ETX Capital Daily Market Bite, 9th April, 2013: Markets Move Higher Post Alcoa Numbers
April 9, 2013 10:43 am
April 9th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist
European markets have opened higher this morning, as US earnings season kicked off to a good start after economic bellwether, Alcoa, reported annual growth in its first quarter profit which topped market estimates. Traders were also encouraged by a weakening of the Chinese annual inflation rate which increased hopes that the nation’s policymakers will be now under less pressure to tighten credit. Meanwhile, investors are expected to pay close attention to the release of economic data which might show that UK industrial output dropped 2.8% YoY in February and manufacturing production fell 1.5% YoY. Trade balance data would also remain on investors’ radar to get further direction.
April 9th 2013, Daily Market Bite from Ishaq Siddiqi Market Strategist
European markets have opened higher this morning, as US earnings season kicked off to a good start after economic bellwether, Alcoa, reported annual growth in its first quarter profit which topped market estimates. Traders were also encouraged by a weakening of the Chinese annual inflation rate which increased hopes that the nation’s policymakers will be now under less pressure to tighten credit. Meanwhile, investors are expected to pay close attention to the release of economic data which might show that UK industrial output dropped 2.8% YoY in February and manufacturing production fell 1.5% YoY. Trade balance data would also remain on investors’ radar to get further direction.
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