U.S. stocks finished higher led by positive data and earnings. Core Durable Goods Orders beat expectations, increasing by 2%. Apple climbed 8.2% boosting both the S&P 500 and the Nasdaq as the heaviest weighted stock in both. Starbucks and Amazon added to gains. The S&P 500 closed 0.17% higher and the Dow Jones closed even. Asian stocks finished mixed. The Nikkei gained as the Yen softened against the U.S. Dollar following weak CPI data sparking speculation that further easing could be delayed by the Bank of Japan. The Dollar was buying ¥102.30, compared to ¥102.21 before the data. The Hang Seng, however, lost 1.5% due to concerns about rising bad loans in Chinese banks. European stocks started the day lower in the face of increased tension in Ukraine. Currently, the DAX is down 0.97%, France’s CAC 40 is off 0.34% and the FTSE 100 is lower by 0.29%.
WTI Crude experienced strong losses after the EIA reported that inventories climbed the most on record. Traders should stay focused on the rising tension in Ukraine as this will provide support for oil. Gold has also gained on Ukraine. The Ukrainian army killed five separatists. Russian President Vladimir Putin warned the Ukrainian government against further action, and the current escalation has investors worried that the US may get involved. As always focus on U.S. data including Michigan Consumer Sentiment at 1.55pm GMT.
Today’s Main Events:
08.30 GMT: GBP – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
13.55 GMT: Michigan Consumer Expectations – The Michigan sentiment index includes two major components, a “current conditions” component and an “expectations” component. The current conditions component index is based on the answers to two standard questions and the expectations component index is based on three standard questions
April 25, 2014 – Daily Market News
Today’s Hot Assets: USD, GBP
U.S. stocks finished higher led by positive data and earnings. Core Durable Goods Orders beat expectations, increasing by 2%. Apple climbed 8.2% boosting both the S&P 500 and the Nasdaq as the heaviest weighted stock in both. Starbucks and Amazon added to gains. The S&P 500 closed 0.17% higher and the Dow Jones closed even. Asian stocks finished mixed. The Nikkei gained as the Yen softened against the U.S. Dollar following weak CPI data sparking speculation that further easing could be delayed by the Bank of Japan. The Dollar was buying ¥102.30, compared to ¥102.21 before the data. The Hang Seng, however, lost 1.5% due to concerns about rising bad loans in Chinese banks. European stocks started the day lower in the face of increased tension in Ukraine. Currently, the DAX is down 0.97%, France’s CAC 40 is off 0.34% and the FTSE 100 is lower by 0.29%.
WTI Crude experienced strong losses after the EIA reported that inventories climbed the most on record. Traders should stay focused on the rising tension in Ukraine as this will provide support for oil. Gold has also gained on Ukraine. The Ukrainian army killed five separatists. Russian President Vladimir Putin warned the Ukrainian government against further action, and the current escalation has investors worried that the US may get involved. As always focus on U.S. data including Michigan Consumer Sentiment at 1.55pm GMT.
Today’s Main Events:
08.30 GMT: GBP – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
13.55 GMT: Michigan Consumer Expectations – The Michigan sentiment index includes two major components, a “current conditions” component and an “expectations” component. The current conditions component index is based on the answers to two standard questions and the expectations component index is based on three standard questions
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