As you can see on the charts below, the market indices have been zigzagging around their 50-day averages (blue line) since Memorial Day in a momentum tug-of-war. Draghi’s comments and investors’ hopes that the US Federal Reserve will soon engage in further monetary stimulus helped drive the Dow above 13,000 on Friday for the first time since early May. But European Central Bank President Draghi came to Wall Street’s rescue with his commitment to protect the Euro. US stocks had been rattled by intensifying Spain and Greece sovereign debt worries, as well as Moody’s rating service downgrade of Germany’s outlook to negative. MARKET BRIEF │ JAfter posting three consecutive triple-digit losses in its worst such streak since September, the Dow Industrial Average sprang back to life on Wednesday.
0 kommentar(er)
