Canadian Stocks Analysis |
Daily Analysis – Markets Rally, Dollar Tumbles on Fed Statement
Equities
Asian markets once again ended mixes, as the Nikkei rallied 1.4%, following US markets higher, while the ASX dropped .8% as the market reopened for the first day this week. In China the Shanghai Composite and Hang Seng both lost .5%.
European markets ended mostly higher, as the CAC40 rose .6% and the Dax rallied .7%. The FTSE closed flat, as Barclay’s steep 4.8% drop weighed on the index after announcing weak earnings.
In the US, Bernanke’s commitment to continued easing sent stocks higher, as the Dow rose 9 6 points to 12691, and the Nasdaq gained .8%.
Amazon shares jumped 7.9% after raising revenue guidance. The stock had fallen nearly 2% after hours on Tuesday when the company first released its earnings data.
Broadcom tumbled 12.3% after cutting revenue forecasts. Several brokerages cut their ourlook on the stock.
Treasuries and Commodities
Bonds fell as the Fed acknowledged that inflation was becoming more significant. 10-year notes fell 11/32 to yield 3.35% and 30-year notes sank 1...
Should You Spread Bet with Guaranteed Stops?
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