The S&P 500 reached a new intraday record on Wednesday, peaking at 1,987 and inching ever-closer to that elusive 2000 level. 7 months into 2014, this is the S&P’s 26th record close of the year. Meanwhile, China reported positive manufacturing figures, with the HSBC ‘flash’ manufacturing PMI’s rising to an 18-month high of 52.0. Both the Shanghai Composite and Hang Seng were up as a result, with the former closing up 1.28% at 2,105.06 and the latter up 0.69% at 24,137.54
Meanwhile there were positive figures out of the Euro-zone as well, with July’s Manufacturing PMI coming in at 51.9, beating the 51.7 estimate. Even better news came in the form of July’s Services PMI, which was at 54.4, well above the 52.7 prediction. A month-on-month rise in the UK’s retail sales was welcomed, although the 0.1 figure was beneath the 0.3 which had been hoped for. The FTSE is currently up 0.13 at 6808.06, the CAC 40 is up 0.35 at 4,391.25 (the French Manufacturing PMI fell short of expectations, but the Services PMI outstripped predictions)and the DAX is up 0.39 at 9,794.27, with German Manufacturing and Services PMI figures seeing solid gains, at 52.9 and 56.6 respectively.
Looking at the earnings season, Facebook reported quarterly revenue of $2.91 billion, a 61% increase Year-on-Year. It also published figures showing that mobile ads have seen a 21% in growth year-on-year. Today it’s Amazon’s turn, with the company due to report after the market close.
The S&P 500 reached a new intraday record on Wednesday, peaking at 1,987 and inching ever-closer to that elusive 2000 level. 7 months into 2014, this is the S&P’s 26th record close of the year. Meanwhile, China reported positive manufacturing figures, with the HSBC ‘flash’ manufacturing PMI’s rising to an 18-month high of 52.0. Both the Shanghai Composite and Hang Seng were up as a result, with the former closing up 1.28% at 2,105.06 and the latter up 0.69% at 24,137.54
Meanwhile there were positive figures out of the Euro-zone as well, with July’s Manufacturing PMI coming in at 51.9, beating the 51.7 estimate. Even better news came in the form of July’s Services PMI, which was at 54.4, well above the 52.7 prediction. A month-on-month rise in the UK’s retail sales was welcomed, although the 0.1 figure was beneath the 0.3 which had been hoped for. The FTSE is currently up 0.13 at 6808.06, the CAC 40 is up 0.35 at 4,391.25 (the French Manufacturing PMI fell short of expectations, but the Services PMI outstripped predictions)and the DAX is up 0.39 at 9,794.27, with German Manufacturing and Services PMI figures seeing solid gains, at 52.9 and 56.6 respectively.
Looking at the earnings season, Facebook reported quarterly revenue of $2.91 billion, a 61% increase Year-on-Year. It also published figures showing that mobile ads have seen a 21% in growth year-on-year. Today it’s Amazon’s turn, with the company due to report after the market close.
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