Marketmind: Record S&P500 eyes 5,000, China deflated
Infused with another strong earnings season and calmer bond markets, a record high S&P500 now looks to vault the 5,000 point hurdle for the first time - just as China's worrying deflation deepens into its Lunar New Year break. With U.S. economic growth above 3%, unemployment below 4% and aggregate annual profit growth above 8%, the S&P500 has raced up 21% since late October. Excluding China's ailing market, the MSCI World index of developed economy stocks hit a record on Thursday too - having breached the January 2022 high earlier this week.