Skip to content
Subscriber Only

Stress at the UN Is Not Shared on Wall Street

  • World’s investors are pleased with the global economy
  • Many issues that preoccupy UN don’t immediately affect profits
Bloomberg business news

UBS' Smiles Says Fundamentals Are Driving Markets

The United Nations and Wall Street are farther apart than they appear on a map of New York City. Stress is running high this week at First Avenue and 42nd Street, home of the UN. Down near Manhattan’s southern tip, there’s nothing but smiles at the New York Stock Exchange. The S&P 500 Index and the Dow Jones Industrial Average set records again on Sept. 19.

The world’s investors, not just those in New York, are pleased with the global economy, which the International Monetary Fund expects to grow 3.5 percent this year. JPMorgan Chase Chief Executive Officer Jamie Dimon said Sept. 19 in a conference call with reporters that “this is the first time in 12 years we’ve seen all the major countries of the world doing OK.”