U.S. Session Update

European markets are having a positive response after some of the most influential leaders and central bankers took strong measures to protect banks from the credit crunch. The DAX 30 was recently trading 8.77% higher while the FTSE 100 was moving 4.83% to the upside. Wall Street is closed for a holiday, but S&P futures were recently up 6.8%.

In currency markets, the pound is making a strong upside move against the dollar and the euro is also ahead. The Australian and New Zealand dollars are also making some inroads after last week's steep declines. The dollar is just barely in positive territory against the yen, but remains well off the lows of the day.

Crude oil for November delivery was moving ahead by just over $3 to $80.90 per barrel. Gold for December delivery was taking a 3% hit to $830.40 per ounce as markets grew a bit more confident in the overall outlook.

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