US stocks edging higher on economic data, Fed’s Bernanke speech

US stocks edging higher on economic data, Fed’s Bernanke speech

<!--TITOL:

US stocks edging higher on economic data, Feds Bernanke speech

FITITOL--> FXstreet.com (Barcelona) - Fed’s Bernanke showed concerns regarding banking and weakening credit in the US as the as the economic recovery moves in a choppy tone. The equity market is interpreting that as a hint for a potential new round of easing. Meanwhile, the NIESR GDP estimate is of 0.1% growth in the last 3 months. Improving initial jobless claims and rising imports and exports were also eyed by the market.

After a successful opening triggered by labor market data, the American indexes are retracing some of the gains. The SP 500 and Dow Jones 30 are higher by 0.23% and 0.12%, while the Nasdaq 100 got underwater, at -0.40%, as Cisco Systems stocks fall by 9%.

In Europe, the French CAC 40 and the Italian FTSE MIB have recovered its morning losses and are up by 0.50% and 1.65%. The German DAX 30 rises by 0.60% and the Spanish IBEX 35 is rallying by 3.35% ahead of tomorrow’s government measures announcement regarding the financial sector.

Crude oil has re traced its losses and is edging higher on the day, by 0.08%, at $96.86. Gold is also up, by 0.20%, at $1593.24.