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Mid-Day Recap: Equity Gains Erase Last Week’s Losses
A global advance in equities helped US stocks continue to rally on Tuesday. The last two days have seen stocks rise enough to erase losses from the previous two weeks. Indeed, the S&P 500 is just 15 points shy of the 2009 peak reached on Sept. 22. Commodities are also the rise. WTI crude has been driven up $1.40 to $71.81 per barrel, while gold has added $22.80 to a new record high at $1,040.60 per ounce. Meanwhile, the US dollar remains weak against a broad array of currencies, in part due to a report from the UK’s Independent stating
Equity Markets Higher While Dollar Slips
Futures in the S&P 500 are trading 10 points higher this morning following a global rally. In Asia, the Nikkei moved up slightly after three consecutive losses and shares in Hong Kong shot up 1.9% (China’s markets are closed all week). In Europe, the DAX is currently up 1.7%, followed by a 1.6% gain in British shares and a 1.5% in the CAC-40.rnrnThe dollar is generally weaker following a report from the UK’s Independent stating that multiple countries plan to stop trading crude oil in greenbacks. The newspaper said a number of Gulf states were in secret talks with Russia,
Mid-Day Recap: Markets Recovering After Two-Week Struggle
Trading has been volatile in the first 90 minutes on Monday but markets now appear to have found a direction. The only data release this morning was the ISM services index, but despite a much better reading than anticipated, the reaction on Wall Street was mixed. Stocks actually turned lower after the 10:00 am release, but 20 minutes later equities began climbing.
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