US stocks sharply rose following a range of upbeat earnings and data. The strong data re- ignited speculation that the Fed could raise interest rates sooner than the second half of 2015.
Asian markets also saw strong gains. The Nikkei soared 2.64% higher as the Dollar made gains against the Yen.
European markets are higher today following news that the European Central Bank is considering purchasing corporate bonds.
Oil is trading choppy between $80.70/barrel and $82.70/barrel. Investors seem to be hesitant to place positions before next month’s OPEC meeting where a decision may be made to cut output as recent months have shown rising supplies and falling demand.
Gold climbed as weak US data led to speculation that interest rates could remain constant. However, yesterday’s strong US data pushed the price back down. The stock market is also rallying as earnings season is bringing mostly positive results. Climbing stocks cut demand for the metal as they act as an alternative investment.
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