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Stock markets recover on Bullard’s comments

FXStreet (Mumbai) - The stock markets in the US have posted a strong recovery after being down by more than 1%. Consequently, the major European equity indices have recovered from heavy losses to trade flat.

The S&P futures are trading 0.25% higher at 1851.45, while the NASDAQ futures are trading marginally lower by 0.15% at 3746.30. The DJIA has recovered above the April 2014 low to trade at 16088 levels. Meanwhile, the Dax is now trading just 0.24% lower while the Ftse is trading down by 0.46%.

The recovery has been triggered by the Federal Reserve (Fed) official James Bullard, who said stressed the need to delay an end to the Fed’s monthly bond purchase program. Moreover, the bond purchase program is scheduled to end this month.

The dovish talk has helped the stock prices to recover losses, however the The Chicago Board Options Exchange(CBOE) Volatility Index (VIX) is still trading 3.39% higher at 27.14 levels.

United States EIA Crude Oil Stocks change rose from previous 5.015M to 8.923M in October 10

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