Friday, 28 September 2018

Stocks rebound in US, tumble in Japan

Markets were mixed on Thursday.

The S&P 500 rose 0.3 percent and the STOXX Europe 600 rose 0.4 percent but the Nikkei 225 fell 1.0 percent.

“Treasury yields have dropped off since the Fed meeting, taking some of the recent pressure off of stocks and enabling indices to rebound,” said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Further gains for stocks may be limited though, the approaching mid-term election notwithstanding.

Brian Belski, chief investment strategist at BMO Capital Markets, said that while some investors have pointed out that the market typically stages a strong rally following the election, “we believe that investors may have already ‘pulled forward’ any anticipated post-midterm election bump”.

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