Saturday, 23 January 2016

Markets surge, expected to extend rebound

Global stocks and oil surged on Friday, ending a volatile week on a high note.

The S&P 500 jumped 2 percent, the STOXX Europe 600 surged 3 percent and the MSCI Emerging Markets Index climbed 3.3 percent.

Brent crude rose 8 percent and West Texas Intermediate crude climbed 8.1 percent.

“It’s a classic oversold bounce after Draghi’s comments yesterday and the noise on Japanese stimulus overnight, the question is where do we go from here,” said Veronika Pechlaner, who helps oversee $10 billion at Ashburton Investments, part of FirstRand Group.

The answer appears to be up for many analysts. Bloomberg reports that forecasters expect the S&P 500 to extend its rebound from the Wednesday low to 19 percent by December while European strategists see the region’s benchmark finishing 2016 about 18 percent higher than Friday’s close.

No comments:

Post a Comment