Today,we expect the bulls to extend last week’s advance. Asian markets are mostly up, taking their cue from the positive finish on Wall Street. Though the undertone is upbeat, the market will remain volatile. Near-term support is expected at 4900 while resistance may kick in upwards of 5100.
The health of the global economy seems to be getting better and better, if the latest GDP data from Europe and Japan are anything to go by. The US has already moved out of recession. Growth in emerging economies too has picked up pace. Markets are trading near their year’s high. But the UK is still in the red among the major economies.
There is a camp which is skeptical about the ongoing recovery. There are apprehensions as to whether the green shoots will stop growing in the absence of stimulus. There are also concerns about possible asset bubbles. Then there is a camp which is positive and hopeful, including the globally renowned investor Warren Buffett. Only time will tell which of these camps wins.
The health of the global economy seems to be getting better and better, if the latest GDP data from Europe and Japan are anything to go by. The US has already moved out of recession. Growth in emerging economies too has picked up pace. Markets are trading near their year’s high. But the UK is still in the red among the major economies.
There is a camp which is skeptical about the ongoing recovery. There are apprehensions as to whether the green shoots will stop growing in the absence of stimulus. There are also concerns about possible asset bubbles. Then there is a camp which is positive and hopeful, including the globally renowned investor Warren Buffett. Only time will tell which of these camps wins.
