Record Wall St maintained, eye on inflation revision

A look at the day ahead in US and global markets from Mike Dolan

After breaking the 5,000-point milestone for the first time on Thursday, Wall Street’s S&P 500 is poised to recover and maintain its nearly 5% gain for the year so far — while a thin Friday saw bonds and Inflation has again been brought into the spotlight.

Markets were calm overnight due to the absence of mainland China due to the Lunar New Year holidays – although a nearly 1% fall in the Hang Seng at the still-open Hong Kong showed that poor investor sentiment in China is difficult to overcome.

Although any market reaction will now take about a week, there was some rare positive economic news from Beijing. New bank loans in China rose more than expected in January to an all-time high as the central bank moved to boost lending – bolstering expectations of more stimulus to come.

But economics are only part of the problem for foreign investors pulling out of the world’s second-largest economy, and Chinese President Xi Jinping touched on Beijing’s deepening alliance with Moscow in a call with Russian President Vladimir Putin on Thursday. Must have consoled.

In US markets, the mood is clearly very different as record high stocks have soared even higher as the white heat of another impressive corporate earnings season passed – with chip designer Arm taking nearly 50% of its stake to extraordinary earnings on Thursday. The reaction of the day has increased.

And yet politics are never far from the minds of Wall St. Donald Trump appeared headed for a major legal victory at the US Supreme Court as the justices on Thursday signaled their readiness to reject the judicial ruling barring the former president from voting in Colorado for participating in the insurrection during the 2021 Capitol attack. Gave the signal.

On more in-depth matters, Friday’s…

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