{"id":116081,"title":"Global stocks are surging amid expectations that the US will avoid a recession.","publisher":"Share Talk","author":"sharetalk","published":"2024-08-15T14:36:16+00:00","modified":"2024-08-15T14:36:16+00:00","canonical_url":"https://www.share-talk.com/global-stocks-are-surging-amid-expectations-that-the-us-will-avoid-a-recession/","markdown_url":"https://www.share-talk.com/global-stocks-are-surging-amid-expectations-that-the-us-will-avoid-a-recession.md","json_url":"https://www.share-talk.com/global-stocks-are-surging-amid-expectations-that-the-us-will-avoid-a-recession.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Dow Jones","Nasdaq 100","New York","premarket trading","S&P 500","Stock Markets","USA","Wall Street"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/08/USA-16_10_23-750x406-1.webp?fit=750%2C406&quality=80&ssl=1","format":"news","language":"en-GB","content":"Global stocks surged after US retail sales data suggested the world’s largest economy is not heading toward a recession.\n\nThe FTSE 100 jumped 1%, and Wall Street indexes gained up to 1.5% after figures indicated that American consumers are holding up well despite interest rates remaining at 23-year highs.\n\nUS retail sales rose by 1% in July to $709.7 billion (£553.2 billion), far exceeding economist estimates of 0.4% growth.\n\nBond yields moved higher as traders reduced bets on the Federal Reserve announcing a significant interest rate cut at its next meeting in September.\n\nMoney markets also show the chances of a rate cut by the Bank of England at its next meeting have dropped from 41% on Wednesday to 34%.\n\nBillions were wiped off global markets in a massive sell-off last week amid fears of a US recession.\n\nHowever, stocks have rebounded as separate data revealed a decline in the number of Americans applying for unemployment benefits last week.\n\nThe consultancy Capital Economics noted to clients: “Don’t bet against the American consumer.”"}