Market Shows Resiliency; S&P 500 Moves Closer to 4 Year Highs

 In a trading week that is light with economic data global shares rose on Tuesday while the euro inched close to a one month high and the S & P 500 moved to within only 2 percentage points away from a 4 year high.

Investors are increasingly feeling more confident about the way European leaders are responding to the economic slump in the 17 member euro area and are reacting positively to an improving jobs picture in the U.S. with lingering speculation on the periphery about further quantitative easing if the economy weakens.

Global markets have witnessed have seen more risk tolerance to buy equities following the European Central Bank’s pledge last week to buy bonds in the weeks ahead to help ease pressure on Spain and Italy under strict guidelines that have still not been determined yet but is expected to occur alongside Europe’s future rescue fund, the ESM.

 On Tuesday factory orders in Germany declined considerably more than estimated for June due in large part to slower sales in Europe while Italy’s economy showed contraction for a fourth consecutive quarter.

China will release CPI data tomorrow night which will shed light about inflation levels in China and their willingness to lower interest rates.



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