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Tuesday, 17 August 2010 00:55 |
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Equity markets surged higher in Tuesday trading thanks to quality earnings out of the retail sector and a bid by BHP for Potash Corp. of Saskatchewan (POT). All the major indexes were up more than 1% on the day, with the Nasdaq leading on the upside on a 1.3% gain. Commodities also trended higher, while the Treasury market saw some wind come of its sails; the 10 Year Note’s yield surged up to 2.64% from its 52 week lows in Monday trading. Today’s move to riskier assets came as two retail bellwethers, Wal-Mart and Home Depot, both posted solid earnings, alleviating some investor concerns over the health of the consumer heading into the fall quarter. Many also breathed a sigh of relief after seeing the latest PPI numbers from the government, which signaled that the economy may not be on the cusp of falling into a deflationary tailspin. “The data [...] Click here to read the original article on ETFdb.com. 
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