Menu Close

Global Equity Markets Firmer As Oil Stabilizes, Greece Gets Bailout Money

This is a syndicated repost published with the permission of Money Morning. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

(Kitco News) – World stock markets were mostly higher overnight. Crude oil prices are firmer today, which helped out the equities. Also, Greece’s creditors approved another release of bailout money for the indebted country, which assuaged European investors. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins.

Gold prices are modestly up in pre-U.S. market trading, on a technical and short-covering bounce from solid selling pressure seen earlier this week.

In overnight news, Russia’s central bank cut its key interest rate by 25 basis points. The Russian ruble rallied on the news.

The Bank of Japan held its regular monetary policy meeting Friday and made no major changes in its policy.

The Euro zone’s consumer price index for May was reported down 0.1% from April and up 1.4% from a year ago. The numbers were right in line with market expectations but down from the European Central Bank’s target rate of around 2.0% annual inflation.

The key “outside markets” on Friday morning see Nymex crude oil futures prices firmer on short covering following selling pressure seen earlier this week. The oil market bears still have the solid overall near-term technical advantage as prices trade well below $50.00 a barrel. Meantime, the U.S. dollar index is a bit weaker today on some chart consolidation after this week’s good gains. The greenback bears still hold the overall near-term technical advantage.

U.S. economic data due for release Friday includes new residential construction and the University of Michigan consumer sentiment survey.

To get full access to all Money Morning content, click here

About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.

Disclaimer: © 2017 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201.

The post Global Equity Markets Firmer As Oil Stabilizes, Greece Gets Bailout Money appeared first on Money Morning – We Make Investing Profitable.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RSS
Follow by Email
LinkedIn
Share