Stocks start 2012 on positive note $XAGUSD

Last Updated on Monday, 05 March 2012 14:47

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US equity markets posted strong gains today following suit to the previous four years for the first trading day of the new year. The Dow Jones is at its highest level since July closing at 12,397.38 as commodities also posted strong gains overnight
Moves higher in Europe earlier in the session set the tone for a strong start as the USD weakened and enthusiasm returned to the markets
Financial, industrial and commodity shares led the S&P 500’s gains as the Institute for Supply Management’s Factory Index topped estimates
DOW 1.47%, S&P500 1.55% and NASDAQ 1.67%
Federal Reserve officials will for the first time make public their own forecasts for the Federal Funds Rate at their Jan 24-25 meeting
Oil in New York jumped 4.12 per cent to $102.96 per barrel the highest level since May 2011, as Iran’s Deputy Navy Commander told press TV that an effort to harm the nations interest will lead to reciprocal measure
Copper advanced to $3.5285 p/p during the New York session posting a 3 week high
Gold jumped the most in 10 weeks on demand for a haven following the reports from Iran along with the strong start to equity markets and renewed appetite for risk to start the years. Spot gold is trading at USD $1605 per ounce whilst silver has also followed suit higher trading at $29.63 per ounce this morning after rallying over 6 per cent

Published by Spectrum Live Pty Ltd | www.spectrumlive.com

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