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Wed, 24th May 2017

Anirudh Sethi Report

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Overnight US Market :Dow closed + 64 points.Missed by 0.37 pts to kiss 20k

0.37 points.

That is how close the Dow Jones Industrial Average came to smashing the 20,000 mark for the first time in history.

The blue-chip average was lifted on Friday by a jobs report that showed the pace of American wage growth hit the fastest rate since 2009 as the unemployment rate held at less than half of its all-time peak.

The Dow and S&P 500 both notched new all-time peaks. The more tech-heavy Nasdaq Composite also struck a new record high.

The upbeat jobs data also ignited a sell-off in US government bonds. The policy-sensitive two-year Treasury note yield jumped 5.2 basis points to 1.21 per cent, while the 10-year yield was up 7.3 basis points to 2.42 per cent.

The US dollar advanced by 0.7 per cent against a basket of six global currencies, with the UK pound skidding 1 per cent.

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