The launch of JPMorgan’s results brought about a rise in the global stock markets. The result brought about a launch of U.S. corporate earnings in a grand fashion, and on the other hand, the indications that China’s economy is entering a more stable phase, maintained the good news all around.
Investors are hoping that there will be more signs of Chinese recovery to allay global market fears, coming from the back of the International Monetary Fund downgrading its economic outlook for the third time this year already.
It is not all doom and gloom, as China’s credit data, along with trade results have been able to cement the stabilization reports and enhance risk appetite, both of which would have had an adverse effect on the global economy.
Exports rebounded last month according to Chinese data, and thus it was able to help dislodge poor imports, while also cutting down German growth forecasts.
On Wall Street, The Dow Jones observed 186.88 points rise (0.71%, to 26,329.93) the S&P 12.47 points rise (0.43%, to 2,90.79), and the Nasdaq observed 19.07 points rise (0.24%, to 7,966.43)
German growth concerns did not stop the euro from gaining, and the European market was able to shake off a poor start. JPMorgan performance led to some impressive points for European and U.S banks.
All of this positive news will help reduce the tension built up by the unending US-China trade war.
Crude oil’s surprising start to 2019
There have been some exciting achievements for crude oil in 2019. Notably, Brent finally broke the insurmountable $70 barrier by registering $71.4 a barrel. Brent crude oil futures climbed to $71.47, and West Texas Intermediate crude oil futures rose to $64.22.
The strong prices oil currently attracts prompted Chevron to act quickly, and plan to buy Anadarko Petroleum Corp for $33 billion in cash and stock.