On Friday, stocks all over the globe enjoyed a rebound to three-week highs since the expected strong earning season took the spotlight following United States president Trump’s remarks on reconsidering his suggestion of a impending missile attack on Syria.
MSCI’s largest index of Asia Pacific shares out of Japan was up by 0.1 percent. While Nikkei of Japan rose 0.8 percent.
The. MIWD00000PUS also edged higher gaining 0.1 percent following its three-week high on Thursday.
Meanwhile in New York, the S&P 500 was up by 0.83 percent, spear headed by a 1.83 percent increase in financials as a robust quarterly result from BlackRock Inc supported optimism for corporate earnings.
Analysts predicts a quarterly profit of 18.4 percent increase for S&P 500 companies last year, making it the largest gain in seven years.
After U.S. president Trump said in a Tweet that the attack on Syria may not happen, the overall mood of investors improved, clearing fears of an instant military action which could lead to a broader conflict between Moscow and the Washington.
Trump also decided to reconsider his view on the Trans Pacific Partnership, asking his trade advisers to look into rejoining the multinational trade agreement that he withdrew the U.S. from last year.
Sony Financial Holdings economist Hiroshi Watanabe stated that the markets have been toyed around by Trump, with the goal of supporting his re-election. If his initial plan of protectionism fails, the U.S. president will likely divert his attention to international trade.