US Markets close higher - ZENMoney

In US markets, Major indicies rose on optimism that companies will report better-than-forecast earnings and that economic growth is strong enough to withstand any reduction in Federal Reserve stimulus. Investors were catious ahead of central bank's Chairman Ben Bernanke speach and the Federal Open Market Committee publishes minutes from its June meeting on Wednesday. The International Monetary Fund lowered its 2013 projection for U.S. growth to 1.7 percent from 1.9 percent in April.

On the European front, the British benchmark indices rose due to a rally in mining companies on the back of better than expected Alcoa's profit and sales figures along with optimism that central banks will support growth. A fresh batch of strong domestic data and encouraging start to the US earnings season supported the rise further.

Nikkei opened the morning session on a negative note due to profit taking along with weaker than expected Chinese trade data coupled with China's growth concerns. Chinese exports for the month of June fell 3.1 percent from a year earlier. However, overnight gains in US market along with strengthening dollar and ahead of FOMC minutes which is schedules today supported the indicies at lower levels.

Source : Equity Bulls

Keywords