US equities advanced today holding on to gains at the open with overseas data including positive German IFO supporting sentiment. Thin volumes were seen across the asset classes with a truncated session and many market participants taking an extended Thanksgiving Holiday. Research In Motion gained 15% on the back of optimism regarding its new BlackBerry 10. Today was Black Friday an important day in the retail sales calendar, as such Macy’s rose 1% and Bed Bath and Beyond saw gains of 1.8% in anticipation of positive sales.
Treasuries ended marginally lower in a short and quiet session trading in a range for the majority after earlier seeing pressure from better than expected German IFO data and optimism regarding Greek aid.
WTI and Brent crude futures settled in positive territory amidst thin trades as fresh protests in Egypt and optimism regarding Greek aid supported the move to the upside. The move also followed risk on sentiment as markets hope for a boost from strong consumer buying on Black Friday.
EUR/USD and GBP/USD moved to the upside following USD weakness and positive news from Europe in the form of strong German data and optimism regarding the Greek debt situation after today’s Eurogroup meeting.
Print 18:41, 23 Nov 2012 - Market Analysis - Source: RANsquawk
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