Investors got what they wanted from the Federal Reserve. Unfortunately two other big factors for stock markets—global trade growth and China—are unlikely to be as accommodating. After dovish language from the Federal Reserve boosted markets Wednesday, investors got another reprieve Thursday. China’s official purchasing managers index showed manufacturing contracting for the second month in a row in January, but not rapidly deteriorating as in December. Services activity rose at its quickest pace since June—another sign that...

Source: Wall Street Journal January 31, 2019 08:03 UTC