Saturday, 16 March 2019

S&P 500 hits five-month high, economic data turning positive

Markets rose on Friday.

The S&P 500 rose 0.5 percent to close at a five-month high.

Elsewhere, the STOXX Europe 600 rose 0.7 percent and the Nikkei 225 rose 0.8 percent.

“You’re seeing smaller cap companies do well, which indicates a risk-on mood on Wall Street,” said Brent Schutte, chief investment strategist at Northwestern Mutual Asset Management.

Investors may also have noted comments from Chinese Premier Li Keqiang expressing optimism that a trade deal between China and the US can be achieved that suits both parties.

Meanwhile, Adam Cole, chief currency strategist at RBC Capital Markets, noted that after a long stretch of ugly readings from Europe and lackluster figures elsewhere, economic surprises over a four-week window have turned slightly positive for the first time since October.

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