The Market Outlook Today Looking Positive
November 25, 2009 9:36 AM
US stock markets are expected to open higher ahead of positive economic data to be released today.
According to a poll conducted by Reuter’s, personal and durable goods for October is likely to have risen 0.1% and 0.5% respectively. Things are expected to look positive on the job front as well. Unemployment numbers are anticipated to show a drop from 505,000 to 500,000 this week.
Investors are likely to take it as a positive cue and this will drive stock prices up. However, Consumer sentiments index is projected to be on the pessimistic side and hence will show a drop from 70.6 to 67.0 this month. Revised U.S. growth forecast for the year 2010 gave impetus to European and Asian Markets and led to a rise in indices. This increasing optimism about recovery in U.S. economy pushed stocks higher, especially commodity stocks.
Oil traded slightly above $76 a barrel on an weak Dollar. India might be venturing to buy more bullion from International Monetary Fund which sent the gold to a new high and it traded above $1,180.
