The main themes for yesterday was China’s rate hike and worries that Ireland’s credit ratings will be cut soon after downgrades of Portugal and Greece. Wall Street slipped in the morning session as the above-mentioned issues, together with disappointing ISM services index, hurt sentiment. Yet, price rebounded later in the day on upbeat weekly sales data and optimistic payroll forecasts. The DJIA and S&P ended the day gaining +0.45% and +0.10% respectively.
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Market Worries Ireland will be Downgraded Soon
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