As Hurricane Irma Wanes, Stocks Rise

September 12, 2017
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After a week of uncertainty in the markets caused by North Korea and Hurricane Irma, stocks have been back up on a return to normalcy.  “Whilst the damage is bad, it’s not quite as bad as many people expected,” said James Butterfill, head of research and investment strategy at ETF Securities. He said government spending in the aftermath of natural disasters often boosts riskier assets such as stocks over the long term. U.S. President Donald Trump signed a bill on Friday that included $15.25 billion in hurricane-related aid. Wall Street stocks futures rose, with the S&P 500 eyeing a fresh all-time high after hitting a record closing level in the previous session.”

This positive outlook is shared by many analysts who hope that the record highs around the world are just a sign of more positive news to come.

As for North Korea, “relief that they did not test-fire missiles or conduct nuclear weapon tests over the weekend as some had feared. The U.N. Security Council on Monday unanimously stepped up sanctions against North Korea over its sixth and most powerful nuclear test, imposing a ban on its textile exports and capping its imports of crude oil.”

Keep an eye on your portfolios today, as the gains should carry through the day.

Read more at financialexpress.com

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