By Chris Becker
All eyes were on the US Senate last night as the impasse over the government shutdown seems to be resolved, sending US stocks higher, surging late in the session, although helped along by very positive earnings. European markets were also positive albeit with more modest gains, while the USD strengthened ever so slightly against the majors with the latest round of Treasury auctions seeing yields stabilise above the 2.6% level.
Recapping action in Asia yesterday where in mainland China the Shanghai Composite continued its advance above resistance at 3400 points, closing up 0.3% to 3502 points. As expected, getting past the 3400 level has put the bearish notions behind with pretty much daylight ahead, but this seems a little overcooked with momentum at twice its normal levels:
