Markets rose on Wednesday.
The S&P 500 rose 0.6 percent, the STOXX Europe 600 rose 1.0 percent and the Nikkei 225 rose 1.0 percent.
“Stocks are rallying on hopes for a better-than-expected trade deal as senior U.S. and Chinese officials meet in Washington this week,” said Alec Young, managing director of global markets research at FTSE Russell.
“There will be a deal done this time,” said Sean Taylor, chief investment officer of Asia Pacific at DWS.
However, after ADP reported a lower-than-expected increase of 129,000 private sector jobs for March, Mike Loewengart, vice president of investment strategy at E-Trade, suggested that the job market “is rolling down”.
Indeed, “equities are a turnoff”, said Luca Paolini, chief strategist at Pictet Asset Management, in a note to clients. “With developed economies under pressure and corporate profit growth slowing, prospects for most stock markets look uninspiring.”
“The U.S. stock market looks the most vulnerable to a correction,” he added.
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