Wednesday 10 July 2013

Stock Market Trend – 11 July 2013

BASE METAL WRAP: Industrial metals climbed after Federal Reserve Chairman Ben S. Bernanke said the U.S. needs stimulative monetary policy for the foreseeable future.

ENERGY WRAP: West Texas Intermediate crude traded near the highest price in 15 months after U.S. stockpiles fell for a second week. Brent’s premium to WTI shrank to the narrowest since November 2010. Crude inventories dropped by 9.87 million barrels last week.

PRECIOUS METAL WRAP: Gold climbed for a fourth day to the highest level in more than two weeks after Federal Reserve Chairman Ben S. Bernanke backed sustained stimulus for the foreseeable future. Platinum touched a three-week high as silver and palladium advanced.

GLOBAL EVENTS TO WATCH: Fed Chairman Bernanke Speaks, Employment Change, Unemployment Rate, Monetary Policy Statement, BOJ Press Conference, Unemployment Claims, Import Prices m/m, Natural Gas Storage, FOMC Member Tarullo Speaks, 30-y Bond Auction, Federal Budget Balance.

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