Spreadex Market Update
Euro markets continue to trade positively
US stock futures are indicating a higher open following Bernanke’s comments. Bank of America and Canaccord raised their ratings on the processor maker AMD which could help the US technology sector when they open this afternoon.
WTI crude slipped form the highest level in 15 months after the International Energy Agency predicted that global oil supply will outstrip demand growth next year. Despite the move, WTI is now trading within $3 of Brent parity, creeping ever so closer on US economic optimism and lower inventory levels.
Meanwhile US jobless claims unexpectedly increased to a two-month high last week. First time claims rose by 16,000 to 360,000 in the week whilst many forecasted for a drop to 340,000.
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