Markets Surging, Dow Up 110

UPDATE:

U.S. markets continue to head higher as industrials Caterpillar and United Technologies rally.

The Dow is up more than 110 points, or 0.9 per cent, while the tech-heavy Nasdaq advances more than 1 per cent.

ORIGINAL:

European markets are rallying higher, erasing some of yesterday’s tough losses, with Italy, Spain, and the U.K. all up more than one per cent.

The Milan-based FTSE MIB is more than 2.3 per cent higher — touching 13,310 — while Spain improves 1.7 per cent to 6,631.

Yields on Spanish debt have moderated, with the 10-year now yielding 7.0620 per cent — well below the 7.2850 rate hit yesterday.

Shares in France and Germany are also in the green, surprising considering the sharply negative read of business expectations from Mannheim-based research institute ZEW.

That may have bolstered some traders feeling that the Federal Reserve will offer additional stimulus measures tomorrow when the Federal Open Markets Committee releases its rate decision.

U.S. markets are also nicely positive, led by the Nasdaq, up 0.9 per cent.

Below, the day’s FTSE MIB trade thus far. 

FTSE MIB

Photo: Yahoo Finance

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