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US economic data pushes dollar, global stocks; Chinese demand boosts oil

This comes a day after Fed Chair Janet Yellen signalled a less aggressive rise in interest rates

Reuters  |  New York 

Upbeat data lifted the dollar and sent world shares to a fourth all-time high in less than a month on Thursday, a day after Federal Reserve Chair Janet Yellen signalled that a rise in interest rates would be less aggressive than had been expected. Oil prices gained as evidence of stronger demand in China offset reports of higher production by key Organisation of the Petroleum Exporting Countries (Opec) exporters in a report by the International Energy Agency (IEA). Stocks on Wall Street climbed, ahead of Yellen's second day of testimony after her remarks on Wednesday ...

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First Published: Thu, July 13 2017. 22:58 IST