European debt concerns continue to drive market $HD:xnys $HPQ

Last Updated on Tuesday, 08 November 2011 10:08

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Markets bounced around in a volatile session with the major US indexes spending most of the session in negative territory. Markets then rallied later in the afternoon on news that Greece will receive the latest tranche of funding therefore avoiding a potential default on its obligations
Italy has now moved into focus with investors as Italian bond yields spike to Euro era records as investors demand more return to invest in Italian Bonds. PM Berlusconi has thus far rejected calls for his resignation
Energy stocks were led higher as Crude rallied to a three month high. NBR, PBR, CVX and XOM rallied 4.01%, 2.76%, 1.21% and 1.06%
Leading the gains on the Dow was HPQ, HD, INTC, MSFT and PFE which rallied by 3.37%, 2.61%, 2.27%, 2.10% and 2.09% respectively
Dow Jones 0.71% S&P500 0.63% NASDAQ 0.34%
EURUSD held in around the 1.3800 level despite poor German data and Italian debt concerns. The AUD traded in a 1.0280/1.0390 range
Gold rose 2.3% on sovereign debt concerns and Crude rallied 1.5% on leadership change in Greece and Iran nuclear concerns helped prices

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

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