Asian stocks rose this morning as Wall Street hits record high. This was in the hope that the current trade negotiations may lead to a further easing of global trade tensions.
Meanwhile second quarter economic growth for the U.S. was a bit stronger than expected. It’s the best performance in nearly four years. GDP increased at a 4.2 percent annualized rate putting the economy on track to hit the goal of 3 percent annual growth.
Closer to home, Australia’s capital expenditure unexpectedly declined in the second quarter by 2.5percent. While, New Zealand’s business confidence reading dipped to 50.3 in August.