Technical & Fundamental Oil Reports Specialists

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Bullish stocks, bearish oil

Published Wednesday, April 2nd, 2014

The new quarter started on a positive note after the release of manufacturing data confirmed that the global economic recovery is on track. Eurozone factory output remained in expansion territory with robust performances from both France and Spain as German unemployment fell to a fresh low. Underwhelming industrial output figures from China were shrugged off as they buoyed hopes of monetary easing measures from the country’s central bank.

Momentum shifted firmly to the upside once figures revealed that US factory activity accelerated during March in a sign that the economy has recovered from the weather-related disruptions early in the year.  The second consecutive rise in the ISM index to 53.7 helped support sentiment which eventually saw the S&P 500 gain 0.7% to finish at a record high. The feel good factor was extended to equity indices around the world as risk appetite returned to the fore.

To read the rest of the report, please click here 

Posted by David Hufton