European Strength Driving U.S. Futures Markets Higher
Investor sentiment is up this morning, driving U.S. stock index futures higher in the wake of strong earnings results from European banking giants UBS and Deutsche Bank. Investors are also buying in anticipation of strong earnings results from Aetna, Inc., Anadarko Petroleum Corp., DuPont and Lockheed although banking stocks are expected to carry the market today.
Stress Test Results Questioned but Euro Still Higher
The U.S. Dollar is also under pressure this morning. The Euro is continuing its rally after the stress tests failed to reveal any serious surprises. The British Pound is soaring, backed by positive economic data and good news regarding its stress tests. Finally, demand for higher risk is helping to drive commodity-linked currencies higher.
U.S. equity markets surged to the upside, taking back most of Wednesday’s loss as signs of a global economic recovery helped drive up demand for higher risk assets.
Better than expected housing data and earnings reports also contributed to today’s rally, but the majority of the buying was done overnight by aggressive Asian and European buyers.
U.S. Stock Futures Point toward Sharply Higher Opening
U.S. equity markets are called sharply higher this morning following a strong surge to the upside, triggered by better-than-expected European industrial orders. All of this action reversed the huge sell-off from Thursday which was ignited by comments from Fed Chairman Bernanke, who described the economic outlook as “unusually uncertain”.
Falling Treasury Yields indicate Higher Risk Assets should Weaken Further
Stocks Higher on Intel News; Techs Could See Strong Gains
Investor Optimism Soars Driving Stock Futures Higher
News that Intel posted its best quarter ever is helping to drive U.S. stock markets higher in after-market trading. Fundamental and technical factors drove U.S. stock index futures higher throughout the day. Expectations are for Asian and European traders to act on the Intel news, leading to the strong possibility of a higher opening tomorrow morning.
Strong Intel Earnings Drives Euro Higher into Close
Aussie Weekly Close Suggests Higher Markets to Follow
The Australian Dollar finished the week sharply higher. The Aussie got a boost early in the week when the Reserve Bank of Australia announced that interest rates would remain unchanged this month but that the policymakers will not hesitate to raise rates despite concerns over growth prospects in China.