S&P 500 Reaches 5-Year Highs
Pre-market US equity futures were indicated higher after overnight data from China was much better than expected. China's trade balance grew to $31.62 billion from last month's $19.63 billion . Exports rose considerably to 14.1% month-to-month from last month's 2.9%. Imports also grew 6.0% from last month's unchanged amount. Growing imports is positive for US stocks. On the negative side Greece unemployment grew to 26.8% in October up from 26.2% in September. Despite the early strength equities sold off throughout the day while Treasuries remained weak. Early in the morning the S&P 500 touched six-year highs and quickly retreated ...
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