Global markets surged overnight after US retail sales data indicated that the US was not going into recession.
In Europe, the FTSE rose 66 points (.80%), the DAX rose 297 points (1.66%) and the CAC rose 990 points (1.23%).
In the US, the DOW rose 554 points (1.39%), the NBI rose 68 points (1.47%), the NASDAQ Composite rose 401 points (2.34%) and the Russell small cap index rose 5 points (2.45%).
US retail sales data showed a 1% growth (market expectations were for a modest .4% growth figure).
US jobless claims were also below expectations coming in at 227k (expectations for 235k).
US/UK bond yields rose as expectations for interest rate cut in September eased.
US Treasury bond yield rose to 3.927%.
Oil prices rose - Brent crude sits at US$80.90 per barrel.
Gold price sits at US$2,457 per oz.
BITCOIN price declined to US$56,874.
Global markets surged overnight after US retail sales data...
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