www.TheLFB-Forex.com The Forex Trader Portal
Global Wrap:
S&P 500 At An 11 Month High
Current Futures: Dow +44.00, S&P +7.70, NASDAQ +10.75
Stock markets in the United States stayed in positive territory for most of the session with only a brief decline into negative territory seen at the start of the session. At the end of the session, the Dow had gained 49.88 points and the S&P 500 was higher by 7.98 points while the Nasdaq was once again had the highest percentage gain of 1.11 percent or 22.62 points. The S&P 500 is currently sitting at an 11 month high after today’s close.
All sectors were advancing on the day with conglomerates gaining 2.16 percent, energy rose 0.56 percent and technology was at a 0.99 percent gain. General Electric saw a gain of over 2.00 percent as it climbed to its highest price seen since the start of the year. Google was ahead by 1.17 percent while IBM declined 0.34 percent.
The Federal Reserve stated today that 11 of the 12 regional banks have started to see signs of stabilization and that the economy is beginning to improve after the release of the beige book. Although demand for loans had been low, many business contacts said they were “cautiously positive”. The only sub-par performer was the commercial real estate sector as demand was still weak and could remain that way for some time. The report also mentioned that residential housing was weak but there were signs of improvement being seen.
The Dow Jones Index gained 49.88 points (0.53%) to 9,547.22, while the S&P 500 index added 7.98 points (0.78%) to 1,033.37
Crude oil for October delivery was recently trading at $71.42 per barrel, higher by $0.32.
Gold for October delivery was recently trading lower by $7.20 to $992.60.
Treasuries were little changed on the day as the government prepared to unload $20 billion of 10 year securities today. Yield on the 10-year note changed 1.1 basis points to 3.48%.