Thursday, 24 November 2016

Markets mixed but some enjoying bull runs

Markets were mixed on Wednesday.

The S&P 500 eked out a 0.1 percent gain to finish at another record high but the STOXX Europe 600 slipped less than 0.1 percent.

In Asia, while Japan's stock market was closed for a holiday, the Shanghai Composite Index fell 0.2 percent but Australia's S&P/ASX 200 jumped 1.3 percent.

Yields on the US 10-year Treasury note rose to 2.355 percent from 2.319 percent on Tuesday.

“This is relief,” said Shannon Saccocia, head of asset allocation at Boston Private Wealth. “We have positive earnings posted, an energy market which has stabilized, and we’ll have fiscal spending that will benefit parts of the market that have lagged.”

And it is not just the US stock market that has gained. CNN noted that many markets around the world have surged by 20 percent or more from recent 2016 lows, with some up more than 30 percent.

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