Stocks reverse 3 days of declines $DXc1

  • Stocks rallied rebounding from a three day slump as jobless claims fell and manufacturing signalled a strengthening US economy
  • The S&P500 rallied 0.3% whilst the Dow Jones Industrial Average gained 0.4% as Spanish 5 year notes fell 34 basis points and the Euro strengthened to 1.3014 being its first advance in a week.
  • Equity markets halted a three day decline as initial jobless claims unexpectedly dropped to three year lows as Federal Reserve gauges of manufacturing in New York and Philadelphia also topped estimates.
  • DOW 45.33 S&P500 3.93 Nasdaq 1.7
  • Stocks and the Euro pared gains as IMF manging director Christine Lagarde said Europes debt crisis is escalating beyond the point where one group of nations can solve it.
  • FedEx was a big mover overnight after the worlds largest cargo airlines 76% jump in earnings topped analysts estimates. Boeing also climbed as FedEx said it ordered 27 of the companies 767 jets to retire old planes.
  • Jan Crude oil fell again closing at 93.40 per barrel whilst gold is lower trading at 1570.00 per ounce.
  • The USD Index fell slightly after three days of gains.
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