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Wall Street to catch up with Europe

WITH US equity markets shut yesterday for the Labor Day holiday, the Dow will be playing catch-up with European markets which enjoyed healthy gains across the board yesterday, spurred on by a combination of bid stories and a broadly optimistic mood following the G20 meeting. The weekend news from the G20 that the fiscal and financial stimulus packages would remain in place looks set to prop up Wall Street with gains likely for a third consecutive trading day. GFT is calling the Dow Jones to open up 45 points from Friday’s close at 9,486.