The expectation is that the world economy, notably China and Japan – the latter in reconstruction mode – will experience significant growth. China’s growth estimate was lowered to 9.1%, still an impressive figure.
Hedge funds often buy future contracts on commodities betting on lower or higher future prices – hoping to make a profit on the difference.
Caterpillar’s earnings beating forecast have sent the market upward today.
The EU summit this weekend failed to reach any significant progress but there will be another meeting on Thursday.
In New Jersey, the public pension system is reported to be still in long term trouble.