Wednesday 23 July 2014

Stocks rally, US existing home sales rise

Global stocks rose on Tuesday.

The MSCI All-Country World Index rose 0.7 percent, the S&P 500 climbed 0.5 percent and the STOXX Europe 600 jumped 1.3 percent.

US economic data on Tuesday were positive.

Existing home sales rose 2.6 percent in June to an eight-month high, with the median house price hitting its highest level since 2007.

The consumer price index rose 0.3 percent in June, down from 0.4 percent in May. However, the 12-month inflation rate was unchanged at 2.1 percent.

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