European markets staged a bit of a surge overnight.
The FTSE was up 105 points 1.4%), the DAX rose 54 points (.32%) and the CAC was up 169 points (2.28%).
Rises were more a reflection of the US markets on the previous day than any big news from Europe.
In the US, the DOW rose 60 points (.16%), the NBI fell 115 points (.36%), the NASDAQ Composite fell 55 points (.36%) and the Russell small cap index dipped 2 points (.12%).
US PCE data showed US inflation for December at 2.9% (down from 3.2% in November). Market expectations were slightly higher at 3%. Core inflation edged slightly lower than 3%.
US Fed meets next week for interest rate discussions.
US Treasury bond yield is at 4.15%.
Oil prices rose considerably - Brent crude at US$ 83.70.
Gold price steady at US$2,019.
European markets staged a bit of a surge overnight.The FTSE was...
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