Wednesday 10 July 2013

Stock Market Trend – 10 July 2013

BASE METAL WRAP: Copper dropped for a second day after China’s exports and imports both unexpectedly declined, fueling concern that slowing economic growth will hurt metals demand in the world’s largest user.

ENERGY WRAP: West Texas Intermediate crude advanced to a 14-month high as U.S. equities rose amid optimism about the economy and as analysts estimated that U.S. oil inventories fell last week.

PRECIOUS METAL WRAP: Gold declined after China’s exports unexpectedly fell in June and as investors await minutes from the Federal Open Market Committee’s meeting last month amid bets the central bank will begin reducing stimulus. Silver slumped.

GLOBAL EVENTS TO WATCH: Westpac Consumer Sentiment, Trade Balance, Wholesale Inventories m/m, Crude Oil Inventories, 10-y Bond Auction, FOMC Meeting Minutes.

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