Market Recap - The Dow Staged An Impressive Recovery In Yesterday's Trade
Friday is now upon us, let's recap how the markets reacted overnight:
The indices in the US staged a reversal yesterday with the Dow closing higher by 1.58% jumping 400 points. This sentiment filtered through to the Asia Pacific area with Nikkei 225 closing 0.40% higher and the ASX 0.17% up. Meanwhile, in China, the Shanghai Comp. closed lower by 1%.
Major commodities are trading well this morning, after recovering slightly yesterday copper is trading 0.08% higher in overnight trade. Traders are looking to see if we can consolidate at these levels after a big fall two days ago following the resolution of the worker issues at the worlds largest copper mine.
Oil is also trading just above flat this morning after dropping this week. The liquid gold has struggled after a build was recorded in both API's and DoE's this week.
Lastly, gold is trading higher by 0.08% after a rejection of $1160/oz was noted yesterday. The precious metal has really been at the wars and is falling heavily in recent weeks....