Stocks push higher on US and China stimulus hopes

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Equities updates

Wall Street and European stock markets started September on a cautiously positive note as signs that the global recovery from Covid-19 was moderating expectations of crisis-era monetary support policies remaining in place.

The S&P 500 opened up 0.2 per cent, putting Wall Street’s blue-chip stock index on track for its latest closing high following seven straight months of gains to the end of August. The technology-focused Nasdaq Composite rose 0.6 per cent, building on its record high reached in the previous session.

In Europe, the region-wide Stoxx 600 index added 0.4 per cent while London’s FTSE 100 gained 0.5 per cent.

The moves came after a monthly report on Wednesday showed that US private sector employers added 374,000 jobs in August, far fewer than than the 618,00 new roles economists polled by Reuters had predicted. The government’s…

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