Comments from European Central Bank
President, Mario Draghi, have boosted global market optimism this
morning. The head of the ECB said the institution is ready to do
“whatever it takes” to preserve the euro, which many believe will
include
purchasing the likes of Spanish and Italian bonds to bring down the
unsustainably high borrowing costs those financial instruments currently
possess. The euro has since pushed back above $1.23 and U.S. stocks
have begun morning trading up 1.7%. The precious
metals complex is pushing higher as well with gold up .5% and
platinum up around 1%. U.S. jobless claims numbers fell 35,000 to
353,000 last week but that did little to add to the positive sentiment
this morning as the overall job picture remains murky at
best. Pending home sales data is set to be released at 10:00 a.m. EST
today. If yesterday’s new home sales numbers(down 8.4% in June) were any
indication then today’s report could dampen the mood here in the U.S..
Have a great day!
No comments:
Post a Comment