Good financial news from the USA is causing the world's stock exchanges to turn upwards.
By 10:30, the broad OMXS index has risen by 1.8 percent. Among the winners, lock giant Assa Abloy stands out, which released its quarterly report this morning, up 3.8 percent. Truck giant Volvo is also up 1.5 percent, despite an initial decline, although the quarterly profit fell more than expected.
Even during the Asian trade overnight, the stock market indicators pointed to plus. Both the Tokyo and Hong Kong stock exchanges are up around two percent this morning Swedish time.
And ahead of the opening on Wall Street this afternoon, futures are trading on plus.
The reason is, among other things, that the USA has indicated that the trade war against China is not sustainable. President Trump also announced overnight that he has no plans to fire Fed Chairman Jerome Powell.
Thus, the financial markets are partially restored. The gold price is falling back, the oil price is rising, and American government bond yields are falling, while European yields are rising.
The krona, however, is maintaining its strengthened position. One dollar now costs 9.58, while the euro is quoted at 10.91.
