Spain is going to save money, the financial markets like it and grow!
How European and U.S. markets yesterday then reacted positively to reports from Spain that the newly proposed budget puts emphasis on spending cuts and will not increase the tax burden on taxpayers. European markets still do not reach the performance of those American. The German DAX closed +0.19% UK FTSE closed around +0.2%. Best-led and the French CAC +0.71%.
Czech PX Index rose without two-hundredths of one percent thanks to Erste Bank, which has appreciated by more than 1.9% and Commercial Bank with the share price rising over 1.5%. Good results were shares of NWR +2.3%, +2.4% and CME ČEZ +1.45%.
U.S. indexes at the beginning proofread initial gains and fell to zero, from which they were able to bounce back into the green numbers and the rest of the day raiser profits. Support was just like those European news from Spain and also a decline in applications for unemployment benefits in the U.S..Despite the negatives in terms of lower number of home sales rozjednaných or lower GDP revision and orders of durables indices managed to close this - Dow Jones +0.54%, Nasdaq +1.39% and the S & P +0.96%.
Today we expect data in the form of retail sales in Germany and an estimate of the consumer price index in the Eurozone. In the U.S., it then data on personal income and personal consumption. It will also be published on The Chicago Purchasing Managers Index and ultimately Index University of Michigan consumer confidence.
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