U.S equity markets continue to push to record highs $
- Published: 12 March 2013
- U.S equity markets continued recent gains with the Dow Jones pushing to record high whilst the S&P 500 came within 9 points of its high.
- The markets were buoyed by strong gains in the financial sector along with solid gains seen in Boeing Co, Merck and Co and with American Express which posted gains in excess of one percent. Wells Fargo and Citigroup posted gains of 1.7%. The price action last night would have well and truly seen the take profit objective in Wells Fargo achieved
- The VIX Index fell 8.2% to 11.56 which was its lowest reading since February 2007
- European markets were weaker initially as ratings agency Fitch cut Italy's credit rating to BBB+ with a negative outlook ahead.
- Ten Year U.S Treasury yields closed up 1.5 basis points to close at a high of 2.06 percent which was an 11 month high.
- DOW +0.35%, S&P500 +0.32% and NASDAQ +0.26%
- The Pound traded down to 1.4866, its lowest level against the U.S dollar since June 2010.
