Marketmind: Record S&P500 eyes 5,000, China deflated
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The S&P500 is on track to reach a record high of 5,000 points for the first time, buoyed by strong earnings and calmer bond markets. The index has risen 21% since late October, with US economic growth above 3%, unemployment below 4%, and annual profit growth above 8%. However, China's economy is facing deflationary risks, with consumer prices falling at their steepest pace in over 14 years in January. The MSCI World index of developed economy stocks hit a record high, excluding China's market. Hong Kong's Hang Seng Index fell 1.3% after Alibaba missed revenue estimates. The Federal Reserve is in a 'wait and see' mode, with futures pricing in an 80% chance of a rate cut by May. Weekly jobless claims and speeches by central bank officials will be closely watched.

#S&p500 #China #Economy #Deflation #Earnings #BondMarkets #MsciWorldIndex #HangSengIndex #Alibaba #FederalReserve #RateCut #JoblessClaims

https://www.investing.com/news/commodities-news/marketmind-record-sp500-eyes-5000-china-deflated-3297008