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US Market Update TRADETHENEWS.COM STAFF
(US) Market Close Summary   
Thu, 27 Aug 05:01 PM EST/10:01 PM GMT
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The upside momentum continued for US stock traders today. Strong equity performance in Asia and Europe kept the risk on momentum in tack. A solid upward revision to Q2 GDP only added to the positive sentiment and kept demand for US Treasury debt muted. Commodity markets rose on some of the most aggressive buying in quite some time. Oil futures surged 10% on the day while copper climbed nearly 4%. The US Dollar added to the snapback move from Monday's lows. The day was not without some drama though as volatility remained firmly entrenched as evident by a quick 250 point move off the the Dow's high in the middle on the NY afternoon before a V shaped recovery into the close. This marked the third straight session that US stocks had dramatic moves in the sessions final 90 minutes. When it was all said and done the S&P cash posted its biggest two day gain on record.

- Dow Jones +2.3%
- S&P500 +2.4%
- Nasdaq +2.5%

- US 2-yr: +2bps at 0.69%
- 10-yr: +1bps at 2.19%
- 30-yr: flat at 2.93%
- 2-10 spread: -1bps at 1.50%

Commodities:
- Oct crude oil $42.66/brl, +10.5%
- Dec Gold $1,124/oz, -0.1%
- Sept Silver $14.45/oz, +3.0%
- Sept Copper $2.33/oz, +3.3% ...
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