Saturday, 23 February 2019

Markets rise as Trump sees “very good chance” of trade deal

Markets were mostly higher on Friday.

The S&P 500 rose 0.6 percent and the STOXX Europe 600 rose 0.2 percent. However, the Nikkei 225 fell 0.2 percent.

“There’s a slew of China related headlines bouncing around the market right now,” said Mike Antonelli, an equity sales trader at Robert W. Baird & Co, after US President Donald Trump said on Friday there was “a very good chance” the US would strike a deal with China to end their trade war.

Mary Ryan, senior equity options strategist at E-Trade Financial Corp., said that the “market is in a precarious position, bumping up against highs not seen since last fall”, with trade a “likely catalyst to tip the scales in either direction”.

She added that “an uptick in volatility could be in the cards”.

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