Stocks prices gained Asia and Europe and futures for the benchmark U.S. gauge advanced as equity markets sought to shake off the worst week of the year. The dollar nudged higher. It was the Oil and gas companies that led in the Stoxx Europe 600 index’s in four sessions, with contracts on the S&P 500 and Nasdaq also pointing higher.
Stocks are coming off the worst week since December after a slew of negative news about the global economy, including a weak American jobs report and a sharp dovish turn by the European Central Bank. The S&P 500 failed to hold above 2,800 — a level that has capped prior rallies — and its decline accelerated after it slid through the average price over the past 200 days.
With the crash of Boeing CO.’s 737 Max in Ethiopia where more than 150 people were killed, the stocks of the Boeing company have really dropped especially with the report by the China government to ground all the Boeing CO.’s 737 airplanes.
“With the Fed taking an easier path rather than continuing to raise interest rates, the outlook for equities is relatively constructive,” Hans Goetti, founder of HG Research, told Bloomberg TV from Singapore.
A slew of data releases this week will be closely watched for clues on growth and the impact of central bank policy in the U.S., European Union, and China, with the Bank of Japan the next to meet. On the trade front, Beijing and Washington are in general agreement on many crucial issues and have held meaningful discussions on foreign exchange, People’s Bank of China Governor Yi Gang said.