Global Wrap: Back to Business- Markets Increase After Correction
LFB Forex
Published Dec 31, 0000 07:00PM ET
Updated Aug 18, 2009 04:36PM ET
www.TheLFB-Forex.com The Forex Trader Portal
Current Futures: Dow +78.00, S&P +9.40, NASDAQ +19.75
Stocks were largely up in the United States today, helping the global equity markets recover from the worst decline seen since April. Shares of Target Corp and Saks Inc lead the gains seen in the retail sector after cutting costs which has reduced operating expenses. Meanwhile, home improvement retailer Home Depot posted a 3.2 percent gain while competitor, Lowes, declined by 2.49 percent.
Early in the U.S. session the markets found that building permits and housing starts declined slightly. The Commerce Department report shows that housing starts fell by a seasonally adjusted 1 percent with multifamily units declining 13.3 percent. Single family homes managed to rise 1.7 percent to the annual rate of 490 thousand units. When compared to the previous July, Housing starts have dropped by a startling 37 percent.
Also released, a Department of Labor report showed that producer prices declined in July. The index decrease 0.9 percent after a 1.8 percent gain was seen in June. “Wholesale prices are expected to be slow to recover,” stated TheLFB.com Trade Team members. “This report is easing inflation concerns as producers work at less than capacity rates.” In the past year alone, the index has declined a record 6.8 percent.
The Dow Jones Index gained +71.72 points (0.79%) to 9,207.06, while the S&P 500 index added +9.56 points (0.96%) to 988.80.
Crude oil for August delivery was recently trading at $69.07 per barrel, up by $2.32.
Gold for August delivery was recently trading higher by $4.20 to $940.00.
Treasuries prices declined on Tuesday as stocks rose, giving back some of the gains made the previous day. Yield on the 10-year note changed 4.4 basis points to 3.47%.
TeamLFB provides forex related market analysis and trade signals
Take advantage of our New Member Promotions for a limited time!
Get The News You Want
Written By: LFB Forex
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.