Saturday, 12 May 2018

Markets rise amid “multiple signs of strength”

Markets rose on Friday.

The S&P 500 rose 0.2 percent, the STOXX Europe 600 rose 0.1 percent and the Nikkei 225 rose 1.1 percent.

Donald Selkin, chief market strategist at Newbridge Securities, noted that “we’ve broken out of the downtrend that we had been seeing, thanks to some strong earnings and bond yields that have remained stable below 3%”.

“Investors should take heart from the resilience equities have shown as geopolitical tensions rise,” said Chris Beauchamp, chief market analyst at IG, in a note.

Indeed, Ryan Vlastelica at MarketWatch wrote that there are “multiple signs of equity strength going on below the surface of the major indexes, which could be a signal that the recent uptrend in stocks is justified and could continue”.

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