U.S. stocks rose following positive data and better- than- expected earnings from companies. Netflix and Comcast both released positive first quarter results causing them to rally. Existing Homes Sales decreased to 4.59M during the month of March but were higher than the predicted 4.55M. At the close of trading, the Dow Jones was 0.40% higher, the S&P 500 was 0.41% higher and the Nasdaq was 0.97% higher. Asian markets declined after the Chinese HSBC Manufacturing PMI came out below expectations at 48.3; another sign of a slowdown in the economy. The Hang Seng lost 0.91% and the Shanghai Composite lost 0.26%. The Nikkei, however, gained 0.19% after Governor Kuroda stated that the economy is still on track to reach 2% inflation and when it does, fiscal policy will change. European markets are lower despite PMI data from across the Eurozone came out strong. Currently shares in France are off as the CAC 40 drops 0.37%. The DAX is down 0.24% while the FTSE 100 in London is unchanged.
WTI Crude declined yesterday following the positive U.S. data. Prices dropped further after China released its worse than expected HSBC Manufacturing PMI. As China is the second biggest consumer of oil, soft data suggests demand could decrease. Traders should watch inventory data coming from the EIA later in the day at 2.30 pm GMT. Gold also declined yesterday and almost reached a 3 month low. Decreasing Ukraine tension, positive U.S. data and a pickup in stocks all contributed to the decline. The metal has so far traded flat today.
Today’s Main Events:
12.30 GMT: CAD – Core Retail Sales – measures the change in the total value of sales at the retail level in Canada, excluding automobiles
14.00 GMT: USD – New Home Sales – measures the annualized number of new single-family homes that were sold during the previous month
21.00 GMT: NZD – Interest Rate Decision – The Reserve Bank of New Zealand (RBNZ) governor decides where to set the rate after consulting senior bank staff and external advisers.
21.00 GMT: NZD – RBNZ Rate Statement – The Reserve Bank of New Zealand’s rate statement is the primary tool the panel uses to communicate with investors about monetary policy.
April 23, 2014 – Daily Market News
Today’s Hot Assets: EUR, USD, Oil, NZD
U.S. stocks rose following positive data and better- than- expected earnings from companies. Netflix and Comcast both released positive first quarter results causing them to rally. Existing Homes Sales decreased to 4.59M during the month of March but were higher than the predicted 4.55M. At the close of trading, the Dow Jones was 0.40% higher, the S&P 500 was 0.41% higher and the Nasdaq was 0.97% higher. Asian markets declined after the Chinese HSBC Manufacturing PMI came out below expectations at 48.3; another sign of a slowdown in the economy. The Hang Seng lost 0.91% and the Shanghai Composite lost 0.26%. The Nikkei, however, gained 0.19% after Governor Kuroda stated that the economy is still on track to reach 2% inflation and when it does, fiscal policy will change. European markets are lower despite PMI data from across the Eurozone came out strong. Currently shares in France are off as the CAC 40 drops 0.37%. The DAX is down 0.24% while the FTSE 100 in London is unchanged.
WTI Crude declined yesterday following the positive U.S. data. Prices dropped further after China released its worse than expected HSBC Manufacturing PMI. As China is the second biggest consumer of oil, soft data suggests demand could decrease. Traders should watch inventory data coming from the EIA later in the day at 2.30 pm GMT. Gold also declined yesterday and almost reached a 3 month low. Decreasing Ukraine tension, positive U.S. data and a pickup in stocks all contributed to the decline. The metal has so far traded flat today.
Today’s Main Events:
12.30 GMT: CAD – Core Retail Sales – measures the change in the total value of sales at the retail level in Canada, excluding automobiles
14.00 GMT: USD – New Home Sales – measures the annualized number of new single-family homes that were sold during the previous month
21.00 GMT: NZD – Interest Rate Decision – The Reserve Bank of New Zealand (RBNZ) governor decides where to set the rate after consulting senior bank staff and external advisers.
21.00 GMT: NZD – RBNZ Rate Statement – The Reserve Bank of New Zealand’s rate statement is the primary tool the panel uses to communicate with investors about monetary policy.
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