U.S. markets finished mixed as falling oil prices continued to affect energy shares. Oil dropped to a 3 year low after Saudi Arabia cut their export prices to the U.S after exports declined. Sentiment was also lower after the European Commission cut their forecast for global growth to 0.8%, down from 1.2%. The decision reignited fears over a global slowdown and weak recovery. Oil fell even lower after the EU growth assessment as slower growth leads to lower demand. At session close the S&P 500 was 0.28% lower. The Dow Jones however was 0.1% higher following gains from Procter & Gamble and Wal-Mart which gained 1.44% and 1.28%, respectively.
Asian markets finished mixed. The Nikkei continued to climb, adding another 0.44% as the Yen weakened further against the Dollar. The Dollar climbed to a 7 year high against the currency and is currently trading at ¥114.5. The Hang Seng declined 0.63% as falling oil prices hit shares. Weaker casino and financial shares also dragged the index lower.
European markets are higher today, rebounding from yesterday’s losses. Gains follow positive earnings releases from companies such a Marks and Spencers. The company is currently up 9% after reporting that first half profit rose to 268 million Pounds. Currently the CAC 40 is up 1.34% while Germany’s DAX is up 1.26% and London’s FTSE 100 is up 0.93%.
November 5, 2014 – Indices News
U.S. markets finished mixed as falling oil prices continued to affect energy shares. Oil dropped to a 3 year low after Saudi Arabia cut their export prices to the U.S after exports declined. Sentiment was also lower after the European Commission cut their forecast for global growth to 0.8%, down from 1.2%. The decision reignited fears over a global slowdown and weak recovery. Oil fell even lower after the EU growth assessment as slower growth leads to lower demand. At session close the S&P 500 was 0.28% lower. The Dow Jones however was 0.1% higher following gains from Procter & Gamble and Wal-Mart which gained 1.44% and 1.28%, respectively.
Asian markets finished mixed. The Nikkei continued to climb, adding another 0.44% as the Yen weakened further against the Dollar. The Dollar climbed to a 7 year high against the currency and is currently trading at ¥114.5. The Hang Seng declined 0.63% as falling oil prices hit shares. Weaker casino and financial shares also dragged the index lower.
European markets are higher today, rebounding from yesterday’s losses. Gains follow positive earnings releases from companies such a Marks and Spencers. The company is currently up 9% after reporting that first half profit rose to 268 million Pounds. Currently the CAC 40 is up 1.34% while Germany’s DAX is up 1.26% and London’s FTSE 100 is up 0.93%.
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