US govt. partial shutdown drives most world shares higher

us partial shutdown

European, Asian, and U.S. futures climbed higher after the United States government imposed a partial shutdown. On Thursday, after the lawmakers averted a partial shutdown in US, the world shares drove higher.  

In the European Market, Germany’s DAX edged 0.1% higher to 15,378.85 points while in Paris, the CAC 40 added 0.5% to 6,593.48 points. London’s FTSE 100 also gained 0.5%, to 7,146.51 points.  

In the U.S., the future for the Dow industrials was 0.7% higher. On similar lines, the S&P 500 future also rose 0.7%.  

In the United States, the Democrats and the Republicans have been fighting to raise the debt ceiling.  

Janet Yellen, the treasury secretary, also stated the necessity of raising the debt ceiling, without which the country could go into a state of default with debts. Her remarks came a day after Senate Republicans blocked consideration of a bill that would have raised the debt limit.  

Asian shares also mainly increased, though Tokyo’s Nikkei 225 index lost -0.3% to -29,452.66 points after disappointing factory and retail sales data were released.  

Evergrande’s impact is still evident in the Chinese market. For instance, Hong Kong’s Hang Seng index lost -0.4% to -24,575.64 points. However, the Shanghai Composite index gained +0.9% to +3,568.17 points.  

Australia’s S&P/ASX 200 jumped +1.9% to +7,332.20 points. In Seoul, the Kospi climbed +0.3% to +3,068.82 points.  

On Wednesday, the S&P 500 rose 0.2% to 4,359.46 points. The Dow Jones Industrial Average also lost momentum, still managing a +0.3% gain to +34,390.72 points, while the tech-heavy Nasdaq composite gave back 0.2% to 14,512.44 points.  

The Russell 2000 index of small companies fell considerably, shedding -0.2% to 2,225.31.  

While the U.S. dollar fell, the Euro rose!  

Related Posts