Asian markets rose in early trading Thursday, following record closing highs for U.S. stocks in a shortened trading day. Investors cheered signs that global monetary policy will become more stimulative in the months ahead after International Monetary Fund Managing Director Christine Lagarde was nominated to replace Mario Draghi as the head of the European Central Bank. Also, President Donald Trump said he would nominate Christopher Waller, the research director at the St. Louis Fed, and Judy Shelton, the U.S. executive director for the European Bank of Reconstruction and Development, for influential posts on the Federal Reserve’s Board of Governors. Shelton has backed interest-rate cuts, and Waller is an easy-money advocate.
On the trade-war front, White House economic adviser Larry Kudlow said that high-level U.S. and Chinese negotiators would talk on the phone next week to set up a new round of face-to-face meetings.
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