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Markets soar overnight $BHP:xasx $BAC $CAT
Last Updated on Tuesday, 11 October 2011 15:25
- US markets rallied hard overnight to mark the best five day gain since December of 2008. Volume was light due to the Columbus Day Holiday but traders jumped on the positive momentum coming from Europe after German and French officials pledged support for Europe's strained banks
- US indexes have experienced a strong run of late with the S&P500 rallying 11% from last Tuesday’s intraday low. All sectors were up last night with financials, energy and materials stocks leading the gains
- US market attention will now turn to the pending quarterly reporting season with Alcoa unofficially kicking off results tonight
- Other Dow stocks that led the charge were BAC, JPM, CAT, AXP and TRV which rallied 6.44%, 5.21%, 4.78%, 4.65% and 4.29% respectively
- Dow Jones + 2.97% S&P500 + 3.41% NASDAQ + 3.50%
- USD was weaker overnight with risk back on the table, EUR jumped to a high of 1.3697 and the AUD peaked above parity overnight
- Gold rallied 2.3% on thin trading and Crude jumped 3.4% at USD85.79
Published by Spectrum Live Pty Ltd | www.spectrumlive.com
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