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16 Sep 2013
Summers and Syria push US stocks higher
FXstreet.com (Edinburgh) -Equities in the US trading floor are posting decent gains on Monday after Larry Summers won’t be running for Bernanke’s throne, leaving dovish Janet Yellen as the sole frontrunner so far. In the same tone, the US-Russia agreement on Syrian chemical weapons over the weekend is also collaborating with the upbeat mood amongst traders. The greenback is bouncing off lows although still trading well below the opening gap around 81.20/25. As of writing DowJones is up 0.83%, followed by the S&p50, 0.65% and the Nasdaq, 0.02%.
The news of Summers exiting his run up to be the next Fed’s Chairman have also propelled the bourses across the pond, with the European benchmark closing in multi-year highs. The German DAX was the best performer, advancing 1.22% and followed by the CAC40 and the IBEX35, up 0.92% and 0.65%, respectively. The single currency is now hovering over 1.3350, correcting lower from overnight peaks beyond 1.3380.
In the commodities’ land, the ounce troy of gold is recovering from last week’s losses, up 0.75% at $1,318 while the barrel of WTI is retreating 1.15% at $106.99.
The news of Summers exiting his run up to be the next Fed’s Chairman have also propelled the bourses across the pond, with the European benchmark closing in multi-year highs. The German DAX was the best performer, advancing 1.22% and followed by the CAC40 and the IBEX35, up 0.92% and 0.65%, respectively. The single currency is now hovering over 1.3350, correcting lower from overnight peaks beyond 1.3380.
In the commodities’ land, the ounce troy of gold is recovering from last week’s losses, up 0.75% at $1,318 while the barrel of WTI is retreating 1.15% at $106.99.