Comments from central bank officials continued to uphold market confidence, sending stock markets higher in spite of weakness in the economic dataflow. Wall Street climbed higher with the DJIA and the S&P 500 gaining +0.39% and +0.51% respectively. The commodity sector was rather mixed. While crude oil prices rose with the front-month WTI and Brent crude contracts soaring by +1.595 and +2.24% respectively, gold faltered after rising over the past 2 days. Speculations that the ECB would announce asset purchases in September and comments from Fed’s Rosengren sustained the bullish sentiment in the near term.
Author: xcchanellj
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Sentiment Remains Robust on US Payrolls, Spain’s Possible Request for Funding
Asian shares rallied on the morning session on Monday as driven by the upbeat market sentiment after the better-than-expected US employment report released last Friday. Meanwhile, investors were also more relieved by Spanish officials’ comments as it has become more likely for the country to seek funding from the EFSF. The MSCI Asia Pacific Index gained +1.6%. Commodities, however, eased after the sharp rise on Friday
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Sentiment Remains Robust on US Payrolls, Spain’s Possible Request for Funding