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Stock Markets Pare Gains into Close

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Aug 8, 2009.

  1. futuretrends24

    futuretrends24 New Member

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

    A better than expected U.S. Non-Farm Payrolls Report helped drive equity futures markets to a new high for the year early in the trading session. Investors bought up stocks after the release of the bullish employment report which may have been a sign that the U.S. economy is on the road to economic recovery.

    Stock market gains were pared late in the session as buyers took a breather due to overbought technical factors and a fundamental issue. Fundamentally, traders were still concerned that despite a slow down in the number of jobs lost, the unemployment rate may still climb to 10%. This number was reiterated by the White House.

    September Treasury Bonds felt selling pressure all session following the release of the unemployment report. Bonds fell as yields rose as trader believe a recovery in the economy will lead to an end to the Fed’s easing of interest rates. Next week’s auction was also weighing on the minds of traders as more supply means higher yields.

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

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