U.S. stocks were mostly higher after positive Pending Home Sales data and potential merger news. The S&P 500 closed 0.32% higher and the Dow Jones closed 0.53% higher. Gains were led by Microsoft and Pfizer after confirmation that Pfizer approached AstraZeneca about a takeover valued at $100 Billion. The Nasdaq, however, declined slightly due to another sell off of internet and technology stocks with companies such as Amazon, Netflix and Linked In pulling the index lower. Asian shares climbed following earnings news from the Bank of China and Agricultural Bank of China and the Hang Seng closed 1.45% higher. Markets in Japan remained closed due to a public holiday and so the Nikkei remained at 14,228.23. European markets are broadly higher today after another round of earnings. Currently, the DAX is up 1.19% while London’s FTSE 100 is up 0.71% and France’s CAC 40 is up 0.42%.
WTI crude is climbing after the West applied new sanctions on Russia. The EU imposed sanctions on 15 Ukrainian officials and the US imposed sanctions on seven Russians and 17 companies. Although energy supplies have not been affected yet, the risk is still present in the market. Traders will now turn their attention to inventory data from the API later today and from the EIA tomorrow. This will be closely watched as last week the EIA reported the highest gain on record. Gold is falling ahead of the FOMC Meeting minutes which will be released tomorrow. The expectation is for the Federal Reserve to continue their current pace of tapering and reduce the quantitative easing by a further $10 Billion.
Today’s Main Events:
08.30 GMT: GBP – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
14.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity.
19.30 GMT: CAD – BoC Gov Poloz Speaks – Due to testify before the House of Commons Standing Committee on Finance, in Ottawa
23.50 GMT: JPY – Industrial Production – measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities
April 29, 2014 – Daily Market News
Today’s Hot Assets: GBP, USD, CAD, JPY
U.S. stocks were mostly higher after positive Pending Home Sales data and potential merger news. The S&P 500 closed 0.32% higher and the Dow Jones closed 0.53% higher. Gains were led by Microsoft and Pfizer after confirmation that Pfizer approached AstraZeneca about a takeover valued at $100 Billion. The Nasdaq, however, declined slightly due to another sell off of internet and technology stocks with companies such as Amazon, Netflix and Linked In pulling the index lower. Asian shares climbed following earnings news from the Bank of China and Agricultural Bank of China and the Hang Seng closed 1.45% higher. Markets in Japan remained closed due to a public holiday and so the Nikkei remained at 14,228.23. European markets are broadly higher today after another round of earnings. Currently, the DAX is up 1.19% while London’s FTSE 100 is up 0.71% and France’s CAC 40 is up 0.42%.
WTI crude is climbing after the West applied new sanctions on Russia. The EU imposed sanctions on 15 Ukrainian officials and the US imposed sanctions on seven Russians and 17 companies. Although energy supplies have not been affected yet, the risk is still present in the market. Traders will now turn their attention to inventory data from the API later today and from the EIA tomorrow. This will be closely watched as last week the EIA reported the highest gain on record. Gold is falling ahead of the FOMC Meeting minutes which will be released tomorrow. The expectation is for the Federal Reserve to continue their current pace of tapering and reduce the quantitative easing by a further $10 Billion.
Today’s Main Events:
08.30 GMT: GBP – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy
14.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity.
19.30 GMT: CAD – BoC Gov Poloz Speaks – Due to testify before the House of Commons Standing Committee on Finance, in Ottawa
23.50 GMT: JPY – Industrial Production – measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities
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