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(Add gold, oil deal prices)
By Lawrence Delevingne
BOSTON, July 31 (Reuters) – Global inventory markets fell on Friday as doubts about the economic recovery of the coronavirus pandemic overshadowed the strong profits of U.S. generation companies.
Oil costs increased, given the news that cuts in U.S. oil production. In May they were the largest recorded, while gold near its all-time high helped a weaker dollar and disastrous economic figures that triggered a security rush.
The dollar has weakened as the US Federal Reserve is expected to be forced into its ultra-soft financial policy for years, a policy noticed as degrading to the currency.
Energy shares fell sharply after Chevron Corp reported a loss of $8.3 billion in asset repayments and ExxonMobil Corp recorded a direct quarterly loss.
The gains of Apple Inc., Amazon.com and Facebook Inc. decreased index losses after quarterly effects after Thursday’s bell.
Edward Moya, a senior market analyst founded in New York for corporate OANDA trading, said tech giants had put “a smart touch to stock.” But he noted other corporate disappointments and said the dollar will remain “a short-term strike bag” amid the coronavirus and stagnant U.S. government stimulus.
The MSCI Global Stock Index, which tracks stocks in 49 countries, fell 0.48 with a penny to 549.25, drove the decline through European stocks, which recorded their first decline consistent with the month since a massive sale on the market in March due to the development of recovery doubts.
On Wall Street, the Dow Jones Industrial Average fell 59.33 points, or 0.23%, at 26254.32, the S-P 500 2.76 points, or 0.09%, to 3,248.98 and the Nasdaq Composite added 91.03 points, or 0.86%, to 1.0678.84.
The dollar index, which tracks the opposite of a six-currency basket, rose 0.337 points, or 0.36%, to 93,358.
The euro has reached its highest point in more than two years, set for its most productive month in a decade, raising fears that its relative strength may be only European economic output.
U.S. government negotiations On the coronavirus relief bill they were not yet on track to reach an agreement, said U.S. House Speaker Nancy Pelosi on Friday, hours before federal unemployment expires, gaining advantages that have been a significant lifeline for millions of Americans.
The benchmarks of U.S. Treasury bonds. At 10 years they traded unchanged for a yield of 0.5331%.
The overall budget reduced equity holdings in July to a minimum of four years and advised keeping bond allocations unchanged since June, a Reuters vote.
The pan-European STOXX six-hundred index gave up its first profits to close at 0.9%, under pressure from a weak opening on Wall Street.
The eurozone economy recorded its biggest contraction ever recorded in the quarter, according to early Estimates on Friday, while block inflation increased in July.
These figures overshadowed china and Japan’s production knowledge.
The largest MSCI index of Asian outdoor equities Japan fell by 0.3%. Japan’s Nikkei fell by 2.82% as the yen’s appreciation has been on exporters.
China’s top CSI300 index closed with a 0.84% hike, its highest monthly gain since February 2019, 12.8% more.
Crude oil recovered from a night depression. U.S. crude oil futures rose 35 cents to $40.27 a barrel, while Brent futures rose 37 cents to $43.31 a barrel.
Silver climbed 2% to $23.94 per ounce, on course for a monthly rise of 33%, its largest on records going back to 1982, supported by investment and industrial demand.
(Reporting through Lawrence Delevingne in Boston and Ritvik Carvalho in London; edited through Dan Grebler and Herb Lash)