Market Talk- February 15th, 2017

by Martin Armstrong
Armstrong Economics

Following from the constructive message the market was hearing from the FED, the Nikkei regained the 1.05% it lost yesterday. This proved to be an impressive performance when considering Toshiba shares dropped 9% amid a potential book write-down of $6.3bn to its US nuclear unit. Hang Seng built on yesterday’s gain adding another +1.2% reaching a 15 month high on news of record bank loans. Yesterday’s China data beat for both CPI and PPI was still a discussion point even today. CPI forecasted at 2.4% and was released at 2.5% beating the previous 2.1%, whilst PPI performed even better with expectations at 6.3% came in at 6.9% way better than the previous 5.5%. With CNH again breaching the 6.850 level again many believe the market has much more to run. In late US trading futures, there was little change after the final day of the FED address.

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