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(Kitco News) – World stock markets were mostly higher overnight as trader and investor risk appetite is on the upswing to start the business week. U.S. stock indexes are pointed toward higher openings when the New York day session begins.
Gold prices are lower in pre-U.S-session trading, amid the better risk appetite in the marketplace.
In the overnight news, the closely watched German Ifo business confidence index hit a record high of 115.1 in June from 114.6 in May. This news helped to lift European shares and support the risk-on mentality in the markets so far today.
The key "outside markets" on Monday morning see Nymex crude oil futures prices slightly higher on more tepid short covering after hitting a 14-month low last week. The oil market bears still have the solid overall near-term technical advantage as prices are trading below $44.00 a barrel. Meantime, the U.S. dollar index is firmer early today. The greenback bears still have the overall near-term technical advantage.
U.S. economic data due for release Monday includes durable goods orders, the Chicago Fed national activity index, and the Texas manufacturing outlook survey.
By Jim Wyckoff, contributing to Kitco News; firstname.lastname@example.org