There was a rally on global markets overnight, ignited by dovish comments from ECB chief, Mario Draghi.
The S&P500 soared to a new record high, settling just two points shy of the 2000 barrier on comments from Draghi and M&A activity involving fast food giant, Burger King.
There similarly outsized gains in Europe, which followed Mario Draghi’s statement at Jackson Hole, that further stimulus for the eurozone was on the cards.
His comments were given added weight by data that showed German business confidence declined more than expected in August, highlighting the need for more stimulus.
In commodity markets, oil extended its losses into a second session as concerns about global oversupply overshadow lingering tensions in the Middle East.
There were generally minor moves in currency markets. The exception was the euro, which slid to its lowest against the greenback in almost a year, amid prospects for further monetary easing by the ECB.