US stocks rose on hopes for Fed easing

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Source: Dukascopoy Bank SA
US stocks advanced on Tuesday on hopes that the Fed will announce easing measures at the upcoming FMOC meeting due to start on Wednesday. At the same time, investors remained cautious ahead of the German Constitutional Court ruling regarding its backup of the Eurozone rescue fund. The S&P 500 rallied 0.31% to close at 1,433.56. Seven out of ten sectors within the index gained. The top-performers were oil and gas companies and financials. Alpha Natural Resources and Cabot oil climbed 7.66% and 5.70% while Comercia and KeyCorp advanced 0.03% and 0.23%. Morgan Stanley and Citiroup also rose after two banks finally agreed on how much to value their jointly owned firm, Morgan Stanley Smith Barney. Morgan Stanley and Citigroup added 3.85% and 2.61%. On the downside, were   utility companies, with AGL Resources and CenterPoint Energy falling by 0.22% and 0.14%.

 

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Wed, 12 Sep 2012 16:58:51 GMT

Dow Jones climbed, financials led gains

US blue chips rose on Tuesday amid mounting expectations that the US and China will loosen their monetary policies to boost growth. Meanwhile, rising cautiousness ahead of the German Constitutional Court decision regarding its support for the ESM capped the upswing of the US equities. The Dow Jones Industrial Index gained 0.52% to close at 13,323.36. Eight out of nine

Wed, 12 Sep 2012 17:09:47 GMT

Borrowing costs grow as Germany sells its debt

On Wednesday, Germany witnessed an increase in its borrowing costs, as it was selling its 5-year government debt on an auction. Germany's Treasury managed to sell debt worth EUR3.97 billion in 5-year notes, having the average yield of 0.61%, compared to the yield of 0.31% during a similar auction in August. Demand exceeded supply only 1.4 times.

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