American and European Markets End Their Loosing Streaks
January 28, 2014 7:55 pmVideo
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January 28, 2014 – Indices News
Asian markets are down today for the fourth straight day due to concerns about the tapering and slower profit growth in Chinese industry. Investors are worried that any tightening of US monetary policy will lead to a drop in demand for Asian goods. Considering the importance of the American market for Asian exporters, such an occurrence would be devastating. The Nikkei has closed down 0.17%, the Hang Seng has closed down 0.07%, and the ASX 200 has closed down 1.26%.
European Indices, on the other hand, have broken their 3 day losing streak and are moving forward thanks to the success of mining and financial firms. In the West, the prospect of tapering is taken as a sign of optimism for the US economy – Many believe the Fed will taper the stimulus from 75 billion dollars to 65 billion dollars only if they truly believe the American economy can handle it. Consequently, the Stoxx 50 closed up 0.80%, the FTSE closed up 0.33%, and the DAX is up 0.62%.
American Indices are going up as well for similar reasons. In addition to shrugging off any potential downsides to tapering, investors became more optimistic about US assets after Consumer Confidence rose. Keep in mind, today is the start of a 2 day Federal reserve policy meeting, so markets are moving in anticipation. Tomorrow, at 19:00 GMT, the FOMC will release a statement about the future of US monetary policy – be sure to pay attention to it to understand where indices will go. Right now, the Dow is up 0.58%, the S&P 500 is up 0.58%, and the Nasdaq is up 0.17%.
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