Investor did not take the sharp crude oil price jump seriously as financial stocks turned higher during the last hour to settle at 186.13 or 1.63 percent on 30 July 2008.
As financial stocks had by and larged hit their all time low, many investor found value in these stocks. Further to this, Federal Reserve intention to extend their program to help banks and financial institution by loans. This reassurring factor really triggered a sharp jump during last hour of Wall Street Trading.
Overnight performance is good over at Wall Street and this will definately have a very significant impact on the Asia market which opening after Dow Jones Industrial index. Most Asia markets are likely to have a very strong rally led by banks and stocks in financial sectors.
Not an inducement to trade.
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