Wednesday, 23 August 2017

Markets rise as traders buy the dips

Markets mostly rose on Tuesday.

The S&P 500 rose 1.0 percent and the STOXX Europe 600 rose 0.8 percent.

Early on Tuesday, the Nikkei 225 dipped 0.1 percent but most other Asian markets rose.

David Morrison, market strategist at Spread Co, suggested that “traders are taking advantage of the recent selloff to buy the dips”.

Indeed, Morgan Stanley chief US equity strategist Michael Wilson wrote that its bull market check list remains intact and recommended that investors “buy the dip”.

Corporate insiders are apparently already doing that.

“The recent dip in major averages has brought insiders off the sidelines,” CNBC reported.

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