World stocks rallied strongly on Thursday after U.S. gross domestic product
data showed the world's biggest economy returned to growth last quarter
following the worst recession since the Great Depression.
The data showed the economy grew at an annual rate of 3.5 percent in the third quarter compared with a forecast for 3.3 percent, allaying fears of a prolonged slowdown.
The MSCI world index turned positive after the data, rebounding from three-week lows on Wednesday, the index's biggest one-day selloff since August. At the close, the index was up about 1.62 percent.
Wall Street equities indexes also rallied. The Dow Jones industrial average ended up 199.89 points, or 2.05 percent, at 9,962.58, while the Standard & Poor's 500 Index was up 23.48 points, or 2.25 percent, to 1,066.11. The Nasdaq Composite Index rose 37.94 points, or 1.84 percent, at 2,097.55.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-World stocks rally after US growth resumes > MONEY MARKETS-Short bank lending rates mixed after Q3 GDP > EMERGING MARKETS-Down to 4 week lows, Russia cuts rates again > COMMODITIES-Markets ramp up, end of recession eyed
ECONOMIC AND FINANCIAL NEWS MOVING GLOBAL MARKETS > US economy grows in Q3 ending deep slump > Congress criticises Obama plan for future big bank rescues > ECB's Weber says liquidity rollback likely in 2010 > Bad debts weigh on Asian, European banks > Weak UK money growth overshadows upbeat mortgage data > German jobless falls for fourth straight month > Moody's may downgrade Greece, warns Portugual > Russia delivers 8th interest rate cut since April > Oil companies outlook hit by falling profits > China, US try to take sting out of trade disputes > Japan government keeps heat on BOJ, regular talks planned
ANALYSES ON GLOBAL ECONOMIC AND MARKETS > Will US Q3 GDP be as good as it gets ? > Wall Street stocks seen near correction > Accounting irregularities may be on rise in US > US households soaking up Treasury debt flood > With US economic rebound tepid, Fed language unlikely to move > Brazil's lower debt brings advantags, risks > US recession may be over but debate about stimulus isn't > US Fed's Treasury debt purchases hit most marks
FACTBOXES > US legislation on financial systemic risk > TEXT-Bank of Canada monetary policy report > Which central banks will raise rates next ? > Major US financial regulation reform proposals > Federal Reserve staff forecasts from Sept meeting > TEXT-G7 communique at Istanbul meeting on Oct 3 > SCORECARD: How is G20 doing on summit pledges > TEXT-Final G20 communique on financial regulation > TEXT-Final G20 communique on framework for economic growth > FSB progress report on G20 financial rules reform > TEXT-Federal Reserve statement after policy meeting Sept 23 > Potential Fed exit strategy tools > US bank failures in 2009 > US, European bank writedowns, credit losses > Where has all the US bailout money gone ?
(New York Treasury Desk +1-646-223-6300) Keywords: FINANCIAL/MARKETS LOOK
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The data showed the economy grew at an annual rate of 3.5 percent in the third quarter compared with a forecast for 3.3 percent, allaying fears of a prolonged slowdown.
The MSCI world index turned positive after the data, rebounding from three-week lows on Wednesday, the index's biggest one-day selloff since August. At the close, the index was up about 1.62 percent.
Wall Street equities indexes also rallied. The Dow Jones industrial average ended up 199.89 points, or 2.05 percent, at 9,962.58, while the Standard & Poor's 500 Index was up 23.48 points, or 2.25 percent, to 1,066.11. The Nasdaq Composite Index rose 37.94 points, or 1.84 percent, at 2,097.55.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-World stocks rally after US growth resumes > MONEY MARKETS-Short bank lending rates mixed after Q3 GDP > EMERGING MARKETS-Down to 4 week lows, Russia cuts rates again > COMMODITIES-Markets ramp up, end of recession eyed
ECONOMIC AND FINANCIAL NEWS MOVING GLOBAL MARKETS > US economy grows in Q3 ending deep slump > Congress criticises Obama plan for future big bank rescues > ECB's Weber says liquidity rollback likely in 2010 > Bad debts weigh on Asian, European banks > Weak UK money growth overshadows upbeat mortgage data > German jobless falls for fourth straight month > Moody's may downgrade Greece, warns Portugual > Russia delivers 8th interest rate cut since April > Oil companies outlook hit by falling profits > China, US try to take sting out of trade disputes > Japan government keeps heat on BOJ, regular talks planned
ANALYSES ON GLOBAL ECONOMIC AND MARKETS > Will US Q3 GDP be as good as it gets ? > Wall Street stocks seen near correction > Accounting irregularities may be on rise in US > US households soaking up Treasury debt flood > With US economic rebound tepid, Fed language unlikely to move > Brazil's lower debt brings advantags, risks > US recession may be over but debate about stimulus isn't > US Fed's Treasury debt purchases hit most marks
FACTBOXES > US legislation on financial systemic risk > TEXT-Bank of Canada monetary policy report > Which central banks will raise rates next ? > Major US financial regulation reform proposals > Federal Reserve staff forecasts from Sept meeting > TEXT-G7 communique at Istanbul meeting on Oct 3 > SCORECARD: How is G20 doing on summit pledges > TEXT-Final G20 communique on financial regulation > TEXT-Final G20 communique on framework for economic growth > FSB progress report on G20 financial rules reform > TEXT-Federal Reserve statement after policy meeting Sept 23 > Potential Fed exit strategy tools > US bank failures in 2009 > US, European bank writedowns, credit losses > Where has all the US bailout money gone ?
(New York Treasury Desk +1-646-223-6300) Keywords: FINANCIAL/MARKETS LOOK
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.