US markets reverse a three-day losing streak
Global Cues for Thursday Morning: US markets reverse a three-day losing streak as Fed signal low interest rates. Crude oil is back above USD 100 per barrel.
Global Cues for Thursday Morning: US markets reverse a three-day losing streak as Fed signal low interest rates. Crude oil is back above USD 100 per barrel.
Federal Reserve gave no indication in its latest minutes that it plans to tighten monetary policy soon and stressed that their talk of any exit strategy doesn't mean they are ready to tighten monetary policy soon. Dow Jones ends up 81 points at 12560, NASDAQ up 32 points at 2815, SP500 up 12 points at 1341. Dell surges 5.5% to 52-week high post strong earnings and forecast US Advancing Sectors: Materials up 2.1%, Energy up 2.0%, Consumer Discretionary up 1.2%, Industrials up 1.1%, Technology up 0.8%. CBOE VIX ends down 7.5% at 16.23Asian markets opened in the green. European markets bounce back from 4-week closing low: CAC up 0.92%, DAX up 0.65%, FSTE up 1.07%. Global Economic News: Japan 1Q GDP shrank 0.9% from the downwardly revised 0.8% drop for the fourth quarter, on earthquake damage (market expected contraction of 0.5%) US Index of mortgage application activity rose 7.8% in the week ended May 13, led by 13.2% gain in refinancings. Currencies: Dollar rose to a three-week high against the yen. Euro was up 0.1% Vs USD at 1.4260, had gained from Monday's seven-week low of 1.4048. Commodities: June crude oil surged 3.3% at USD 100.12/bbl. June natural gas was up 0.4% at USD 4.20 per MMBtu. Gold was up 1.1% at USD 1495.80/ounce. July silver was up 5.2% at USD 35.20/ounce. Sugar was up 4.2%. Data To Watch: Weekly jobless claims, existing home sales, Philadelphia Fed survey, leading indicators, money supply. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
