Wall Street rose today as reignited faith in Europe through the Portugal bond sale and positive economic news in Asia and US came out. The Dow followed European and Asian markets and was up 200 pts at close. The question is – “Is this a temporary buy back from speculators who believe a rebound is likely or have investors found renewed faith”.
It could also be that the central banks are buying a lot of it themselves. With concerns over Ireland and now Portugal and Spain, any comment from Europe will help settle nerves.
The latest of positive news came from the US, the jobs data, in addition to better retail sales. Net-net the euro closed at $1.3105 from $1.2983 late Tuesday in NY session.
Tags: asian markets, buy, central banks, data, economic news, faith, news, positive news, speculators, Street
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