THE POST CLIFF ACROBATICS
The US Stock market opened with a bang Wednesday morning, as fears that had mounted for months regarding the fiscal cliff were suddenly relieved as US policymakers reached a tentative compromise, thus averting the looming disaster.
Beginning with the indices and composites, the NASDAQ climbed +2.57% as it settles in region of 3098.71, up +77.75 points in these moments. In addition, the S&P 500 is trading in positive territory, operating at 1454.02, gaining +27.47 points or +1.83% at the time of writing. Finally, the Dow Jones has moved higher at the opening as well, trading in the zone of 13291.60, presently +1.43% after an ascent of +187.46 points.
On the forex front the dollar fell 0.3% on EUR/USD, landing at 1.3249. The Sterling climbed to a 16-month high versus the Greenback, trading at 1.6381 and later on leveling at 1.6304. This, however, is not a bad sign for the U.S. and simply means that prevention of the fiscal cliff has decreased demand for refuge assets.