Friday, 2 June 2017

Markets rise amid optimism about economy

Markets rose on Thursday.

The S&P 500 rose 0.8 percent to close at a record high, the STOXX Europe 600 rose 0.4 percent and the MSCI Asia Pacific Index rose 0.3 percent.

Stocks rose amid optimism about the economy.

With US private-sector employment jumping 253,000 in May, exceeding expectations, John Manley, chief equity strategist at Wells Fargo Funds, thinks “this is not a bad environment we are in”.

Meanwhile Chris Williamson, chief business economist at IHS Markit, wrote in a note that the “eurozone upturn is developing deeper roots as factories enjoy a spring growth spurt” as the eurozone manufacturing PMI was confirmed at 57.0, the highest level since April 2011.

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