(as of 7:15 PST)
Spillover from a surging Asian
markets has US stocks strongly higher at the open this morning. Strong economic data from both China and
Japan were catalysts that sent Asian markets up near 2% overnight. Gold is up slightly and oil is down after a
big run-up last week due to Syrian fears.
The US dollar is down against most foreign currencies and interest rates
have reversed to the downside after a significant surge over the last few
weeks. The Congressional vote on Syria this week will dictate market direction
for the short term, while Federal Reserve talk of tapering activity will also
have a strong impact. Don’t expect these
early gains to hold. There is just too
much uncertainty on the horizon and markets hate uncertainty.
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