Saxo Group Videos

Garnry: Why this stock market surge won't end soon

A great week for stock markets, the S&P 500 now three times its 2009 low and the FTSE 100 a shade off a 52 week high. The Dow Jones industrial average has been above 17,000 for the first time. The Nasdaq was up more than five percent for the year. Everywhere you look there appears to be good news. Wall Street must be really enjoying the Independence Day celebrations.

The main reasons were thanks to good global economic data from the world's two largest economies; the US and China. The latest Non Farm Payroll figures were very welcome with an increase of 288,000 jobs and a reduction in the unemployment rate down to just over six percent .

In China a healthy PMI for June saw stocks rise, with the Shanghai composite up around one and a half percent and the FTSE China A50 up more than three percent.

Things seem so good in equities that even the Greek stock market is one of the best performers of the week. Saxo Bank's Head of Equity Strategy, Peter Garnry, looks into the week's results and analyses why the stock markets are enjoying a mini boom.

02:53 minutes
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