Wall Street Hits New Record Highs
Mohammad Ali (@ChaudhryMAli88) Published August 16, 2016 | 01:56 PM
NEW YORK, (APP - UrduPoint / Pakistan Point News - 16th Augst,2016) - US stocks jumped to fresh records Monday behind stronger oil prices, while European markets were little changed. All three major US indices pushed to fresh records for the second time in three sessions.
Prior to last Thursday, that feat had not been accomplished in more than 16 years. Wall Street stocks have been propelled to fresh records by the comparative strength of the US economy, coupled with expectations of accommodative monetary policy, including very-low interest rates set by the Federal Reserve.
Analysts said Monday's records were largely due to positive momentum, on a light day as far as major economic reports and earnings.
Besides energy equities, which were boosted by higher oil prices, sectors with outsized gains included industrials, financials and materials. "It's a very low-volume month with not a lot of data out there, and so it's sort like a self-fulfilling momentum," said Sam Stovall of S&P Global Intelligence.
Recent Stories
Four terrorists involved in suicide attack on Chinese in Besham arrested
SIC chief asks PTI leaders to resign from assemblies
Pakistan working tirelessly to eradicate polio from country: PM
IHC Justice Sattar dismisses pleas moved by FIA, PEMRA and PTA in audio leaks ca ..
Gillespie, Kirsten feature in 48th edition of PCB Podcast
Security forces kill four terrorists in Tank
Fake immoral video of Ducky Bhai's wife goes on viral on social media
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 29 April 2024
Today Gold Rate in Pakistan 29 April 2024
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 April 2024
Today Gold Rate in Pakistan 28 April 2024
Fresh wave of rainfall in AJK continues for the second consecutive day
More Stories From World
-
Red Cross finances 'stabilised', new chief says
20 seconds ago -
Pedro Sanchez, a risk-taker with a flair for survival
24 seconds ago -
Bangladesh again closes schools nationwide due to heatwave
29 seconds ago -
Last chance for global pandemic agreement talks
21 minutes ago -
Iran slams crackdown on US student protesters
30 minutes ago -
Dozens killed as dam bursts in flood-hit Kenya
40 minutes ago
-
Brunson sets Knicks record with 47 to lead New York over 76ers
40 minutes ago -
Filipino farmers struggle as drought and heatwave hits
1 hour ago -
Spain's Sanchez says he will not resign as PM
1 hour ago -
President Xi to visit France, Serbia, Hungary from May 5
1 hour ago -
Burkina Faso suspends more foreign news media over massacre reports
1 hour ago -
With motorbikes banned, Yangon delivery riders struggle in heatwave
2 hours ago