Markets Rally Ahead Of Chinese GDP| April 13, 2012.
Overnight markets have rallied for the second session as rumours grow that the Chinese GDP numbers could be better than expected.
The Dow Index rallied 181 points to close at 12,986, just below the psychologically level of 13,000 while the S&P 500 jumped 18.86 points, to finish at 1,387. Earlier in the session European shares rallied with the Dax finishing up over 1 percent at 6743.
The US Labour Department announced that the weekly jobless claims increased by 13,000 to a seasonally adjusted 380,000, this is the highest level since January.
The Australian dollar rallied after employment increased more than analysts expected and China’s new yuan loans were the highest in over a year.
Spot gold prices jumped more than one percent overnight on hopes that the Fed might consider stimulus to the US. Spot gold traded up from 1651 to recent highs of 1680.
WTI crude oil continued to rise as a weaker dollar triggered buying of riskier assets and hopes for US Fed stimulus re-emerged after data showed jobless benefit claims rose last week.
The Volatility Index plunged over 14 percent to close near 17.
SPI 200 future 6743
S&P500 Index 1387
Dow Jones 12986
FTSE 100 Index 5710
Oil (Nymex) 103.70