Markets Trade Near the Day's High

The Global Markets gives out negative cues this morning. U.S. stocks advanced this week and the Standard & Poor’s 500 Index climbed to the highest level since May after companies from Pfizer Inc. to News Corp. beat earnings estimates and reports showed expansion in the service and manufacturing industries. European stocks climbed this week as earnings from HSBC Holdings Plc to BNP Paribas offset weaker- than-forecast U.S. data that reignited concerns about the strength of the recovery in the world’s biggest economy. This morning Asian stocks fell, dragging the MSCI Asia Pacific Index lower for the first time in three days, after U.S. companies hired fewer workers than forecast and the yen strengthened against the dollar. In commodities, Crude oil rose for the first time in four days amid optimism fuel demand will increase because of improved prospects for an economic recovery in the U.S., the world’s biggest energy user. Gold may climb on speculation that demand for the metal as a store of value could increase as the dollar weakened because of signs the U.S. economic recovery has slowed and surging food prices spurred inflation concerns. Copper in London gained 0.6 percent to $7,415 a metric ton today, rising for the first time in three sessions. Aluminum climbed 0.8 percent to $2,208 a ton. The Indian markets after starting on a quite note gained their ground to trade at firm on a positive note this morning. The main gainer this morning is the Realty index gaining more than two percentage points followed by the Consumer Durable index gaining nearly two percentage points. Market breadth is positive with 1,727 advances against 929 declines. The Sensex trades in green at 18,206.04 gaining 62.05 points or 0.34 percentage points. Nifty trades at 5460.30 gaining by 21.05 points or 0.39 percentage points.