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US stocks advance tracking rise in Oil and European shares

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    US stocks advanced, seeking their first daily gain this week, as oversold banking and energy shares recover, tracking the rise in Oil and European shares.

    At the time of writing, the Dow futures were up 157 points or 1.00%. The S&P 500 futures were up 18 points or 1%. Meanwhile, the tech-heavy Nasdaq futures were up 1.00% as well.

    Shares in JP Morgan and Goldman Sachs were up 5.5% and 2.35% respectively. Banking stocks are witnessing correction, tracking the sharp rally in Deutsche Bank after the German lender offered to buy more than $5 billion in bonds.

    Meanwhile, the corrective rally in stocks reduced the demand for safe haven treasuries. Bond prices fell today, with the yield on the 10-year Treasury note trading higher at 1.695%.
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