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News Highlights: Top Global Markets News of the Day

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06/03/2020 | 05:16am EDT
Global Stocks Rise on Hopes for Economic Recovery 
 

International stock indexes rose on optimism that economic activity will improve as countries emerge from lockdowns and that additional government spending will shore up recoveries.

 
Coronavirus Hit on U.S. Economy Might Linger Until 2029; Cases in India Keep Surging 
 

A survey of U.S. nursing homes found some 26,000 Covid-19 deaths, while a report suggests the U.S. economy could take almost a decade to fully recover. India plans to ease lockdowns despite a near-record rise in cases.

 
China Caixin Service PMI Rebounds Sharply in May 
 

A private gauge of China's service sector activity rebounded sharply to a nearly 10-year high in May as domestic demand recovered amid government measures to buoy economic growth.

 
China Central Bank Vows to Step Up Policy Support for Pandemic-Hit Economy 
 

The China central bank's vice governor said that the coronavirus pandemic's impact on the Chinese economy is bigger than expected and more monetary support measures will be rolled out to support growth and job markets.

 
A Record-Breaking Economic Boom Is About to Go Bust 
 

Australia's 28-year growth streak survived a regional economic crisis in the 1990s, a global economic crisis in the 2000s, and a boom-bust cycle in its core commodity sector in the 2010s. Now, a recession looms after the economy contracted in the first three months of the year.

 
Glynn's Take: A Generation of Australians Enters First Recession 
 

Australia's nearly three decades of expansion is over, with Treasurer Josh Frydenberg confirming Wednesday that the economy is in recession, something virtually nobody in the country under the age of 50 has experienced in their working lives.

 
China Revives London Stock-Listing Program 
 

Beijing has approved a Chinese insurer's plans to sell securities in London, signaling that a tie-up between the U.K. and Shanghai stock markets is no longer on hold.

 
Here's What the ECB Bought With Its PEPP in May 
 

A breakdown released by the ECB has revealed what assets the central bank bought through the end of May with its EUR750 billion PEPP.

 
Pace of German Jobless Claims Slows 
 

German jobless claims rose in May by 238,000, but the pace slowed from the previous month when the coronavirus lockdown took its toll on the labor market.

 
Fauci 'Cautiously Optimistic' About Coronavirus Vaccine 
 

The federal health expert said he believes it is likely that successful vaccine candidates would prove effective 'within a reasonable period of time' to fight the novel pathogen.

 
 

Stocks mentioned in the article
ChangeLast1st jan.
RISE, INC. 0.00% 29 End-of-day quote.-3.33%
THE GLOBAL LTD. 2.84% 217 End-of-day quote.-53.93%
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