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Financial Markets Surge Amid Hopes of EU Outlook, US Data Firm

Investors hoorayed as European leaders announced massive measures to contain the debt problems. Financial markets rallied across the board. Wall Street jumped with DJIA and S&P 500 gaining +2.86% and +3.43% respectively. In the commodity sector, the front-month contract for WTI crude oil rebounded sharply from the plunge in the previous day, ending the day at 93.96, up +4.17%, while the equivalent Brent crude contract rose to as high as 112.79 before settling at 112.08, up +2.91%. Gold advanced for the 5th consecutive day as the US dollar declined. The benchmark Comex contract will likely record the biggest weekly gain in more than 2 months .

Financial Markets Surge Amid Hopes of EU Outlook, US Data Firm

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