07 August 2018 ( Lagos): Asian stocks rallied on Tuesday, following a surge on Wall Street that sent the S&P 500 to a near all-time high and the Cboe’s Volatility Index to its lowest level since late January.

The strong earnings season has been the key factor lifting U.S. stocks. With 24.1% earnings growth and more than 79% of S&P 500 companies managing to beat profit forecasts it looks to be the best earning season in recent history. However, as we get closer to the end of company announcements, the focus will return to trade frictions, geopolitics and the forthcoming U.S. mid-term elections.

Source: Hussein Sayed, Chief Market Strategist at FXTM

Reporting for EasyKobo on Tuesday ,07 August 2018 in Lagos, Nigeria