a Bloomberg Intelligence analysis.

Yellen noted that, a decade ago, the USA financial system was "a risky place" - citing a peak in the price of housing and strains caused by the subprime mortgage market, which led to the deterioration of money markets and the imposition of new regulations on banks.

-Britain's 10-year yield fell one basis point to 1.05 percent, lowest since June.

U.S. stocks end higher; oil shares boosted by hurricane