Dow gained healthy 217 points in last trading session. It was a bit surprising, but such movements can be expected once the index is in a band where correction has to take place. As I maintained in my earlier posts also, Dow has to go into a correction from its correction zone of 16600-16900. Within this band there will be volatile movements if you are tracking the index daily.
Yesterday Dow was buoyed by good set of earnings results from some Dow components. Today Dow is likely to go into negative territory with the Ebola scare in US. Such daily news will effect Dow movement in volatile manner till the time it is in correction zone.
News of major consequence is that Stress Test result of Eurozone banks are going to be to the liking of investors. The results will be declared coming Sunday. Most banks are going to make the grade. Only a dozen of very small banks are likely to fail. This will boost investor confidence in Eurozone and is likely to propel markets higher.
Yesterday Dow was buoyed by good set of earnings results from some Dow components. Today Dow is likely to go into negative territory with the Ebola scare in US. Such daily news will effect Dow movement in volatile manner till the time it is in correction zone.
News of major consequence is that Stress Test result of Eurozone banks are going to be to the liking of investors. The results will be declared coming Sunday. Most banks are going to make the grade. Only a dozen of very small banks are likely to fail. This will boost investor confidence in Eurozone and is likely to propel markets higher.
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