April 29, 2010
Optimism Over Greece Bailout Boosts Appetite for Risky Assets
Global stock markets are trading better which is leading to a call for a higher opening in the U.S. this morning. Traders are putting risk back on the table as tensions
have eased in Greece due to the working out of a potential bailout plan. In addition, the Fed remained dovish in its FOMC policy statement which gave traders the green light to buy equities. The
overnight rally in the June E-mini S&P 500 has put the market in a position to test a key 50% level at 1196.75.
U.S. equity markets rallied to a new high for the session on Wednesday after the Fed left interest rates unchanged at historically low levels and remained soft in its
statement regarding the future of interest rate hikes.
Earlier in the session the stock indices bent a little bit but did not break after the Euro broke sharply following an S&P Corp. downgrade of Spain’s debt. Although
investors seem to be a little …
