All of the major stock indexes around the world are trading higher this morning. The S&P 500 Index e-mini futures (ES-H2) are trading higher by 10.00 points to 1362.75 per contract. Many of the European stock indexes are climbing higher after the Bank of England (BOE), and the European Central Bank (ECB) left their benchmark interest rates unchanged. This is really not a surprise to the markets as it was expected by most investors. The Greek swap deal is also expected to occur tonight and this is certainly giving the stock markets a boost.
Traders should keep a close eye on the U.S. Dollar Index. This morning, the U.S. Dollar Index is declining and this is helping all asset prices to inflate and trade higher. Shares of the PowerShares DB Gold Double Long ETN (NYSEARCA:DGP), ProShares Ultra Silver ETF (NYSEARCA:AGQ), BHP Billiton Limited (NYSE:BHP), and everything inflationary is trading higher ahead of the opening bell. Should the U.S. Dollar Index start to rally higher it is likely that these equities will pullback or decline from the morning highs.
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Early Pop For Markets; Keep An Eye on the Dollar
Published 03/08/2012, 09:34 AM
Updated 07/09/2023, 06:31 AM
Early Pop For Markets; Keep An Eye on the Dollar
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