Friday, 10 August 2018

Stocks jump in China, mixed elsewhere

Markets were mixed on Thursday.

The S&P 500 fell 0.1 percent while the STOXX Europe 600 rose 0.1 percent.

Earlier in Asia, the Nikkei 225 fell 0.2 percent but the Shanghai Composite jumped 1.8 percent.

“Things are looking good in the U.S. in terms of earnings and data, but things aren’t as rosy if you look to China, emerging markets or Europe. Weakness in those regions could eventually become a headwind for the U.S.,” said Suzanne Hutchins, senior portfolio manager of the Dreyfus Global Real Return Fund run by investment boutique Newton.

However, Canaccord Genuity strategist Tony Dwyer said that optimism among businesses and consumers alike, combined with continued positive quarterly results, suggest “there is a long way to go” for the US bull market despite persistent concerns over a trade war.

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