FRX: U.S equity investors take deep breath of bullish wave air
Finally U.S markets enjoy a strong bullish wave where just after opening by two minuets indices jumped over 1%. The reason behind the bullish wave is the easing of European debt worries as investors are betting that Ireland will accept the rescue package.
Furthermore the U.S economy released this morning its weekly jobs report, where initial claims climbed yet still less than expected next to the drop in continuing claims.
Crude prices climbed after a week lasting drop from $88 to $81, the spring back of crude prices carried with it stock prices of Oil & Gas companies.
The Dollar index which measures the USD's performance versus six major currencies fell from today's opening level of 78.08 to currently trade at 78.57 recording its highest level at 79.00 and its lowest at 78.42. Gold prices rose reaching $1349.20 per ounce climbing from the opening price of $1341.33. Oil climbed reaching $82.23 after opening at $81.48 per barrel.
The best performing sectors within the Dow were the Basic Materials shares next to Industrials and Oil & Gas shares, The S&P 500's leading sectors were Basic Materials, Technology and Oil & Gas shares. The NASDAQ Composite gained from Basic Materials shares in addition to the Telecommunications and Oil & Gas shares.
The Dow Jones Industrial Average climbed 117.72 points or 1.07% reaching 11125.60 points, The S&P 500 inclined 14.07 points or 1.19% reaching 1192.66 points. The NASDAQ Composite gained 33.25 points or 1.34% reaching 2509.26 points.