
Tariff de-escalation, dovish Fed & Alphabet earnings boost appetite
Yesterday allowed global risk investors to take a deeper breath. Dovish comments from Federal Reserve (Fed) members, and de-escalation of trade tensions between the US and China allowed a further recovery in global equities. Optimism was backed today by the Chinese announcement that it is considering easing tariffs on some US imports, further signalling de-escalation of trade tensions and supporting earlier comments from the Trump administration that triple-digit tariffs could come ‘substantially’ down.
On the individual front, Google - that announced its latest results yesterday after the bell - showed better-than-expected revenue growth for both its advertising and cloud segments,...