Overseas Trading: Yellen Sparks Global Stock Rally

Fed Chair Janet Yellen's comments yesterday on U.S. interest rate hikes have boosted stocks globally

by Alex Eppstein

Published on Jun 7, 2016 at 8:43 AM

Asian markets responded positively to Fed Chair Janet Yellen's remarks on the timing of the central bank's next rate hike. Higher commodity prices throughout the region also acted as a positive catalyst for stocks. In terms of the major benchmarks, Hong Kong's Hang Seng led the pack with a 1.4% gain.

Meanwhile, Japan's Nikkei added 0.6%, bolstered by a weaker yen that ushered some major Japanese exporters higher. South Korea's Kospi re-opened after holiday, and promptly tacked on 1.3%. Rounding things out, China's Shanghai Composite edged just 0.07% higher, as traders tread cautiously ahead of capital outflows data.

Yellen is boosting stocks across the pond, too, with European markets rallying. Also contributing to the tailwinds are an upwardly revised eurozone first-quarter gross domestic product (GDP) reading and a bounce in oil prices. At last check, London's FTSE 100 is up 0.4%, the French CAC 40 has advanced 1.3%, and Germany's DAX is 1.7% higher following a report that showed industrial production rose by a wider-than-expected margin in April.

overseas trading june 7b

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox. 


A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.
Wall Street Roars Higher Amid Civil Unrest
Investors weighed a mixed bag of jobs data
AstraZeneca Stock Flat Despite COVID-19 Vaccine News
AstraZeneca saw a rise in capacity for its COVID-19 vaccine candidate
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.