Stocks were supercharged on the back of US and China holding talks that, according to sources, are moving forward. This positive news comes at a much-needed time when the US saw its unemployment rate jump from 4.4% to 14.7% in only one month. Germany saw an export plunge of 14% in March, a number that could have deep impact on its economy. Keep in mind that the US, Germany and a growing list of other countries all saw their economic figures break down in what some are now saying is the beginning of the worst depression in 300 years. Despite these negative reports on major economies, DAX and FTSE rallied over 1.5% as China suggested that the Phase 1 part of the trade deal would be implemented. Look for the US and other markets to trade firm on the first day next week, Monday, however, there are still many questions that point to a growing gap between economic growth and fundamentals compared to stock market strength. People are buying stocks in a world in which economies are falling apart, and falling apart very fast.
US and China Relations Warming; Stocks Rally
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