Worries over the sovereign debt crisis in the Eurozone eased temporarily after the successful Spanish auction. Reports also showed that Ireland has passed its latest IMF/EU assessment. In Greece, there have been speculations that a PSI resolution would be reached soon. Market sentiment was also lifted by better-than-expected US jobless claims. Wall Street climbed higher with DJIA and S&P 500 gaining +0.37% and +0.49% respectively. In the commodity sector, oil slipped as US fuel demand reportedly dropped last week. Moreover, it appeared that the EU has not yet reached agreement on the Iran embargo.
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Sentiment Temporarily Lifted by Well-Received European Auctions
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