Rolling coverage of the latest economic and financial news
The US stock market’s recovery over the last 10 trading sessions is the fastest since early in the Covid-19 pandemic, reports Jim Reid, market strategist at Deutsche Bank.
He says:
Hopes for a de-escalation between the US and Iran have continued to propel markets higher this morning, with Trump saying overnight that “I think it’s close to over.”
So oil prices have remained steady, with Brent crude at $95.26/bbl, and the surge for risk assets has continued. Indeed, yesterday saw the S&P 500 (+1.18%) close just shy of its record high, meaning that the index is now up +9.8% over the last 10 sessions. For reference, that’s now even faster than the bounceback after Liberation Day last year, and we haven’t seen a run of gains that quick over 10 sessions since the post-Covid bounceback in April 2020.
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