Driven by hopes that August data could moderate inflation and news of Ukraine vs. Russia updates, global equities continued to rally for the 4th time.
Weakness in the value of the dollar ahead of the release of the consumer price index (CPI) data of the United States (US), where expectations for the Federal Reserve to be less aggressive with its interest rate hikes were rekindled, were benefited by equities.
The result can be seen with the Dow Jones Industrial rising 0.71% at 32,381.34 while the S&P 500 reached 1.06% at 4,110.41 and the Nasdaq Composite added 1.27% at 12,266.41.
According to Dakota Wealth's Robert Pavlik, investors expect a drop in inflation which will translate into a 'small interest rate hike' after the FOMC meeting.
Moving to the European zone, the STOXX 600 index closed higher by 1.76% while the MSCI gauge of global shares rose 1.26%.
According to analyst Michael O'Rourke, European stocks rose after news of Russia's withdrawal from northern Ukraine, which collapsed Moscow's military frontline.
In the Asian region, Japan's Nikkei 225 rose 0.26%, Topix jumped 0.18% while South Korea's Kospi added 1.78% and Kosdaq climbed 1.9%.
Australia's S&P/ASX 200 index rose 0.6% and overall MSCI's broadest gauge of Asia Pacific shares outside Japan reached 0.35%.
The currency summary saw the dollar index slip 0.368% with the Euro up 0.75% at $1.0114 while the Yen weakened 0.21% at $142.85 and the Pound added 0.78% at $1.1677.
Meanwhile, the benchmark 10-year note fell 10/32 in price to yield 3.3577% from 3.321% while the 30-year bond fell 30/32 in price to yield 3.5094% from 3.456%.
