Friday, 16 April 2021

US and European stocks hit record highs

Markets were mostly higher on Thursday.

The S&P 500 rose 1.1 percent to a record high while the STOXX Europe 600 rose 0.5 percent to also close at a record high. However, the Shanghai Composite fell 0.5 percent.

US economic data on Thursday helped boost stocks as retail sales surged 9.8 percent in March while first-time claims for unemployment insurance fell to 576,000 for the week ended 10 April, the lowest level since March 2020.

“The speed and resiliency of this economic recovery is unlike anything we’ve ever seen and it helps to justify stocks at all-time highs,” said Ryan Detrick, chief market strategist at LPL Financial.

“I am incredibly bullish on the markets,” said Larry Fink, CEO of BlackRock.

Meanwhile, Chantico Global founder and CEO Gina Sanchez told CNBC on Thursday that there is opportunity in European stocks.

Sanchez said that European stocks are “very, very attractively priced” and that growth expectations are “very strong”.

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