The Presidential Daily Brief

important

  1. a trader on the floor of the US stock exchange

    Global Markets Find Calmer Waters

    Phew! That’s the mood among investors in Europe and Asia this morning, after U.S. markets soared nearly 4 percent yesterday and Chinese markets jumped today. Fed member William Dudley helped, declaring that arguments for a September interest rate increase were “less compelling” after recent market turmoil, which saw a week of record negative spikes and one-day drops. Chinese authorities, who recently lowered interest rates, reportedly bought up blue-chip shares today and juiced a 5.3 percent surge in the Shanghai Composite Index. New U.S. economic data is also looking up, encouraging traders — not to mention a 200-point Dow jump when New York markets opened.

This story is part of The Presidential Daily Brief

view full edition