Asian Markets are set to open higher after a positive night on Wall Street on the back of a Conference Board report showed consumer confidence jumped to its highest level since July. Optimism toward a meeting of euro-zone leaders offset a report that Standard & Poor's may put France's triple-A credit rating on review for a possible downgrade.
The S&P 500 rose 0.2%t to 1,195.19 at 4 p.m. New York time, rallying 3.2% in two days. The Dow Jones Industrial Average added 32.62 points, or 0.3%, to 11,555.63. The Nasdaq Composite Index retreated 0.5% to 2,515.51. The Russell 2000 Index of smaller companies, which gained 4.
Stocks extended gains today after a report showed that consumer confidence snapped back more than forecast in November as Americans turned less pessimistic on the outlook for jobs. Federal Reserve Vice Chairman Janet Yellen said the central bank has leeway to spur the U.S. recovery by purchasing more assets.
European stocks advanced for a third day as euro-area finance ministers met to discuss insuring a portion of bonds issued by debt-stricken countries.
The EURUSD dropped versus the majority of its most-traded counterparts amid speculation Europe's effort to expand its bailout fund to 1 trillion euros ($1.3 trillion) is falling short. The euro was little changed at $1.3330 at 4:08 p.m. New York time, after earlier gaining to as high as $1.3442, the strongest level since Nov. 23.
WTI Oil rose for a third day in New York after U.S. consumer confidence climbed by the most in more than eight years and Iranian protesters broke into and vandalized the British Embassy's compound in Tehran. Crude oil for January delivery rose $1.58 to $99.79 a barrel on the New York Mercantile Exchange, the highest settlement since Nov. 16.
Gold futures climbed for the second straight day amid a commodity rally after the dollar's drop boosted the appeal of raw materials as alternative investments. Gold futures for February delivery advanced 0.3% to settle at $1,718.90 an ounce at 1:57 p.m. on the Comex in New York.
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