Friday, 11 October 2019

Markets rise on renewed hopes for US-China trade deal

Markets rose on Thursday.

The S&P 500 rose 0.6 percent, the STOXX Europe 600 rose 0.7 percent and the Nikkei 225 rose 0.5 percent.

Sentiment was boosted by US President Donald Trump's tweet that he would meet Chinese Vice Premier Liu He on Friday to advance a trade deal.

Stephen Suttmeier, chief equity technical strategist at Bank of America Merrill Lynch, told CNBC that the market is “building some kind of a base” that “resolves to the upside, meaning going to new highs”.

In contrast, Raoul Pal, co-founder of Real Vision financial television, said that the market is entering a “period of illiquidity” and that a stock selloff may be inevitable.

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