US stocks rally on positive earnings news $CAT:xnys

Last Updated on Tuesday, 25 October 2011 12:42

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US markets rallied again overnight coming close to wiping out the year to date losses, leading the momentum higher were better earnings data and continuing progress by European officials in addressing the debt crisis
Improved manufacturing data from China and better than expected exports from Japan also encouraged investor’s risk appetite
The US Government has introduced a new mortgage relief program to enable struggling home owners to refinance their homes
Caterpillar jumped 5.01% to lead the Dow higher after its earnings showed a 44% surge in income on the back of stronger exports
Netflix shocked the market with a Q4 forecast that fell well below expectations. The stock reacted by falling 26.4% in the post market
Dow Jones 0.89% S&P500 1.29% NASDAQ 2.35%
EURUSD rallied to an over 6 week high as investors look to Wednesday's Euro summit for a creditable long term solution to the debt crisis. Commodity driven currencies also rallied with the AUD near 1.05
Gold rallied on potential QE3 talk and Crude surged higher jumping 4.7%

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

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