US stocks climbed following strong earnings and positive data. Caterpillar and 3M reported stronger than expected results causing a rally throughout the day. Initial Jobless Claims were slightly worse than expected, however, they remained below 300,000 for a sixth week.
Asian markets were mixed today. The Nikkei gained 1.01% as the Yen weakened against the US Dollar and this boosted exporters.
European markets are lower today as markets are skittish following news of an Ebola case in New York. Markets shrugged off positive data from Germany where the Gfk Consumer Climate beating expectations.
Oil climbed after strong data was released from the EU. The German Manufacturing PMI, overall Manufacturing PMI and Services PMI all beat expectations and pushed up demand for the commodity. News that Saudi Arabia reduced oil supplies also added support. However, prices are once again falling as fears of slower global growth still hover on the market.
Gold is trading choppy after dropping yesterday following the positive data from the EU. Positive sentiment on the stock market has also cut demand for the metal. Traders should watch the US New Home Sales data at 2pm GMT as it may cause short term movement for the commodity.
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