investors brushed off comments from the chair of america s central bank, jerome powell, who s ruled out an interest rate cut next month. isaac poole, the global chief investment officer at 0reana financial services gave us his outlook on the interest rates and the markets earlier. what we are seeing here is the market really continuing to expect significant rate cuts from the fed and that has helped drive forward returns, as you say, this target was what we were expecting to hit at the end of the year, but we have seen a little bit better than expected economic data is also helping optimism, that earnings growth might pick up a bit in the next few months. so this is all bit in the next few months. so this is all about expectation for rate cuts, mr optimism because of strong earnings? i think it really does reflect rate cut expectations and a growing belief that the us can have a soft landing, because when you look at earnings growth, actual earnings growth has been slow and
across the region. they re venting their anger over soaring fuel and fertilizer costs, low prices for their produce, and increasingly restrictive eu regulations. demonstrations by farmers are planned in poland, hungary and italy today. italy s government has promised tax breaks to ease hardship for farmers after hundreds began gathering with their tractors this week, on motorways outside rome and turin. this was the scene on thursday. and in cyprus, farmers blocked the entrance to the european union s offices in nicosia, on thursday. there were also demonstrations in bulgaria. and more tractor protests across spain for the third day in a row, with farmers disrupting traffic in barcelona, and in smaller cities all over the country. they say eu rules to protect the environment make them less competitive. they have also had to compete with imports from ukraine after brussels waived duties and quotas after the russian invasion. this and renewed eu talks on a south america trade d
helped drive forward returns, as you say. this target was what we were expecting to hit at the end of the year, but we have seen a little bit of better than expected economic data also helping optimism that earnings growth might pick up a bit in the next few months. so is this all about expectation for rate cuts? is the optimism because of strong earnings? i the optimism because of strong earninus? ~ ., , earnings? i think it really does reflect earnings? i think it really does reflect rate - earnings? i think it really does reflect rate cut - does reflect rate cut expectations and the growing belief that the us can have a soft landing, because when you look at earnings growth, actual earnings growth has been slow and negative for some companies. growth is slowing, it does cast doubt on the possibility of a re acceleration in the interim here. so it leaves that rally a little vulnerable to any failure to reach those expectations. japan s nikkei has crossed the 37,000 mark f
continued to expect continuing to read cuts from the fed, which is held jack forward returns. as you say, this target is what we were expected to hit at the end of the year but we have seen a bit better than expected economic data that is hope and optimism that things might pick up in the next few months. is that things might pick up in the next few months. is this all about the next few months. is this all about expectation - the next few months. is this all about expectation for - the next few months. is this | all about expectation for rate cuts was to mark as their optimism because of strong earnings? it optimism because of strong earnings? optimism because of strong earninus? . , ., . earnings? it reflects rate cut exnectations earnings? it reflects rate cut expectations undergoing - earnings? it reflects rate cut l expectations undergoing belief that the us can have a soft landing, when you look at earnings growth, actually earnings growth, actually earnings growth