OREANDA-NEWS. November 29, 2011. The US indices jumped as risk rally unwound on the European bailout speculations. S&P 500 rose by 2.92% while Russell added 4.76% with Oil & Gas and Basic Materials as the leaders. Later Obama said that the US would support the Eurozone in case this is needed. IMF counterparts’ agreement is essential for Italy if it is going to be supported by IMF in case of financial trouble. New home sales rose 1.3% to 307K vs consensus forecast of 315K.

Asian indices rose on Tuesday. S&P/ASX 200 added 1.08%, Hang Seng  was up by 1.57%. Japanese Nikkei inched up by 2.3%. Korean Kospi added 2.27%. Shanghai stock indices rose on average by 1% as credit conditions eased and interbank yield fell in response to the regulator’s support.

The Eurogroup meeting, Economic confidence data, US S&P/Case-Shiller and FHFA home prices indices and Consumer Confidence Index from CBOT will be in focus today.