Markets rally on positive European comments $BAC $EURUSD $XAUUSD

Last Updated on Monday, 19 September 2011 11:50

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US markets rallied to close the week out higher after positive comments from European legislators saw the market lock in its third highest weekly gain since 2009. The market also got a boost from traders positioning themselves before the FOMC meetings take place
Procter and Gamble led the gains on the Dow rallying by 2.5%, with tech giant Intel also posting gains of 2.00%. Financials were weaker with continued concerns about how Europe's debt issues will effect US banks. BAC, JPM and WFC fell 1.40%, 1.10% and 0.95%
RIM the makers of the Blackberry Smartphone's fell 18.99% overnight after a reported steep drop in quarterly profits due to falling sales
Dow Jones 0.66% S&P500 0.57% NASDAQ 0.58%
EURUSD pulled back to a low of 1.3662, with the GBP following suit.
THE US Dollar Index jumped above 77.00 this morning. AUD is dipping below the 1.0300 level this morning to post a 1.0280 low
Gold rallied to a US1828.15 high as investors await the outcome from current European debt negotiations. Oil is off trading around US87.00

Published by Spectrum Live Pty Ltd | www.spectrumlive.com

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