Indices Move Sideways In Response to Corporate Earnings
August 14, 2014 1:05 pmVideo
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August 14, 2014 – Indices News
Asian stocks were mixed today, with earning releases together with speculative talk on reduction in the Federal Reserve interest-rate increases moving markets in different directions. The Shanghai Composite decreased by 0.74%, while the Hang Seng lost 0.36%. Both Chinese Financial hubs underwent a negative correction following 3 days of bullish movement due to the People’s Bank of China releasing the lowest level for its financing measure since 2008 coupled with disappointing privater sector earnings reports. In contrast, the Nikkei added 0.66% as stocks continued to climb for the second consecutive day and the yen continued to decrease relative to the dollar after talk of an interest rate increase.
European stocks rose on speculation that the European Central Bank would increase its stimulus.According to analysts, the current economic environment would require an additional response to combat deflationary pressure. At the moment, this is what seem to be driving the EU indexes upwards. Not surprisingly, the FTSE 100 advanced 0.56%, the DAX added 0.45%, and the CAC 40 increased by 0.50%.
U.S. stock futures are little changed as investors weigh corporate earnings reports. While companies like Cisco and Amgen posted 1% and 1.9% declines respectively, firms like Kohl’s and Aspen Technologies advanced 1.8% and 3.1% respectively. Note that yesterday US markets closed bullishly, with the Dow up 0.55%, the Nasdaq up 1.02%, and the S&P up 0.67%. Today, however, equities may not be as bullish.
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