Stock Markets Build Confidence As Fear Index Dives

stock market indices

Photo: Google Finance

Markets continue to trade near their highs of the day following a somewhat favourable home price reading and a somewhat disappointing consumer confidence reading. Earlier, the European Investment Bank denied rumours that it had been in talks to participate in a bailout program involving the EFSF.  Many attributed yesterday’s stock market gains to this rumour, which was reported by CNBC yesterday.

However, the stock market rally remains unscathed.

Fear seems to be receding with the VIX plunging 8.6%.

So far, this rally is looking fairly stable on this relatively quiet day.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.