Virtus Viewpoints | Duff & Phelps Market Review & Outlook - Focus on Global Growth
Written by John L. Creswell, Executive Managing Director
Despite natural disasters, rising tensions with North Korea, dysfunction in Washington, and continued acts of global terrorism, global equity markets continued their steady upward movement in the third quarter, with the S&P 500® Index up 4.5%, the Europe STOXX® 600 Index up 2.8%, the Nikkei 225 Index up 2.2%, and the Hang Seng Index up 7.4%. For the S&P 500, it was the eighth straight quarterly advance.
Investors appear to be ignoring the global distractions and are focused on a global economy that has truly gotten stronger. Global manufacturing readings continued to move higher, and consumer confidence remains robust. Company earnings are also finally growing as operating earnings for the S&P 500, STOXX, and Nikkei jumping significantly higher year to date.