Euro finally loosens its stranglehold on stock with first drop in 6 days
New regulation to help trading things go smoothly. The day when MiFID kicks in we see shares in Europe on the rise.
It started as a good day in Asia and Europe finally manages to catch the green wave from the East. The dollar stopped it’s 5-day streak of retreats.
Stoxx 600 advanced with automakers managing to bounce off from Tuesday and chemicals and techs leading the pack. Guess the Christmas break still ain’t over for many folks as trading volumes are 25% lower than the 30-day average.
On the commodities side, crude oil’s trading highest in 3 years. It passed the $62 resistance line this morning.
Elsewhere we expect the Fed’s minutes from its last meeting and the US CONSTRUCTION SPENDING.
The Fed manages to keep hold on things judging by the minutes
The record setting resumes! US shares climbed to record highs as Fed minutes showed Federal Reserve officials continue to back gradual interest rate cuts. Gold fell and the dollar extended its gains.
S&P rose to above 2,700 for the first time, while Nasdaq and Dow Jones reached all-time highs. There is no desire on part of the Fed members to actually moderate any potential boom and risk a downturn, said chief investment strategist at Northwestern Mutual in Milwakee Brent Schutte in front of Bloomberg.
“They’ll let it run hot”.
Emerging markets also gained for a second session in a row. European bonds rose due to great interest on an Irish debt sale.