Asian Markets are set to open slightly higher after US markets reversed earlier declines to close the session higher. Rising Italian bond yields and Eurozone sovereign debt continues to weigh on investor sentiment.
The Dow futures were down as much as 100 points before market open, however markets gathered momentum just before open as a raft of economic data, including positive retails sales number, changed investor sentiment. The better than expected retails sales numbers could point to an improving US economy.
European markets closed their session lower as investors continue to focus on the Italian Bonds, Italian & Greek governments. Markets may remain jittery up until the Greek parliament vote tomorrow night on accepting further austerity measures.
The Dow gained 17.43 or 0.14% points to close the session at 12096.16.
The EURUSD hit 1.35 on the back of investors worrying over the issues in Europe. The Euro on its current momentum looks to be heading towards its lowest levels in 2 months. Overall on the current market it was the US dollar that was showing strength and investors continue to flock to the reserve currency.
WTI Oil continued it march to $100, trading as high $99.85 as investors continue to be upbeat about the US economy growing. Crude prices have not been above to $100 market since late July, prices last traded at $99.29/Barrel.
Gold closed the session relatively flat as the rising US dollar limited any potential gains. Prices last traded at 1781.03.
INDICES
Last Traded
SPI 200 future 4315
S&P500 Index 1257.81
Dow Jones 12096.16
FTSE 100 Index 5517.44
COMMODITIES
Last Traded
Gold 1781.03
Oil (Nymex) 99.29
CURRENCIES
Last Traded
AUDUSD 1.0175
EURUSD 1.3537
GBPUSD 1.5825
USDJPY 77.05
Source
Bloomberg, Dow Jones News