Wednesday, 21 December 2016

Wall Street hits record highs, dollar rises to 14-year peak

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US equities touched record highs on Tuesday and the dollar rose to its highest level in 14 years as markets shrugged off risk aversion and continued the rally that has elevated Wall Street since Election Day. The Dow Jones industrial average and Nasdaq Composite both closed at record highs, with the blue-chip index just below the 20,000 level. 

European stocks steadied as reassurance over Italy's plan to spend up to 20 billion euros (USD 21 billion) to rescue its troubled banks overtook uncertainty over Monday's attacks in Turkey and Germany. The pan-European STOXX 600 closed up 0.48 percent, with the German DAX, French CAC 40 and British FTSE 100 all adding gains.

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