(As of 7:13 am PST)
Following yesterday’s momentum, stocks continue to march
higher as positive data out of China and developments out of Syria ease
investor concern. Asian markets surged
for the second straight day as data out of China continued to impress. Industrial production for August rose 10.4%
from a year earlier, while retail sales increased 13.4% from August last
year. Both reports came in much stronger
than expected and sent most equity markets throughout Asia higher. Developments out of Syria are also drawing
investors back in. The Syrian government
has accepted a proposal from Russia to put its chemical weapons under
international control likely averting a US military strike. As expected, oil prices have fallen sharply
today. Gold is also lower by 2% while the US dollar
is higher. In other news, Apple is under
the microscope in early trade as the tech giant gets set to unveil its new low-cost iPhone 5C later this
afternoon. Shares rallied above $500
yesterday and have fallen back slightly today ahead of the announcement. With strong global economic data and a Syrian
resolution taking shape it appears another positive day for equity markets is
in the making.
No comments:
Post a Comment