Global stocks climbed higher after the S&P 500 reached a record high, fueled by President Donald Trump's call for lower interest rates and cheaper oil prices. Trump, speaking at the World Economic Forum in Davos, urged for immediate interest rate reductions globally. Investors are also anticipating the Federal Reserve's FOMC meeting on Wednesday, where no change in interest rates is expected. Meanwhile, Chinese equity markets will be closed from Tuesday for the Lunar New Year holiday.
The U.K.'s FTSE 100 is set to open marginally positive, while Germany's DAX and France's CAC 40 are expected to open higher by 0.4%, according to FactSet futures data., stocks climbed higher after the S&P 500 hit a record high in Thursday's trading session in the U.S. as President Donald Trump called for lower interest rates and cheaper oil prices.
Speaking via video to an assembly of global leaders at the World Economic Forum in Davos, Switzerland, the new president in a wide-ranging policy speech did not mention the Federal Reserve by name but made clear he would seek lower rates. "I'll demand that interest rates drop immediately," Trump said."And likewise, they should be dropping all over the world. Interest rates should follow us all over."Investors are also likely to be looking ahead to the Fed's FOMC meeting on Wednesday with no change expected to interest rates. Elsewhere in China, equity markets will be closed from Tuesday for the Lunar New Year holiday.
GLOBAL STOCKS INTEREST RATES TRUMP FEDERAL RESERVE LUNAR NEW YEAR
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