Very positive day for global markets overnight and so interesting movements with no stock investment sectors.
In Europe, the FTSE rose 99 points 1.21%), the DAX rose 118 points (.65%) and the CAC rose 90 points (1.22%).
In the US, the DOW had a strong rebound and rose 654 points (1.64%), the NBI rose 26 points (.54%), the NASDAQ Composite rose 176 points (1.03%) and the Russell small cap index rose 37 points (1.67%).
US June PCE (Personal Consumption Expenditure) came in line with expectations - rising just .2% after being flat in May. PCE is the US Fed's preferred measure for inflation.
PCE data strengthened prospects for a September interest rate cut.
Interesting moves elsewhere.
The US Treasury 10 year bond rate went down considerably to 4.196%. An indication that investors are looking to shift fund to the share markets.
Oil price dropped to US$80.52 per barrel.
The gold price rose to US$2,387 per oz.
BITCOIN rose strongly to US$67,619.
Very positive day for global markets overnight and so...
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