Saturday, 26 August 2017

Markets mixed, US stocks vulnerable to plunge

Markets were mixed on Friday.

The S&P 500 rose 0.2 percent and the Nikkei 225 rose 0.5 percent but the STOXX Europe 600 slipped 0.1 percent.

Markets reacted little to speeches by Federal Reserve Chairwoman Janet Yellen and European Central Bank President Mario Draghi at the central bankers' retreat in Jackson Hole, Wyoming as neither offered clues about future monetary policy moves.

Gary Shilling told Business Insider that US stocks are expensive and a shock could send them plunging.

Which is possibly why many investors are fleeing US stocks.

Bank of America Merrill Lynch reported on Thursday that the US stock market has seen outflows for 10 consecutive weeks, the longest streak of outflows since 2004.

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