© Reuters. A man walks past an electric monitor displaying Japan’s Nikkei share average and recent movements, outside a bank in Tokyo, Japan, June 5, 2023. REUTERS/Issei Kato/File Photo
By Sinéad Carew
NEW YORK (Reuters) -MSCI’s global stock index rose on Thursday, recouping some losses from the previous session’s late-session sell-off, while oil prices fell and the dollar hit its lowest point in a week on the eve of a key U.S. inflation reading.
Oil prices, which rallied earlier in the week due to concerns about shipping disruption in the Red Sea, fell after Angola announced it is leaving the Organization of the Petroleum Exporting Countries (OPEC).
On Wednesday, Wall Street suffered its biggest drop since September, and analysts cited hedging activity associated with trading in short-dated options.
“Today’s market is trying to recover. This has been the hallmark of the latest phase in the market,” said Quincy Krosby,…
