Tuesday, August 4, 2009

Do we have reason for celebration?

It certainly seems so - the world is definitely on a positive bias.

The overnight American Indices broke significant levels, giving every indication the markets were happy. The S&P Index crossed 1000 - first time since November 2008 and the Nasdaq went over 2000 - first time since October 2008.

English FTSE, French CAC and the German DAX registered healthy agains yesterday. Our own Sensex and Nifty back home were up.

Commodities too went up. Crude oil crossed the $70 per barrel mark once again while copper too was trading high.

The general consensus is that the positive sentiment is due to better than expected manufacturing numbers and solid earning results. Hope the boost in sentiment continues as more and more economic numbers come out - hopefully positive.

1 comment:

  1. GoodInitiative. Please keep it going.

    It has the making of ta good reference blog for economy pointers and happenings.

    Add recession and other stats about the US economy also. Our economy is tightly related to this economy.