Daily Market Roundup from FXCC

[alayoua]

In a late rally US stocks climbed to end the day in positive territory. The SPX closed up 0.81% to be back in positive territory year on year. Whilst the markets expected a unified vote by the German government to be duly ratified disappointing consumer confidence figures weighed heavily in mid afternoon trade. Consumer confidence in the USA slumped last week to the second-lowest level on record as Americans grew more concerned with their financial situation and the buying climate worsened. The Bloomberg Consumer Comfort Index dropped to minus 53 in the period ended Sept. 25 from minus 52.1 the prior week.

The full outcome of the latest troika meeting is still to be revealed. Presumably the markets have, in similar fashion to the German bailout vote, already priced in a positive outcome. The depth of the rabbit hole has been potentially exposed by the head of Europe