"Sea Of Green" Across World Markets As Trade Talk Optimism Storms Back
One day after Bad economic news was briefly bad news again - when a barrage of US economic data misses hammered the S&P - the trusty old "trade talk optimism" is back with a vengeance, and the result is a sea of green in global markets, with European stocks and US equity futures trading at session highs ahead of today's main event, President Trump’s scheduled, and apparently quite bullish, meeting with China’s top trade negotiator in Washington. Also helping is the avalanche of Fed speakers, which today will see no less than 8 Fed speeches spreading the dovish gospel among BTFD algos everywhere.
8:15 AM Atlanta Fed President Bostic (FOMC non-voter) speaks
10:15 AM New York Fed President Williams (FOMC voter) and San Francisco Fed President Daly (FOMC non-voter) speak
12:00 PM Fed Vice Chairman Clarida (FOMC voter) speaks
12:30 PM New York Fed Executive Vice President Potter speaks
1:30 PM Vice Chairman for Supervision Quarles (FOMC voter) speaks
1:30 PM St. Louis Fed President Bullard (FOMC voter) speaks
1:30 PM Philadelphia Fed President Harker (FOMC non-voter) speaks
5:30 PM New York Fed President Williams (FOMC voter) speaks
And so one day after markets perplexingly closed in the red, US markets are set for a higher open, following similar moves across the world.
Following a mixed session in Asia, European stocks, bonds and FX markets traded near session highs in anticipation of more optimistic headlines from top-level trade talks between America and China, while ignoring the latest disappointing German data, where all February IFO survey components (business confidence, current assessment, expectations) fell from prior month, and missing forecasts while Germany's final Q4 GDP of 0.0% was unrevised from the preliminary print.
Mining and technology shares led the advance in the Europe Stoxx 600 Index as Bloomberg’s industrial-metals subindex headed for its highest level since October, as positive earnings from companies drove big stock swings as European markets opened, with traders now awaiting European Central Bank President Mario Draghi’s a speech later Friday.
In the final Euro-area CPI data, both core (1.1%) and headline (1.4%) were unrevised from preliminary readings. More notably, ECB's Nowotny said the central bank has no conclusions yet on TLTROs, and expects a decision on targeted loans to come later than March, adding that the Governing Council has until summer to reach a decision. Over in Sweden, central bank head Ingves says risks are now mostly on the downside, noting that if risks were to materialize Riksbank policy would need to be adjusted.
Across the Atlantic, futures on the Dow, S&P 500 and Nasdaq Composite indexes all climbed, even as Buffett darling Kraft Heinz plunged to the lowest on record after announcing a $15.4 billion writedown late Thursday. The S&P is now up 8 of the past 9 weeks.
rest at link
https://www.zerohedge.com/news/2019-02-22/sea-green-across-world-markets-trade-talk-optimism-storms-back
https://www.bloomberg.com/markets/stocks/futures
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