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Global Stocks Rise Ahead of ECB Policy Decision

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07/25/2019 | 04:11am EDT

By Lauren Almeida

-- Asian, European stocks rise

-- U.S. Treasury yields edge down

-- Alphabet and Amazon earnings due

European stocks followed Asian indexes higher ahead of a European Central Bank meeting later today, where easier monetary policy is widely expected.

The Stoxx Europe 600 was up by 0.4%, led by gains in the health care and food and beverage sectors. Asian stocks were broadly up, with South Korea's Kospi the exception with a drop of 0.4%.

The yield on 10-year German bunds was at minus 0.436%, near its all-time low after weaker-than-expected European manufacturing data.

In the U.S., the yield on 10-year Treasurys fell on Thursday to 2.030%, from 2.052% Wednesday. Yields fall when bond prices rise. The WSJ Dollar Index, which measures the currency against a basket of peers, was flat.

On the earnings front, financial firms Lazard, Invesco and KKR will report Thursday, as will tech giants Alphabet Inc. and Amazon.com Inc.

A series of better-than-expected earnings reports have recently supported markets. Facebook Inc. on Wednesday brushed off a record-setting privacy fine to post strong earnings and revenue growth. Its shares gained 0.9% in after-hours trading.

U.S. durable goods data for June are due later Thursday, which will give an indication of the health of American manufacturing.

In commodities, the global oil benchmark Brent crude was up by 0.5% to $63.47 a barrel, as European powers struggled to cooperate on a plan to secure the Persian Gulf. Gold edged up 0.2%.

Write to Lauren Almeida at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
KOSPI COMPOSITE INDEX -0.18% 2067.13 Real-time Quote.1.26%
US DOLLAR INDEX 0.09% 97.905 End-of-day quote.1.26%
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