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Stocks continue higher following last weeks gains $JPM:xnys
Last Updated on Monday, 05 March 2012 14:49
- Stocks rallied, adding to the best weekly gain since 2009 following positive news on Italy’s budget cuts and Germany and France pushing for a new treaty to fight the debt crisis
- Italian Prime Minister Mario Monti prepared a 30 billion Euro plan designed at reducing Europe’s second largest debt
- The S&P500 climbed 1 percent then trimming a rally of as much as 1.8 percent following reports the S&P was planning to put several European nations on credit watch negative
- Dow 0.65%, S&P500 1.03% and NASDAQ 1.10%
- The banks led gains in the S&P500 today with JP Morgan Chase, Citigroup and Bank of America climbing at least 2.7 per cent
- Oil reversed a 1.5 percent gain to close relatively unchanged at USD $100.99 per barrel
- Spot Gold has fallen back to USD $1723.25 per ounce this morning following on from the S&P downgrade announcements this morning
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