A look at the day ahead in U.S. and global markets from Mike
Dolan
As a frenetic period of macro and corporate news calms,
investors have emerged pretty buoyant about the state of.
As a frenetic period of macro and corporate news calms, investors have emerged pretty buoyant about the state of world markets - with global stock indexes clocking 2-year highs on Wednesday. But even as Chinese authorities still struggled to draw a line under the relentless market rout there - and Hong Kong stocks slipped back again on Wednesday despite further mainland market gains - the picture elsewhere was brighter. With over half of S&P 500 companies having reported fourth-quarter updates, more than 80% have beaten forecasts and aggregate annual earnings growth for the three months is tracking 8.1% - almost twice expectations just a month ago.
Downbeat Wall St markets wondering if they've jumped the gun on interest rate cut speculation switched attention to China's spluttering economic engine and eyed a holiday retail readout. World markets seemed to have returned this week to the 'glass half empty' view of 2024 that they started the year with - irked by edgy inflation updates, obstinate central bankers, a mixed start to the earnings season and worrying pockets of economic weakness. Still murky geopolitical developments in the Red Sea and elsewhere and what that may mean for shipping and goods prices, the onset of U.S. election year and congressional budgetary wrangling have also helped sap bond and stock markets.