By Herbert Lash
NEW YORK, Apr 1 (Reuters) – Global stocks rose on Thursday as benchmark stock indices for the United States and Europe hit new records thanks to the best global manufacturing data in decades and a decline in bond yields. that drove technological actions.
* US President Joe Biden’s $ 2.3 trillion plan to rebuild America’s ailing infrastructure added to the excitement of investors, as did the acceleration of vaccine distribution.
* The dollar fell from the almost three-year highs hit in the first quarter, while the price of crude rose amid versions of sources that indicated that the Organization of the Petroleum Exporting Countries and its allies decided to gradually ease the deep cuts in production since May.
* Asian markets closed with a final boost that lifted Chinese stocks 1.2%, while the European STOXX 600 bypassed new confinement orders from France and closed at all-time pre-COVID highs.
* The German DAX index hit new highs after the IHS Markit Manufacturing Purchasing Managers Index (PMI) showed eurozone factories growing at their fastest pace in the survey’s 24-year history.
* On Wall Street, the S&P 500 Index also hit a new high, surpassing the 4,000-point milestone after the Institute for Supply Management (ISM) said its index of domestic manufacturing activity rose to its highest in over 37 years in March.
* There are multiple tailwinds – stimulus, record earnings expectations, vaccines – that are driving stocks up, said King Lip, chief investment strategist at Baker Avenue Asset Management in San Francisco.
* “With the stimulus, the Fed’s commitment to caution, the reopening of the economy as more Americans get the vaccine, in general we are going to see that corporate profits are going to be very good,” he said.
* MSCI’s global equity benchmark improved 0.93% to 679.55 units, while the broad European FTSEurofirst 300 index closed 0.59% higher.
* At 1719 GMT on Wall Street, the Dow Jones Industrial Average was up 141.31 points, or 0.42%, at 33,119.26; the S&P 500 rose 38.48 points, or 0.96%, to 4,011.32 units; and the Nasdaq Composite added 205.18 points, or 1.55%, to 13,452.35 units.
* The dollar depreciated after a 3.5% improvement in the first quarter. The dollar index was down 0.295%, the euro rose 0.35% to $ 1.1769, and the yen added 0.13% to 110.55 units per dollar.
* Applications for unemployment benefits rose more than expected in the United States, driving down the return of Treasury bonds and flattening the curve, although they did not overshadow investors’ expectations in the face of the expected monthly employment report of the Friday.
* The 10-year benchmark debt dropped 7.1 basis points, to 1.6752%.
* In crude oil, Brent futures were up $ 1.63, or 2.6%, at $ 64.36 a barrel, and West Texas Intermediate in the United States (WTI) were up $ 1.77, or a 2.99%, at $ 60.93 a barrel.
Asset performance in the year http://tmsnrt.rs/2szi3CI
Exchange rates in the world http://tmsnrt.rs/2hzquG7
CHART: Emerging Markets http://tmsnrt.rs/2ihRugV
CHART: MSCI World Stock Index http://tmsnrt.rs/2EmTD6j
GRAPH: Bond Yields and Inflation in the US https://tmsnrt.rs/3rElOC9
CHART-Global stocks could get a boost in April after their comeback pause
GLOBAL ECONOMY-Manufacturing sector rebounds in Europe and Asia, but cost pressures increase
Biden proposes a $ 2 trillion investment plan for the US economy
OPEC + agrees to ease oil production cuts since May, sources say
SUMMARY-Weekly applications for unemployment benefits in the US rise more than expected
(Additional reporting by Marc Jones in London; edited in Spanish by Carlos Serrano)