| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3825 Registered: 05-2011 Rating: N/A |
World markets tack on gains The global equity markets are flying higher. The US markets have extended the rally seen after the FOMC release. S&P Futures are trading about 29 points higher to the 4729 area. The market has held a steady bid, save for a small dip that represented the low print of 4697.00. Spoos are currently pushing back toward the high that resides at 4732.25. In Asia, both China and Japan saw solid gains. The Shanghai followed the flow of the rest of the world with a 0.8% advance. Leadership arose from the Industrial, Energy and Financial sectors. In Japan, the Nikkei's 2% pop was led by semiconductors such as Advantest, Tokyo Electron and Screen Holdings, which rose 3-5%. In Europe, the major bourses are off to hot starts. In addition to these markets riding the wave higher, better than expected preliminary Manufacturing PMIs for Germany and the Eurozone are helping the cause. Novartis is among the heavyweights showing leadership. The pharmaceutical giant is up over 4% after it launched a new $15 billion stock buy back. |