Strong industrial numbers coming from Europe gave investors the comfort they needed to come out and invest, giving stocks and exchange traded funds (ETFs) an early-morning boost. Industrial companies that have strong overseas exposure are getting a lift this morning on reports that eurozone industrial output surged 9.5%, the biggest pace year-on-year in two decades. Fears that the European crisis could hurt global growth were quickly put to rest, sending Caterpillar (NYSE: CAT) and Intel (NASDAQ: INTC) stock higher. [Why Copper is Swooning.]
- Industrial Select Sector SPDR (NYSE: XLI)
With the more positive mood prevailing in the markets right now, risk is the order of the day. The flight to riskier assets is pushing Treasuries lower, although few are ready to call this improved sentiment a total change of course for the markets. [TIPS ETFs: Where’s the Inflation?]
- iShares Barclays 20+ Year Treasury Bond (NYSEArca: TLT)
The euro is surging this morning, thanks to the strong production numbers coming out of the continent. It’s also lifting other currencies along with it, including the Australian and New Zealand dollars and the British Pound Sterling. [The Euro ETFs and Jim Rogers.]
- PowerShares DB G10 Currency (NYSEArca: DBV)
For more stories about the eurozone, visit our Europe category.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.