Wednesday, 2 March 2016

Stocks rise as Saut sees rally beginning this week

Markets started March trading on a positive note.

The S&P 500 jumped 2.4 percent on Tuesday, the STOXX Europe 600 rose 0.8 percent and the MSCI Asia Pacific Index rose 0.6 percent.

Yields on US 10-year Treasury notes rose nine basis points to 1.83 percent and West Texas Intermediate crude oil rose 1.9 percent.

The strong US stock market performance on Tuesday could vindicate Jeffrey Saut's call for a rally beginning this week.

Saut thinks that the market put in a double bottom at the 11 February low and it is "starting to take another stab on the upside".

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