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Apple, Inc. Sends Equity Markets Higher During Extended Trading Hours

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Oct 19, 2009.

  1. futuretrends24

    futuretrends24 New Member

    Apr 30, 2009
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    Today’s sample of Futures Analysis from FuturesHound.com

    Much better than expected earnings from Apple, Inc. is helping to drive U.S. stock index futures higher after the close. This rally comes on the heels of a strong day session which saw equity futures rise to a new high for the year after several companies reported better than expected earnings or gave favorable future guidance. With no place to get a better return, investors continue to pour money into the equity markets. Unless some major force rears its ugly head, look for the trend to continue.

    U.S. Treasury markets posted a strong gain on Monday after trading lower throughout the early part of the trading session. Stronger demand for higher yielding assets forced Treasury Bond and Treasury Note futures lower early in the day, but these markets turned around after Fed Chairman Bernanke mentioned nothing about a tight monetary policy or higher interest rates. Some traders had taken insurance on the opening in anticipation of Bernanke restating his comments from several days ago when he alluded that the Fed would move to a tight monetary policy once the economy started to show signs of recovery.

    The U.S. Dollar traded under pressure throughout the trading day as appetite for risk sent traders into the higher yielding currencies at the expense of the U.S. Dollar. The most volatile currency was the December British Pound which started the day lower on speculation the Bank of England was actually considering expanding its asset buyback program. The weakness in the Dollar, however, was too hard to overcome and the British Pound turned around to close higher. Tomorrow the Bank of Canada meets to set short-term interest rates, but this didn’t stop traders from buying the Canadian Dollar as higher equity and crude oil markets boosted demand for higher risk assets.

    Read full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

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