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Global stocks push higher as traders assess economic outlook

Mount Equity Group Tokyo Japan > News > Markets > Global stocks push higher as traders assess economic outlook

Global stocks pushed higher on Tuesday, while the dollar declined, as traders moved back into riskier assets after the worst streak of weekly losses for equities since 2008.

Wall Street’s S&P 500 index rose 1.5 per cent, even as shares in Walmart — the world’s largest bricks-and-mortar retailer — slid 8 per cent after inflationary pressures forced it to cut current-quarter earnings forecasts. The technology-heavy Nasdaq Composite added 2.3 per cent in early dealings, after closing 1.2 per cent lower on Monday. In Europe, the Stoxx 600 index added 1.4 per cent.

Those moves followed a 3.3 per cent ascent for Hong Kong’s Hang Seng gauge. The region’s tech-focused sub-index rose 5.8 per cent as the heads of large Chinese technology companies met regulators to discuss the country’s digital economy.

Analysts at JPMorgan suggested that equity markets had priced in too much recession risk, saying stocks “stand to…

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