Tag: March EuroSort
Stocks See-Saw in Tight Range amid Friendly U.S. Economic Reports
The reaction in the markets was muted this morning following the release of the U.S. ADP jobs data report. The report showed that employers cut 84,000 jobs in December. This was down from 145,000 jobs lost in November. The adjustment to the November figure was positive as it was originally estimated that 169,000 jobs were lost.
The overnight strength in the global equity markets spilled over to the U.S. markets on the opening. Demand for higher risk is rising because of concerns over U.S. debt. With new Treasury debt being issued this week, investors are looking for higher returns. The inability to follow-through to the upside under thin trading conditions has encouraged traders to back off from the highs slightly.
U.S. stock indices added to their earlier firm tone with a strong rally following the release of a better than expected U.S. existing home sales report. Traders increased long bets that the U.S. economy would continue to recover. Last night’s rally took out the recent top in the March E-mini S&P 500, reaching 1114.75. The next upside targets are 1119.00 to 1122.00. Optimism over a U.S.
Equity Markets Plunge as Traders Dump Risky Stocks
U.S. stock markets have accelerated to the downside after failing to hold key retracement zones. This is the first indication that investors are throwing in the towel on holding risky stocks. U.S. Bank shares are leading the way lower on growing concerns that Euro Zone financial institutions face exposure to toxic debt in Greece.