JPMorgan profit eases economic fears
NEW YORK - Global stocks rose on Friday after JP Morgan’s results kicked off the U.S. corporate earnings season in style, while signs of stabilization in China’s economy helped riskier assets amid talk that the growth outlook worldwide is better than thought.
Investors are looking for signs of a Chinese economic recovery to temper global growth worries, especially after the International Monetary Fund this week downgraded its 2019 world economic outlook for the third time. U.S. stocks rallied on JPMorgan and an 11.5% jump in Walt Disney Co shares, which lifted the Dow Industrials by 1% and helped the S&P 500 total return index post a record close.
Regional lenders in Europe, including StanChart, Deutsche Bank, BNP Paribas and Credit Suisse, also rallied on JPM’s results, taking the European bank index up 1.9 percent to a five-month high. The dollar index fell 0.21%, with the euro up 0.38% to $1.1293. The Japanese yen weakened 0.30% versus the greenback at 112.02 per dollar.
Involuntary supply cuts in Venezuela, Libya and Iran have supported perceptions of a tightening market, already constrained by production cuts from the Organization of the Petroleum Exporting Countries and its allies.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Killer hog disease now a 'dire situation' in China that could lead to higher global pricesAs African swine fever continues to ravage China's hog herd, the impact may be far worse than Beijing is conceding. It could lead to significant shortages of the country's staple meat and drive up global prices of protein, according to experts.
Baca lebih lajut »
Global markets are rallying on China and Jamie DimonStocks are rallying around the world on strong China economic data and Jamie Dimon's supportive comments on the U.S. economy.
Baca lebih lajut »
Why 'Star Wars' is a global phenomenon in just about every country — except ChinaGeorge Lucas' space opera is a cornerstone of the modern film industry and a cultural phenomenon around the globe. So, why has it flopped in China?
Baca lebih lajut »
Pompeo slams China, Russia involvement in VenezuelaU.S. Secretary of State Mike Pompeo on Friday accused China of aiding Venezuela&...
Baca lebih lajut »
China warns Australia at WTO about 5G restrictionChina told Australia at the World Trade Organization on Friday that Australia&0...
Baca lebih lajut »
Larry Fink just revealed how BlackRock is going to keep growing at its torrid pace: ChinaBlackRock is aiming to become a leading asset manager in China, chief Larry Fink revealed in his annual letter to shareholders.
Baca lebih lajut »
Here's how China could launch a 10-plus-year 'super-cycle' in commodities — one that survives the next global recessionWells Fargo says that soon, China will kick off a boom in food commodity prices similar to the industrial commodity bull market it led in the 2000s.
Baca lebih lajut »
Donald Trump’s trade wars are hurting the world economy, IMF warnsThe ongoing U.S.-China trade dispute kicked off by President Donald Trump is helping to weaken the global economy, the International Monetary Fund said.
Baca lebih lajut »
Trump warns of 5G competition, but no mention of China or HuaweiAmid ongoing trade talks with Beijing, President Donald Trump heralded the success of the American private sector for building 5G while warning of foreign competition, but in a marked departure for his administration made no specific mention of China.
Baca lebih lajut »
Pompeo, Chile's Pinera discussed Venezuela, trade war with ChinaU.S. Secretary of State Mike Pompeo and Chilean President Sebastián Piñera discu...
Baca lebih lajut »