Bullish Manufacturing Data Boosts Investor Optimism
July 24, 2014 11:00 am
July 24, 2014 – Indices News
Asian markets have moved upward for the most part, with the Japanese market being the exception. The main factor moving markets has been better than expected Chinese manufacturing PMI data – which revived investor optimism in the world’s second largest economy and dealt a blow to doomsday predictions that had been prevalent in analyst circles. For Japan, the release of trade balance data revealing a large deficit put downward pressure on equities -forcing the Nikkei to close down 0.29%. The Hang Seng closed up 0.71% while the ASX 200 closed 0.2% higher.
European markets have been performing bullishly today in light of solid data from the Eurozone. Both German and Eurozone Manufacturing PMI data came out better than expected, counteracting any leftover anxiety from recent geopolitical crises. At 12:30 GMT, US initial jobless claims data will be published and we will see US Home sales data come out at 14:00 GMT. Given the importance of US market to European firms, bullish performance across the pond could help European markets climb further. For now, the Stoxx 50 is 0.73% higher, the FTSE is up 0.08%, and the DAX is up 0.45%.
American markets have not opened yet, though equity futures are little changed ahead of earnings. Due to the sheer number of important companies reporting today ( firms like General Motors, Amazon, Starbucks), significant movement is unlikely until these reports come out. Note that US data will also have an effect on markets, though it may be less critical than private sector reports. Yesterday the Dow closed down 0.16%, the S&P closed up 0.18%, and the Nasdaq closed up 0.40%.
July 24, 2014 – Indices News
Asian markets have moved upward for the most part, with the Japanese market being the exception. The main factor moving markets has been better than expected Chinese manufacturing PMI data – which revived investor optimism in the world’s second largest economy and dealt a blow to doomsday predictions that had been prevalent in analyst circles. For Japan, the release of trade balance data revealing a large deficit put downward pressure on equities -forcing the Nikkei to close down 0.29%. The Hang Seng closed up 0.71% while the ASX 200 closed 0.2% higher.
European markets have been performing bullishly today in light of solid data from the Eurozone. Both German and Eurozone Manufacturing PMI data came out better than expected, counteracting any leftover anxiety from recent geopolitical crises. At 12:30 GMT, US initial jobless claims data will be published and we will see US Home sales data come out at 14:00 GMT. Given the importance of US market to European firms, bullish performance across the pond could help European markets climb further. For now, the Stoxx 50 is 0.73% higher, the FTSE is up 0.08%, and the DAX is up 0.45%.
American markets have not opened yet, though equity futures are little changed ahead of earnings. Due to the sheer number of important companies reporting today ( firms like General Motors, Amazon, Starbucks), significant movement is unlikely until these reports come out. Note that US data will also have an effect on markets, though it may be less critical than private sector reports. Yesterday the Dow closed down 0.16%, the S&P closed up 0.18%, and the Nasdaq closed up 0.40%.
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