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Optimism made the global markets rally - Wednesday Review, September 2

Optimism made the global markets rally - Wednesday Review, September 2

Most markets gained fueled by a possible economic recovery

The US

The gains were caused by the hope that investors have in a possible stimulus package. Also, consumer spending started to pick-up, which boosted the expectations of an economic recovery. USA30 rose 1.9%. USA500 gained 1.56%, while TECH100 added 0.98%.

Oil prices took a swing yesterday after the #EIA (Energy Information Administration) report showed that oil inventories had shrunk by almost 10 million barrels. Brent Oil fell 2.83% to $44.29 per barrel, while Oil lost 3.32% to $41.34.

Gold lost 1.7% and settled at $1,944.70 per ounce.

The Dollar Index traded at 92.381.


Asia and Australia

The markets were mixed yesterday, considering the data they have received. On one side, they focused on positive US manufacturing activity.

On the other side, they kept an eye on the candidates for the prime minister position in Japan and on the negative data posted by the Australian Bureau of Statistics.

Japan225 added 0.5%.

HongKong45 lost 0.61%

Down under, Australia200 went up 1.61%, even though the country entered a #recession for the first time in almost three decades.

USD/JPY gained 0.13% and settled at 106.04.

AUD/USD pair lost 0.5% to 0.7338.


Europe

The benchmarks ended the day on positive territory, despite the weak German retail sales figures. Markets chose to focus on a possible economic recovery.

Germany30 gained 1.5%. France40 traded 1.4% higher, while UK100 was up 1.7%.

EUR/USD lost 0.3% trading at 1.1875.

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Sources: seekingalpha.com, marketwatch.com, investing.com


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