* MSCI world share index hits highest level since late July
* S&P 500 within striking distance of record
* China to exempt some agricultural products from tariffs
-Xinhua
* Bond yields at multi-week highs as recession worries ebb
(Updates with close of U.S. markets, oil settlement prices)
By Chuck Mikolajczak
NEW YORK, Sept 13 (Reuters) - A gauge of global stocks rose
for an eighth straight day and benchmark government bond yields
climbed on Friday after signs of progress in U.S.-China trade
talks, as well as a solid U.S. retail sales report, allayed
recession worries.
Stocks on Wall Street were little changed, as weakness in
tech companies Apple AAPL.O and Broadcom AVGO.O helped erase
initial gains fueled by positive signals on the trade war
between the world's two largest economies. Financials .SPSY
were among the best performers, aided by the rise in bond
yields.
Still, the benchmark S&P 500 rose for a third straight week
and stood about 0.6% from its record closing high set on July
U.S. President Donald Trump said on Thursday he was
potentially open to an interim trade deal with China, although
he stressed an "easy" agreement would not be possible. That was
followed up on Friday by China's official Xinhua News Agency
announcing the country would exempt some U.S. agricultural
products, such as pork and soybeans, from additional tariffs.
Reports showing solid U.S. retail sales and a measure of
U.S. consumer sentiment above expectations added to the optimism
and eased concerns about economic growth, although the Federal
Reserve was still widely expected to cut rates at its policy
meeting on Wednesday. The Bank of Japan is to follow with its
announcement on Thursday. "We've had these small concessions back and forth, which at
minimum gives investors some confidence that things are moving
in the right direction," said Joseph Sroka, chief investment
officer at NovaPoint in Atlanta.
The Dow Jones Industrial Average .DJI rose 36.28 points,
or 0.13%, to 27,218.73, the S&P 500 .SPX lost 2.3 points, or
0.08%, to 3,007.27 and the Nasdaq Composite .IXIC dropped
17.75 points, or 0.22%, to 8,176.71.
European shares closed higher for a fourth straight session
to notch their fourth straight week of gains, as the positive
tone surrounding the U.S.-China trade talks pushed cyclical
sectors such as banks and miners higher. The pan-European STOXX 600 index .STOXX rose 0.34% and
MSCI's gauge of stocks across the globe .MIWD00000PUS gained
0.20%. MSCI's index notched its eighth straight day of gains to
mark its longest winning streak in nearly two years.
The U.S. economic data and easing of trade tensions helped
lift bond yields to multi-week highs, with yields on 10-year
notes reaching a six-week high and those on 30-year bonds
touching their highest in five weeks. Benchmark 10-year notes US10YT=RR last rose 1-1/32 in
price to yield 1.9046%, from 1.791% late on Thursday.
The euro gained against the dollar for a second day,
although gains were pared after the release of the U.S. data, as
the European Central Bank on Thursday exempted euro zone banks
from a penalty charge, which analysts say will reduce the
currency impact of new stimulus. The dollar index .DXY fell 0.12%, with the euro EUR= up
0.13% to $1.1075.
Oil prices dipped, and both Brent and WTI posted weekly
declines. U.S. crude CLcv1 settled down 0.44% at $54.85 per
barrel and Brent LCOcv1 was last at $60.22, down 0.26% on the
Global assets in 2019 http://tmsnrt.rs/2jvdmXl
Global currencies vs. dollar http://tmsnrt.rs/2egbfVh
MSCI All Country Wolrd Index Market Cap http://tmsnrt.rs/2EmTD6j
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