Friday, 25 October 2019

Markets rise, US durable goods orders fall

Markets rose on Thursday.

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

A report on Thursday showed that US durable goods orders fell 1.1 percent in September, the largest drop in four months.

US corporate earnings have been more positive, with nearly 80 percent of companies posting results that beat analyst estimates, according to FactSet.

“Thus far earnings have been generally supportive of further progress and a number of potential minefields in the industrial sector have been navigated successfully,” Michael Shaoul, chairman and CEO of Marketfield Asset Management, wrote in a note.

The European Central Bank left interest rates unchanged at its monetary policy meeting on Thursday, the last presided by Mario Draghi, who makes way for Christine Lagarde on 1 November.

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