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Strong Earnings Drive Stocks Higher

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Apr 16, 2010.

  1. futuretrends24

    futuretrends24 New Member

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

    Strong earnings reports from Intel and UPS helped boost U.S. equity markets on Thursday. The rally seemed a little tentative, however, as traders seem somewhat cautious with stock prices at such lofty levels.

    The initial move to the upside was triggered as the Dollar weakened following a stronger opening. On Wednesday, Fed Chairman Bernanke ignited a rally in the equity markets with his dovish assessment of the economic recovery and outlook for interest rates. Like it he did several times before, Thursday’s weak Initial Claims Report and weaker than expected Industrial Production Report sent a signal that interest rates would remain low, this also helped to contribute to today’s rally.

    June Treasury Bonds finished better after a volatile morning session. Weaker than expected U.S. economic reports helped to contribute to the strength. T-Bonds broke this morning only to find support at a 50% price level at 115’14. Gains have been limited however, by resistance at another 50% retracement level at 116’15.

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

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