Global Stocks up as Trump turns on his Syrian threat

Global stocks turned upward on Thursday after US President Donald Trump appeared to take the heat out of Syria attack fear, he had earlier warned Russia to be warned as new smart missiles were on their way to Syria.

With the Syrian situation on the table, according to news, US President is yet to confirm an action plan with UK and France who are expected to be part of the joint action team against Syria.

Investors were buoyant at the announcement of President delaying the attacks on Syria. US and European markets had fallen on Wednesday on worries about US action on Syria, following a more bellicose tweet.

Other factors in the rally included optimism over the upcoming corporate earnings season and signals the US president will consider rejoining a major Pacific trade pact.

US stocks finished solidly higher, with the Dow Jones Industrial Average climbing 1.2 percent

Frankfurt closed with a gain of 1.0 percent, while Paris won 0.6 percent.

“Never said when an attack on Syria would take place,” Trump tweeted early Thursday. “Could be very soon or not so soon at all!”

“The president's tweet seemed to help ease fears regarding the situation in Syria — or, at the very least, temporarily put it out of investors' minds,” analyst Patrick O'Hare said.

Trump met with military advisors on Syria later Thursday and was to speak with French President Emmanuel Macron and British Prime Minister Theresa May on the action the allies might take, White House press secretary Sarah Sanders said.

Stocks also were also boosted by optimism over the upcoming earnings period, which begins in earnest Friday with reports from JPMorgan Chase and other large banks.

And Trump has directed his trade officials to review reentering the 11-nation Trans-Pacific Partnership, which he exited in one of his first acts as president in January 2017.

Key Market Figures

New York – Dow: UP 1.2 percent at 24,483.05 (close)

New York – S&P 500: UP 0.8 percent at 2,663.99 (close)

New York – NASDAQ: UP 1.0 percent at 7,140.25 (close)

London – FTSE 100: UP less than 0.1 percent at 7,258.34 (close)

Frankfurt – DAX 30: UP 1.0 percent at 12,415.01 (close)

Paris – CAC 40: UP 0.6 percent at 5,309.22 (close)

EURO STOXX 50: UP 0.7 percent at 3,443.30 (close)

Tokyo – Nikkei 225: DOWN 0.1 percent at 21,660.28 (close)

Hong Kong – Hang Seng: DOWN 0.2 percent at 30,831.28 (close)

Shanghai – Composite: DOWN 0.9 percent at 3,180.16 (close)

Euro/dollar: DOWN at $1.2329 from $1.2367 at 2100 GMT on Wednesday

Dollar/yen: UP at 107.26 yen from 106.79

Pound/dollar: UP at $1.4230 from $1.4177

Oil – Brent North Sea: DOWN 4 cents at $72.02 per barrel

Oil – West Texas Intermediate: UP 25 cents at $67.07 per barrel

Posted on: 2018-04-13T10:05:00+05:00