Stocks Surge As Oil and Gold Drop
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Stocks are ripping higher Thursday after hawkish comments from ECB President Jean-Claude Trichet and speculation of a solution in Libya sent rapidity rising commodities prices lower.
Heading in to the 1 o'clock hour the Dow is up 175, the Nasdaq is up 49 and the S&P 500 is up 19.
European Central Bank President Jean-Claude Trichet said that it was possible that there could be an increase in the bank's benchmark interest rate at its next meeting, citing increased concerns about inflation. Any rate hike would not indicate a series of further hikes.
In Libya, various reports suggested that Hugo Chavez will broker Gaddafi peace deal.
Gold is down over $22 to $1415.30. Crude is down $1.33 to $100.90.
Heading in to the 1 o'clock hour the Dow is up 175, the Nasdaq is up 49 and the S&P 500 is up 19.
European Central Bank President Jean-Claude Trichet said that it was possible that there could be an increase in the bank's benchmark interest rate at its next meeting, citing increased concerns about inflation. Any rate hike would not indicate a series of further hikes.
In Libya, various reports suggested that Hugo Chavez will broker Gaddafi peace deal.
Gold is down over $22 to $1415.30. Crude is down $1.33 to $100.90.
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