European stocks higher as markets settle
Banking turmoil tones down a notch leaving markets calm
DAX back above $15,266.
DOW futures rise 245 points
Australia’s CPI declines to 6.8%
Although a grim outlook continues to control sentiment for the remaining days of this quarter. Markets seemed to have shrug off crisis mode to upbeat mode, as European shares rise as the stabilizing notion continues to calm market.
Meanwhile Australia’s CPI declines from 7.4% to 6.8%, increasing the likehood of a slower rate hike pace from the RBA.
Germany’s DAX was in in the green near levels of $15,266. After sharp drop last week near $14,456 on banking turmoil. And the FTSE 100 back on track above $7500.
Gold prices stabilize near the $1960 level with investors on edge of when it will hit 2000 dollars again. Any negative news on Deutsche bank which is at the front and center at the moment is likely to elevate gold prices further.
Oil prices gain for their 3rd consecutive day on supply concerns. After news suggest that exports from Kurdistan will be halted, in addition to improved market sentiment compared to last week.
US futures rose on easing worries. Financial services sector also gained in pre-market with GS rising almost 1.6% while Tech also saw gains.
Markets now tune to Friday’s Core PCE price index inflation indicator that will play a key role in the Feds next meeting.