U.S. stocks rose Friday afternoon, trading near session highs, as the major benchmarks aim for their most robust weekly gains in a month. Sentiment was buoyed by encouraging headlines on U.S.-China trade negotiations and Chinese assurances of forthcoming economic stimulus.
Li also addressed weakness in the world’s second-largest economy and pledged to maintain strong stimulus measures, like lowering interest rates, cutting bank reserve ratios, and cutting taxes for consumers and businesses, boosting investor confidence that a stabilizing Chinese economy could stem a recent trend of slowing global growth.
Trade talks between the two of the globe’s largest economies has been chief among concerns for investors because an heated war between the two have the potential to hurt economies world-wide. The report also showed capacity utilization falling slightly to 78.2% in February, from 78.3% in January. “You’re seeing smaller cap companies do well, which indicates a risk-on mood on Wall Street,” he added, pointing to strong consumer confidence data as reason to believe that the U.S. economy’s expansion has more room to run.
Amazon Inc. AMZN, +1.13% stock rose 0.5% early Friday, after KeyBanc Capital raised its rating on the stock to overweight.
Source: News Formal (newsformal.com)
Reminds me of 2007 all over again. Hope is not a strategy - neither is optimism. All forecasts of global economic data shows a massive slowdown but markets rise on optimism. Crazy.
Let's be honest. The market is just frontrunning QE4.
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