Amazon Shares Jump After Surprise Profit Announcement, US Jobless Claims at a 42 Year Low
July 24, 2015 6:11 am
Asian equities dropped on Thursday after Chinese PMI data came out worse than expected, hitting 15 month lows and further compounding concerns that the region is struggling to emerge from the current economic slump. US stocks also fell for a third straight session after poor corporate results added concern for profit outlook for this periods reporting season. The Dow fell 119 points to close at 17,731, the S&P500 dropped 12 points to close at 2,102.
The Euro was treading water around the $1.09760 level against USD as the Greek parliament continued negotiations with its lenders to avoid bankruptcy. The US Dollar was holding firm at 123.91 Yen after jobless claims came out at their lowest level since November 1973. The Australian Dollar was the biggest casualty from the weak Chinese PMI data, with the currency hit a six year low of $0.7295.
Spot gold was steady on the day at $1,079.4050 an ounce, but on track for a weekly loss of nearly 4% after marking its deepest one-day loss in nearly two years on Monday. Crude oil futures rebounded from multi-month lows recorded overnight, with U.S. crude up about 0.7 percent at $48.78 a barrel, after marking its lowest settlement since March 31. Brent added 0.4 percent to $55.51, after it settled at its lowest level since April 2 on Thursday, amid persistent fears about a global supply glut.
Within the equity space Vodafone has told the market that it has made a good start to the year, with acceleration in its main quarterly sales growth as European business returned to growth and customer demand for 4G services increased. The stock was up 2.5% in early trade at 237p per share. Meanwhile in the US, Amazon surprised the markets by reporting an extremely rare quarterly profit, as well as a 20% rise in quarterly sales. Consequentially, Amazon stock jumped by around 18% in after-hours trading.
Asian equities dropped on Thursday after Chinese PMI data came out worse than expected, hitting 15 month lows and further compounding concerns that the region is struggling to emerge from the current economic slump. US stocks also fell for a third straight session after poor corporate results added concern for profit outlook for this periods reporting season. The Dow fell 119 points to close at 17,731, the S&P500 dropped 12 points to close at 2,102.
The Euro was treading water around the $1.09760 level against USD as the Greek parliament continued negotiations with its lenders to avoid bankruptcy. The US Dollar was holding firm at 123.91 Yen after jobless claims came out at their lowest level since November 1973. The Australian Dollar was the biggest casualty from the weak Chinese PMI data, with the currency hit a six year low of $0.7295.
Spot gold was steady on the day at $1,079.4050 an ounce, but on track for a weekly loss of nearly 4% after marking its deepest one-day loss in nearly two years on Monday. Crude oil futures rebounded from multi-month lows recorded overnight, with U.S. crude up about 0.7 percent at $48.78 a barrel, after marking its lowest settlement since March 31. Brent added 0.4 percent to $55.51, after it settled at its lowest level since April 2 on Thursday, amid persistent fears about a global supply glut.
Within the equity space Vodafone has told the market that it has made a good start to the year, with acceleration in its main quarterly sales growth as European business returned to growth and customer demand for 4G services increased. The stock was up 2.5% in early trade at 237p per share. Meanwhile in the US, Amazon surprised the markets by reporting an extremely rare quarterly profit, as well as a 20% rise in quarterly sales. Consequentially, Amazon stock jumped by around 18% in after-hours trading.
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