U.S. equity markets surged higher to open Monday trading as traders bought up shares across the board on hopes of a French and German pledge to shore up the European banking system by early November. The Dow finished the day ahead by nearly 3% while the broader indexes posted even more impressive gains as the S&P 500 added 3.4% and the Nasdaq surged by 3.5%. Commodity markets also jumped as gold gained about 2.6% and oil rose by 3.4% to finish the day just below the $86/bbl. mark. These strong performances in the headline commodities were matched by some of the lesser known products as well, as the softs and industrial metals added mutli-percentage points gains in Monday trading. Meanwhile, currency trading saw the U.S. dollar weaken significantly against many of its major counterparts as a bullish tone helped to lift the euro against the greenback on the day. In [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: VXX Surges On End-Of-Quarter Selling, FXI Collapses On Slowdown Fears Daily ETF Roundup: VXX Slides On European Hopes, FXI Jumps On Risky Asset Demand Daily ETF Roundup: FXI Sinks On Tightening Fears, VXX Jumps On More Greek Worries Daily ETF Roundup: VXX Sinks On French Plan For Greece, FXI Rises On Declining Inflation Fears Daily ETF Roundup: FXI Surges On Emerging Market Reversal, VXX Tumbles On Rising Market
U.S. equity markets surged higher to open Monday trading as traders bought up shares across the board on hopes of a French and German pledge to shore up the European banking system by early November. The Dow finished the day ahead by nearly 3% while the broader indexes posted even more impressive gains as the S&P 500 added 3.4% and the Nasdaq surged by 3.5%. Commodity markets also jumped as gold gained about 2.6% and oil rose by 3.4% to finish the day just below the $86/bbl. mark. These strong performances in the headline commodities were matched by some of the lesser known products as well, as the softs and industrial metals added mutli-percentage points gains in Monday trading. Meanwhile, currency trading saw the U.S. dollar weaken significantly against many of its major counterparts as a bullish tone helped to lift the euro against the greenback on the day. In [...]
Click here to read the original article on ETFdb.com.
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