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Global Stocks Edge Higher as Investors See Fewer Risks

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11/19/2019 | 05:51am EST

By Anna Isaac

Global stocks drifted higher Tuesday as investors appeared to grow less nervous about the global economic outlook and the prospects for a U.S.-China trade deal.

Futures tied to the Dow Jones Industrial Average index rose 0.4%, while Hong Kong's Hang Seng Index ended the day up almost 1.6%. The Shanghai Composite gauge advanced 0.9%. The key benchmark equity indexes in the U.S. drifted higher to close at record levels once again on Monday following a quiet trading session.

The ICE dollar index, which tracks the greenback against a basket of currencies, dropped sharply immediately after President Trump said he met with Federal Reserve Chairman Jerome Powell at the White House Monday and "protested" about U.S. interest rates being too high. The gauge has since pared back some losses, and was almost flat in early European trading.

Mr. Trump, who has been vocal in his criticism of the central bank, tweeted that he discussed the state of the economy, trade issues, and the impact of "too strong" dollar with the central bank chief. The Fed said Mr.Powell reiterated that he hoped interest-rate cuts earlier this year would bolster the economy. The yield on the U.S. 10-year Treasurys rose to 1.819%, from 1.808% on Monday.

Meanwhile, the pan-continental Stoxx Europe 600 index rose 0.6%, led by airlines and auto makers. EasyJet rose 4.5% in London after the budget airline said bookings for the first half of fiscal 2020 have climbed.

Later in the day, investors will get an opportunity to assess another yardstick for U.S. economic activity and confidence when the Commerce Department releases figures on the number of new homes being built. Economists expect a 3.5% increase in October, compared with the previous month. New York Federal Reserve Bank President John Williams is also set to give a speech at a conference in Washington, D.C.

Write to Anna Isaac at anna.isaac@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CHINA-SHANGHAI COMP 0.43% 2912.01 End-of-day quote.16.58%
DJ INDUSTRIAL 1.22% 28015.06 Delayed Quote.20.09%
EASYJET 2.06% 1388 Delayed Quote.25.61%
EURO / US DOLLAR (EUR/USD) 0.02% 1.1058 Delayed Quote.-3.16%
HANG SENG 1.07% 26487.17 Real-time Quote.2.48%
HUDSON'S BAY COMPANY -0.98% 9.13 Delayed Quote.25.24%
ICE GROUP ASA 2.27% 20.3 Delayed Quote.0.00%
NASDAQ 100 1.07% 8397.367217 Delayed Quote.32.66%
NASDAQ COMP. 1.00% 8656.528802 Delayed Quote.30.46%
S&P 500 0.91% 3145.91 Delayed Quote.25.49%
STOXX EUROPE 600 1.16% 407.35 Delayed Quote.20.64%
STOXX EUROPE 600 NR 1.17% 878.74 Delayed Quote.24.17%
US DOLLAR INDEX 0.30% 97.7 End-of-day quote.1.05%
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