LONDON - World stocks and risk currencies rallied on Tuesday on encouraging global economic data and assurances from U.S. President Donald Trump that the U.S.-China trade deal remained “fully intact” after confusion over its fate had emerged.
The headlines prompted a brisk selloff but sentiment quickly recovered when Navarro, an outspoken critic of China, said his remarks had been taken out of context, and Trump later confirmed in a tweet the deal was fully in place. Banks, carmakers and technology shares led the share market gains, while the euro almost got above $1.13 and Italian and Spanish government debt benefitted in the bond markets.
World stocks have rallied since hitting a low in March amid worries about the jolt to the global economy from the coronavirus-driven shutdown. “I should think any pullback would be a catalyst for that pattern to resume, the conversations that I am having with clients is all about what to buy not what to sell.”
Despite Trump’s assurances on Tuesday, Menon expects U.S.-China tensions to escalate in the run-up to the U.S. elections.
That's not thumping data it's rationalization for what the Algorithms are doing. Look at the debt repayment figures by all of the unemployed and small businesses. The future is in no way bright for a long time. Renewables will keep eliminating fossil fuels and oil.
USA is buying assets privatizing it companies. That is Communism. What happened to capitalism.