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Jul 12, 2012, 08.23 AM IST
In the US markets, stocks closed near session highs on a holiday-shortened trading session as investors cheered a better-than-expected factory orders report.
Dow Jones Industrial Average was up 0.56% or 72.43 points at 12943.82. Nasdaq Composite rose 0.84% or 24.85 points at 2976.08. Standard & Poor's 500 gained 0.62% or 8.51 points at 1374.02. On the economic front, factory orders rose 0.7% in May. This is much higher than what economists had expected. In the currency space, the euro rose against the dollar ahead of the European central bank policy meeting tomorrow. In commodities, Brent crude prices continue above USD 100 after shooting upto USD 101 on mounting tension in Iran, as Iran's nuclear program sparked concerns about supply threats. Hopes of economic stimulus also supported oil prices. They are slightly lower in Asian trade. In the precious metal space, gold rose close to USD 1,620 levels as signs of a slowing US economy fuelled investors' expectation that central banks would introduce new monetary stimulus.
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