Despite mixed earnings on Tuesday, stocks rallied higher on upbeat expectations of future fourth-quarter results. News that the European debt crisis situation is improving also helped propel markets higher.
The Dow Jones Industrial Average closed well off its high of the day but still in the green at 12,482 – up 60 points. The S&P 500 played around with key technical levels throughout Tuesday’s trading session but ultimately ended up 4.5 points at 1293.
Commodities accelerated to the upside as the US dollar dropped amid news that China and Germany had reported better-than-expected GDP growth. Silver broke $30 an ounce and gold rose to $1651 an ounce, up 1.25%. Crude oil spiked to $100.90 a barrel, up 2.25%.
Natural gas continued its downward spiral amid high inventories, dropping 6.85% to 2.48. Agricultural and soft futures also posted significant gains, as did the euro and GBP.
Brazil’s Bovespa Index also saw gains due to enhanced global demand for commodities from China and other countries that rely on producers located in Brazil.
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
Citi Changes Organizational Structure
SEC Charges Virtu for Disclosures Relating to Information Barriers
ICE Futures Singapore Partners with CoinDesk Indices
Related articles
-
New ‘Live Watchlist’ allows buy side to assess executing larger orders without alerting the market.
-
The exchange is picking up the pace of migrating datasets onto the Microsoft platform.
-
The new definitions better reflect the way that fund managers define ‘smaller’ companies.
-
Equity index options had record ADV in the first quarter of this year.
-
Traders can signal and participate in exceptionally large or illiquid block trades with one click.