Wall St: US shares snap eight-day losing streak
29 March 2017
The Dow Jones Industrial Average rose solidly after a survey on Tuesday revealed consumer confidence in the US economy rose in March.
NAB economist David de Garis wrote in analyst note that a number of other factors may have contributed to the gains in global markets overnight.
"Getting toward the end of the month and the end of the quarter, and given the torpor of risk assets markets of late, the return of some buying could easily have occurred," he said.
But most analysts have credited a "super-charged" report on the state of US consumer confidence with lifting market sentiment.
The Conference Board measure of consumer confidence jumped to its highest level since December 2000, increasing from 116.1 to 125.6, well above the 114 expected.
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