U.S. stocks were in rally mode on Thursday, with the main indexes bolstered by relatively strong economic data, better-than-expected earnings and a strong hint that Europe’s central bank may expand measures to combat sluggish global growth.
Brad McMillan, chief investment officer at Commonwealth Financial Network, said fears about waning growth in China—the world’s second largest economy—are subsiding, fueling buying appetite.
“I think that what you’re seeing is a realization that the world isn’t going to end after all,” said McMillan. Late summer fears resulted in U.S. stock indexes experiencing their worst rout in years. Read more
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