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Wall Street is trading higher today as hope that the ECB may be getting a firmer handle on the financial crisis. In the U.S., Congress is gridlocked once more on spending.

The yellow metal broke its falling trend as it started rising in the second half of the last week of August 2014. Price of Gold rose for the three days in four sessions of the week which is shocking for jewelers and investors who expected "gold prices to continue the fall till Diwali." There is no need to worry in mid-term considering prices of the commodity since Asian demand stayed low, US currency strengthened and equities surged in the week. Market analysts are waiting for a pointer from European Central Bank (ECB) to add in support to the price of the metal.

The Italian Parliament definitely cleared on Wednesday a 54-billion-euro emergency budget plan aimed at balancing public finances by 2013 to shield the country from the risk of a debt crisis.

Gold futures slid to their lowest levels in three weeks Thursday, as a global effort to boost the liquidity of European banks slashed demand for the precious metal as a haven.

Stocks pushed higher for the fourth consecutive day as the market hinges hopes that the euro crisis could be easing. Economic data in the U.S., however, showed more softness.

The Street awaits news from the Fed and Europe, the latter not expected now until early October. Beware of a new-prompted breakout above DJIA 11,740 (S&P 1220)

Stocks are up in mid-day trading today as retail sales came in strong and EU showed some progress in handling the debt crisis. Apple is also holding up after the death of Steve Jobs.