Global Stocks: Wall Street up, Nikkei flat, Chinese stocks rally on stimulus hopes
U.S. stocks traded higher on Friday with the focus on corporate earnings this week. The S&P 500 closed +0.52% with a final quote of 2,102.06 points. The DOW JONES index added +0.55%, closing at 18,057.65 points - above the psychologically important 18,000 points level again with the industrial sector leading shares higher. General Electric Company skyrocketed 11% after announcing a restructuring. Both indices are back in positive territory for the year.
Chinese stocks are rallying on hopes on further stimulus measures by the Chinese government after an unexpected drop in exports. Hong Kong's Hang Seng is trading +1.80% at 27,762.44 points. China's Shanghai Composite is currently trading at 4,108.27 points +1.83%. Last week was the fifth straight week of gains with the index up more than 70% in 6 months. The Chinese Trade Balance declined in March with exports slumping. The Balance fell to a surplus of 3.1 billion from 60.6 billion last month. Analysts expected a reading of 43.4 billion. Data on the Chinese GDP is scheduled for Wednesday.
The Nikkei closed almost flat on Monday after setting a new 15-year high on Friday and trading above the 20,000 points mark. The index declined on profit taking in choppy trade -0.01% and closed at 19,905.46 points.
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