Asian Markets are set to start the trading day higher after US stocks closed higher on speculation of an 11th hour second separate rescue fund, which would create a much bigger bailout fund.
The Dow Jones Industrial Average finished 52.30 points higher, or 0.43%, at 12150.13, after a report that EU officials may be creating two separate rescue funds to help contain the region's ongoing sovereign debt crisis. The S&P500 gained 1.39 points, or 0.11%, to 1258.47, while the Nasdaq fell 6.2 points or 0.23%.
Stocks turned higher as the Financial Times reported that officials are negotiating a bigger rescue effort to discuss at this week's European Union summit, including running two separate bailout funds simultaneously.
The EURUSD rose on the speculation of the additional bailout fund rising 0.1% to $1.3410 at 3:21 p.m. in New York after gaining as much as 0.2%. The 17-nation currency dropped 0.1 to 104.18 yen.
WTI Oil rose to a three-week high as equities rebounded and tension grew between the West and Iran over the Persian Gulf nation's nuclear program. Crude oil for January delivery rose 29 cents to $101.28 a barrel at on the New York Mercantile Exchange, the highest settlement since Nov. 16.
Gold fell to settle at $1,731 in quiet trade Tuesday, on track for its biggest two-day loss in two weeks, as jittery investors remained focused on Standard & Poor's credit downgrade warning for euro zone nations.
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