(As of 7:10 am PST)
Equities opened sharply higher
this morning, rebounding from two straight sessions of losses as investors
turned to corporate earnings and overseas news in early trading. Weak data in Europe, including falling
wholesale prices in Germany and consumer prices in Greece, sent European stocks
higher in a ‘bad news, good news’ trade markets have been known for in
recent months. Hopes were strengthened
for the start of a European Central Bank quantitative easing program, as
investors pushed stocks higher on the disappointing data. Adding to the optimism on Wall
Street were positive earnings results from Alcoa, which unofficially kicked off
Q4 earnings season after the bell yesterday. Oil continues its remarkable
decline, down 1.5% to just under $46 per barrel. Gold and the US dollar are
higher while the 10 yr. treasury yield rose after a sharp drop in the previous
three sessions. Volatility has been the story of the new year so far, and will
likely stay elevated throughout the remainder of the week.
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