Germany recession fears grow, but trade war optimism boosts markets – business live

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All the day’s economic and financial news, as Germany’s factories suffer a 4.7% annual drop in output

Top US banker Jamie Dimon has added to the optimism on Wall Street, by suggesting that investors got carried away with recession fears in recent weeks.

CNBC has the details:

Markets from equities to high-yield bonds that have been flashing warning signs are probably an overreaction to slowing growth rather than a precursor of imminent recession, according to J.P. Morgan Chase CEO Jamie Dimon.

“I think markets are overreacting to short-term sentiment around a whole bunch of complex issues,” Dimon said in a Fox Business interview released Tuesday. He quickly added that the market moves were a “rational response” to slower growth and the U.S.-China trade dispute.

Jamie Dimon says that recent market moves don’t mean a recession is on the immediate horizon. https://t.co/1RTaevT5Yc

Reuters’ Jamie McGeever tweets:

The S&P 500 is course for a positive first 5 days trading of the year. If the “5-Day Rule” holds, there's an 80% chance it will close the 2019 up. Is this a useful guide, or mumbo jumbo?
COLUMN-Back to school, keep an eye on the "5-Day Rule"https://t.co/GDOUHmds5u pic.twitter.com/oMZrqRXm98

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