Thursday, 30 March 2017

Markets rise amid optimism, UK triggers Brexit

Markets rose on Wednesday.

The S&P 500 rose 0.1 percent, the STOXX Europe 600 rose 0.3 percent and the Nikkei 225 rose less than 0.1 percent.

Oil rose. West Texas Intermediate crude rose 2.4 percent while Brent rose 2.1 percent.

Analysts are optimistic on stocks.

Randy Frederick, vice president of trading and derivatives for Charles Schwab, said that “economic data remains strong and markets are optimistic that we’ll see progress on tax reform out of Washington”.

“We’re probably going to get double-digit earnings growth this quarter, showing that things are getting better even without Administration changes,” said Karyn Cavanaugh, senior market strategist at Voya Financial.

In Europe, stocks rose as investors largely ignored the UK's official notification of its decision to leave the European Union.

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