Wednesday, 18 April 2018

Markets rise as China growth and US earnings beat expectations

Markets rose on Tuesday.

The S&P 500 rose 1.1 percent, the STOXX Europe 600 rose 0.8 percent and the Nikkei 225 rose 0.1 percent.

Boosting markets was a report showing that China's economy grew 6.8 percent in the first quarter of 2018, beating expectations.

In the US, Mark Luschini, chief investment strategist at Janney Montgomery Scott, noted that corporate reports are showing that “both earnings and revenue are coming in ahead of expectations”.

Still, Wharton finance professor and long-term bull Jeremy Siegel told CNBC on Monday that the “market is going to struggle this year”.

“It's going to be a flat to slightly upward tilting year as good earnings collide with what I think will be higher interest rates both by the Fed and in the Treasury market,” he said.

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