Markets Trade in Green

The Global Markets opened mixed this morning. U.S. stocks rose, sending the Standard & Poor’s 500 Index to a two-year high for second day, after the world’s largest bond fund manager raised its forecast for economic growth and jobless claims dropped. European stocks rose to a two-year high, led by financial shares, as reports reassured investors that the global economic recovery is intact. This morning most Asian stocks fell after Ireland’s credit rating was lowered and as China’s leadership meets to review the world’s fastest-growing major economy amid speculation policy makers will raise interest rates this weekend. In commodities, Oil traded above $88 in New York after a decline in U.S. jobless claims bolstered speculation the economic recovery may boost fuel demand in the world’s biggest crude-consuming nation. Gold, trading little changed, may climb for a second day, paring this week’s decline, as mounting concerns about the European sovereign-debt woes spur investor demand for a protection of wealth. Silver and platinum rose. Copper dropped from Shanghai to New York and declined from a record in London as some investors sold the metal to lock-in gains before the release of trade data in China, which may back the case for additional measures to cool asset prices in the world’s largest user of industrial metals. As expected the markets have opened in the red but has gained their ground as the day progressed. The Sensex is up by 108 points at 19,242.36 and the Nifty is trading at 5803 gaining 37 points.