PRLog - Sep. 1, 2010 - LUXEMBOURG, Luxembourg -- "It's not common for investors to make big bets heading into key economic reports such as the ISM manufacturing and payroll reports especially when they are expected to suggest more bad news about the condition of the markets" says Jonathan Baker, a Senior Portfolio Manager at Bristol Offshore in Luxembourg
Asian Stock Markets Rise
Stock markets rising worldwide have had the effect of making U.S. Treasury prices drop and interest rates rise. 10-year Treasury note yield, which moves opposite its price, fell to 2.52 percent from 2.47 percent Tuesday afternoon. Interest rates on mortgages and other consumer loans are often set using this yield as a gauge.
Before the opening bell, Dow Jones industrial average futures rose 98, or 1 percent, to 10,104. Standard & Poor's 500 index futures rose 12.50, or 1.2 percent, to 1,060.80, Nasdaq 100 index futures rose 24.50, or 1.4 percent, to 1,791.00.
S&P/ASX 200 index in Australia jumped 2.1 percent on the upbeat growth report. The Hang Seng index in Hong Kong rose 0.4 percent, while Japan's Nikkei stock average rose 1.2 percent.
On opening, the European markets followed the gains set by the Asian markets. FTSE100 in Britain rose 1.5 percent, Germany's DAX index gained 1.1 percent, and France's CAC-40 added 1.8 percent.
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