World stock markets are collectively taking steps forward as most major international markets are experiencing good gains.
The US stock index futures pointed to a higher open on Thursday morning, after the Dow closed above 20,000 points for the first time in the previous session.
Meanwhile, Asian stocks rose to three-and-a-half-month highs on Thursday. South Korea’s Kospi advanced 0.9%, Hong Kong’s Hang Seng climbed 1.2% and Shanghai edged up 0.2%. Japan’s Nikkei brushed aside a stronger yen to rise 1.4%. Out of the blue, they all did pretty well.
"Today’s excitement mainly comes from strong US stocks overnight, but people are also positive about Japanese companies’ earnings, especially machinery manufacturers," said Takuya Takahashi, a strategist at Daiwa Securities in Tokyo.
In the UK, most investors are delighted to see the FT index moving higher and higher for several days in a row.
Sterling has drawn its latest boost from the expectation that British Prime Minister Theresa May’s upcoming meeting with Trump would pave the way for a rapid US trade deal, which may offset some of the damage from its looming divorce with the EU.
But the one thing we have to acknowledge is that behind all of these stock market moves are the tenacious and aggressive moves by Donald Trump. First of all he needs to get the American economy moving, as well as several of the European and Asian allies.
The big challenge facing Donald Trump and his administration is the need to generate work. This he seems quite capable of doing, helped by his grandiose plans such as building the new "Mexican Wall". He also seems keen to stimulate the American car industry by putting money into both Ford and Chrysler.
If Trump is as successful as he first appears, he may not be as popular as he had hoped. But only time will tell if he is going to make a success of the American economy.
Jeremy Woods trained for three years as a journalist on the Herts Advertiser, St Albans, in the U.K. Once qualified, he left England to work as a crime reporter on the Vancouver Sun in Canada. After three years, he worked for the Los Angeles Times as a trainee financial journalist, spending most of his time reading company accounts and finding publishable stories in them. He moved to South Africa and for the last five years in journalism worked for the Sunday Times, Business Times, as Investment Editor. He has also published a financial thriller called "Special Payments", which was a best-seller on publication, and optioned three times for a film.