Stocks Are Up, Dollar Is Down
Global stocks improved overall today as manufacturing growth and lessened European debt worries led to increased optimism in the strength of a sustainable economic recovery.
Additionally, international commodity prices rose, with energy and materials stocks doing especially well. Increasing nuclear tension with Iran rose crude oil over $76 per barrel.
Meanwhile, the strength of the U.S. dollar fell against the euro, ending a nine-month advantage. The U.S. Dollar Index dropped 0.4 percent against six other world currencies.
As of this writing, all indexes showed positive gains, with the Dow up 1.16 percent, the S&P 500 up 1.29 percent, and the Nasdaq up 0.99 percent.