Wednesday, 16 October 2019

Markets rise on hopes for Brexit deal

Markets were mostly higher on Tuesday.

The S&P 500 rose 1.0 percent, the STOXX Europe 600 jumped 1.1 percent and the Nikkei 225 surged 1.9 percent.

Investors were cheered on Tuesday by a report that an agreement over the UK's exit from the European Union is close.

“One by one the major global risks to U.S. economic growth are falling by the wayside which gives investors the green light to back up the truck and buy lots of stocks,” said MUFG chief economist Chris Rupkey.

John Lynch, chief investment strategist at LPL Financial, said that “better days lie ahead”. He said that the US-China trade war “is unlikely to be resolved anytime soon, but we believe any small steps forward could increase business confidence and spark capital investment, lifting corporate profits”.

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