Most Markets Rally on China PMI Data, Dollar Weakens Sending Commodities Higher

“European stocks reached a 17-month high and commodities gained after Chinese manufacturing data added to signs of economic recovery. The dollar slid to a six- week low versus the euro as U.S. debt talks remained deadlocked.

The Stoxx Europe 600 Index (SPX) added 0.7 percent and futures on the S&P 500 Index rose 0.4 percent as of 7:19 a.m. in New York. The Standard & Poor’s GSCI Index of raw materials increased 0.3 percent, led by natural gas and wheat. The Dollar Index (DXY) sank to a one-month low while the euro reached $1.3049, the most since Oct. 23. The yield on the 10-year Greek bond fell below 15 percent for the first time since July 2011, while Turkey’s ISE National 100 Index (XU100) of stocks climbed to a record.”

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