2010-07-09
Market Report – 9 July 2010
» ECB President Jean Claude Trichet assumed a decidedly hawkish posture refusing to concede the point that the central bank will become the buyer of last resort for European government debt.
» US equities advanced after a decline in US initial jobless claims. Reports of the IMF’s increase in its 2010 global growth forecast to 4.6% also supported equities.The DJIA was up 1.2% to 10139, the S&P 500 gained 0.9% to 1070 and the Nasdaq was 0.7% higher at 2175.
» European equities advanced after the IMF raised its 2010 global growth forecast.
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