Markets Trade on a Volatile Note

The Global Markets trade in a mixed territory this morning. U.S. stocks U.S. stocks rose, sending the Standard & Poor’s 500 Index to a two year high, after higher-than-estimated growth in payrolls and service industries bolstered optimism in the economy. Most European stocks fell amid renewed concern that the region’s debt crisis may worsen and as the Federal Reserve said the U.S. economic recovery is not strong enough to scale back its stimulus measures. This morning Asian stocks rose, with the regional benchmark index advancing for the eighth day in nine, as a stronger dollar boosted earnings prospects for exporters and reports in the U.S. signaled a broadening of the economic recovery. In commodities, Oil advanced for a second day after reports showed that U.S. service industries expanded and companies added workers in December, signaling that fuel demand may increase in the world’s biggest crude-consuming nation. Gold dropped for a fourth day, the worst run in seven weeks, as data signaling a recovery in the U.S. economy curbed demand for the precious metal as a haven. Silver advanced, ending a three-day losing streak. Copper in London rebounded from its biggest drop in more than a month on better-than-expected U.S. economic data and a looming output disruption in Peru. The Indian markets after witness volatile trade this morning. The main draggers are the Capital Goods and the Auto indices. The Sensex dropped 10 points, to 20,290 and the Nifty edged lower by 1 points, to 6078.