Financial Markets Soar on Chinese Easing Expectations
BonTradeMarket sentiment was bolstered amid speculations that China will step up its monetary easing policy, encouraging sales and guidance from Alcoa and stronger-than-expected US economic data. Wall Street climbed with DJIA and S&P 500 gaining +0.56% and +0.89% respectively. In the commodity sector, the front-month contract for WTI crude oil added +0.92% to settle at 102.24 while the equivalent Brent crude contract bounced +0.74% to end the day at 113.28. Oil prices were supported as the EU and Japan moved closer to embargoing Iranian oil and protests in Nigeria escalated.
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Financial Markets Soar on Chinese Easing Expectations
