Markets rallied in a volatile session $HPQ:xnys $BAC $DIS

  • Markets rallied in a volatile session overnight as investors were encouraged by comments that the Greek referendum may not go ahead. Also surprising markets was the 0.25% interest rate cut by the ECB overnight with new ECB President Mario Draghi stating that the Eurozone could enter into a ‘mild recession’
  • US stocks rallied led by the energy and industrials sector despite a weaker than expected Services report. Weekly jobless claims were also better, all eyes now turn to tonight's Non Farm Payroll data
  • Kraft rallied 3.3% after it boosted its earnings forecast, cosmetics giant Estee Lauder Cos rallied 18% after it increased its dividend and announced a 2 for 1 split of the stock. Other stocks that led the Dow higher were HPQ, BAC and DIS up 3.59%, 2.83% and 2.82%
  • Dow Jones +1.76% S&P500 +1.88% NASDAQ +2.20%
  • EUR rallied on increased risk appetite despite surprise rate cut making a 1.3854 high, AUD rallied pushing to a high of 1.0445
  • Gold rose 1.4% on I/R cut and Crude rose 1.6% as confidence grows
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