Sunday, April 11, 2021

IMF downgrades UK recovery but raises global growth outlook – business live

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2.32pm GMT

The opening bell has rung on Wall Street, and stocks are trading higher, buoyed by upbeat updates from a slew of companies such as vaccine maker Johnson & Johnson. The S&P 500 has hit another record high.

2.26pm GMT

US stocks are now expected to open slightly higher, after positive results from a number of companies including General Electric and Johnson & Johnson, as the US Federal Reserve started its two-day policy meeting.

Johnson & Johnson forecast 2021 profits above Wall Street estimate and promised to publish data from its eagerly awaited coronavirus vaccine trial soon. It’s a single-shot vaccine – unlike the other vaccines that have already been approved and require two jabs – which would make it much easier to administer.

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