2010-07-08
Market Report – 8 July 2010
» US sharemarkets soared on Wednesday after State Street indicated that its earnings would be well above analyst forecasts, which caused other banking stocks to soar. The Dow Jones rose by 274 points or 2.8% with the S&P 500 up 3.1%, and the Nasdaq gained 65 points or 3.1%.
» In Australia, AUD/USD traders will be anticipating the June employment numbers released at 11.30 AEST. In the US, weekly jobless claims data is released at 22.30 AEST.
» US crude oil prices rose for the first time in seven days as investor’s embraced equities and commodities and the US dollar fell. A weaker dollar improves the purchasing power of commodity buyers in Europe and Asia.
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