The Nikkei has continued to go from strength to strength in this morning's (May 10th) trading and the index has reached a new five-and-a-half year high.
In the early hours of trading today, the Nikkei stock average .N225 rose by three per cent to its highest point since January 2008.
London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX are all predicted to open up as much as 0.2 per cent this morning, reports Reuters.
Carl Larry, president of the Houston-based Oil Outlook and Opinions, stated that the US economy has turned a corner and this is supporting markets all over the world
He said: "What you need to understand about what is going on in the US is that we're growing, this recovery is real."
The Nikkei rose by 0.7 per cent yesterday morning on the back of strong gains from technology company Sharp Corp, which is one of the biggest companies on the index.
Learn about the Asian markets and CFD trading at City Index
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.