Markets rally on European speculation $TRV:xnys

  • US markets rallied on Friday’s session, pushing to three month highs as investors speculate that European officials have come to an agreement to stabilise the debt crisis and restore confidence in the continents banks
  • Also encouraging markets was comments from Federal Reserve Vice Chairman Janet Yellen who said that a potential third round of quantitative easing might become warranted
  • All 10 sectors in the S&P500 advanced with the index rallying for the third straight week. Some of the big gainers was aerospace giant Honeywell and fast food icon McDonalds which rallied 5.8% and 3.7% respectively
  • Leading the gains on the Dow were TRV, AXP, DIS, CAT and BA which rallied 5.17%, 4.91%, 3.90, 3.71% and 3.36% respectively
  • Dow Jones 2.31% S&P500 1.88% NASDAQ 1.49%
  • Markets position themselves for a Euro breakthrough. The EUR an AUD rallied as the USD weakened. The EUR has pulled back in the last hour
  • Gold rallied as the USD weakened on Euro optimism, Spot Crude rallied closing 2.5% higher at USD87.40 per barrel
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