Tuesday, 20 February 2018

Stocks fall in Europe, surge in Japan, fundamentals in US “best it's been”

Markets were mixed on Monday.

The STOXX Europe 600 fell 0.6 percent, its first decline in four days, as Germany’s 10-year yield increased three basis points to 0.73 percent, the largest increase in more than a week.

However, earlier in the day, the Nikkei 225 surged 2 percent to the highest in two weeks, as the yen sank 0.3 percent to 106.56 per dollar, the largest decrease in almost two weeks.

Markets in the US, China and Hong Kong were closed for holidays.

US stocks may be set for more gains after the holidays. BlackRock strategists have raised them to overweight because fiscal stimulus is “supercharging U.S. earnings growth expectations”, with Kate Moore, BlackRock's chief equity strategist, saying that “the fundamental story is the best it's been”.

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