Optimism was supported by hopes that Obama’s job stimulus would help boost the US employment situation and the German court decision would clear hurdles for the votes in support of the new EFSF. Economic indicators released were not as disastrous as expected. The Beige Book signaled that growth moderated but labor markets were described as ‘stable’. Wall Street rallied with the DJIA and the S&P 500 indices gaining +2.47% and +2.86% respectively. In the commodity sector, oil follow equities’ suit and jumped with the front-month WTI contract surging +3.86% and the equivalent Brent contract rising +2.57% to the highest level in a month. Gold slumped, losing -2.97%, as risk appetite increased.
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Risk Appetite Rises amid Job Growth Hopes
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