Friday, 7 April 2017

US and European stocks rebound as Trump-Xi meeting begins

Markets were mixed on Thursday.

The S&P 500 rose 0.2 percent and the STOXX Europe 600 rose 0.2 percent.

However, the MSCI Asia Pacific Index fell 0.8 percent as the Nikkei 225 plunged 1.4 percent.

“We are seeing a short-term snap back from yesterday’s sharp selloff with the hardest-hit sectors recovering,” said Frank Cappelleri, chartered market technician at Instinet.

“Every time the market dips, investors come back,” said Paul Nolte, portfolio manager at Kingsview Asset Management.

Investors will be keeping an eye on the two-day meeting between US President Donald and Chinese President Xi Jinping that began on Thursday.

Connor Campbell, financial analyst at Spreadex, wrote in a note that “there is the chance for fireworks in the next 24 hours”.

However, Julian Evans-Pritchard, China economist at Capital Economics, said “we don’t expect any major policy announcements to come out of the meeting”.

No comments:

Post a comment