Sun. Sep 20th, 2020

Global shares push higher on hopes of trade deal and China stimulus – business live

1.45pm GMT

The figures will help dispel any recession fears. The US housing market has perked up in recent months, after the Federal Reserve cut interest rates three times.

Fears that the US economy could slide into recession have receded in recent months as trade tensions with China have eased. There are hopes that a preliminary trade deal can be agreed soon between the world’s two biggest economies.

1.38pm GMT

The latest US housing data are out, and they are strong. Housebuilding rebounded in October and the number of permits for future home construction jumped 5% to 1.46m, the highest level since May 2007.

The number of homes on which construction started rose 3.8% to 1.31m last month, according to the US Commerce Department.

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