"The factor in the market is that oil prices went down to $118 a barrel. Oil has been overwhelmingly the major single factor driving markets since late June. I think that is a completely sufficient explanation," said Brian Gendreau, investment strategist at ING Investment Management in New York.
This is exactly the single most impactful news Wall Street can have that lifted Dow Jones Industrial Index very significantly on 06 August 2008. This trading session has seen a very renewed and euphoric interest in stock market. Eurpoean Market, FTSE was also seen closing with a very good increase by 2.52 percent or 134.30 to its current 5,454.50.
The market movement of both Europe and Wall Street will almost definately trigger a gapping up on most major Asia market the following trading session. A renewed buying interest is what the economy needs for this current volatile time.
All mentioned above are of personal opinion, not an inducement to trade.
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