U.S. stocks closed higher following a rally in biotech shares. At session close the S&P 500 was 0.67% higher and the Dow Jones added 0.55%. Asian markets were mixed. The Nikkei added 0.66% as the Dollar increased against the Yen, trading at ¥102.47. The Hang Seng, however, lost 0.36% due to fears the government won’t be able to boost economic growth sufficiently. European markets are mixed today after Eurozone GDP missed expectations and stalled in the second quarter. Currently, the FTSE 100 is higher by 0.14%, while the CAC 40 is leading the DAX lower. They are down 0.39% and 0.33% respectively.
WTI Crude is raging between $96.75/barrel and $97.75/barrel. The EIA reported an increase in inventories of 1.4million barrels which should put pressure on the price. Traders should stay focused on geopolitical tension as it could create some short term volatility for the commodity. Gold climbed following worse than expected Retail Sales Data from the U.S. Gains may be limited due to the overall positive outlook for the U.S. economy which is pushing the Dollar upwards in the long term.
Today’s Main Events:
09.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer.
09.00 GMT: EUR – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
12.30 GMT: USD – Initial Jobless Claims – measures the number of individuals who filed for unemployment insurance for the first time during the past week.
August 14, 2014 – Daily Market News
Today’s Hot Asset: EUR
U.S. stocks closed higher following a rally in biotech shares. At session close the S&P 500 was 0.67% higher and the Dow Jones added 0.55%. Asian markets were mixed. The Nikkei added 0.66% as the Dollar increased against the Yen, trading at ¥102.47. The Hang Seng, however, lost 0.36% due to fears the government won’t be able to boost economic growth sufficiently. European markets are mixed today after Eurozone GDP missed expectations and stalled in the second quarter. Currently, the FTSE 100 is higher by 0.14%, while the CAC 40 is leading the DAX lower. They are down 0.39% and 0.33% respectively.
WTI Crude is raging between $96.75/barrel and $97.75/barrel. The EIA reported an increase in inventories of 1.4million barrels which should put pressure on the price. Traders should stay focused on geopolitical tension as it could create some short term volatility for the commodity. Gold climbed following worse than expected Retail Sales Data from the U.S. Gains may be limited due to the overall positive outlook for the U.S. economy which is pushing the Dollar upwards in the long term.
Today’s Main Events:
09.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer.
09.00 GMT: EUR – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
12.30 GMT: USD – Initial Jobless Claims – measures the number of individuals who filed for unemployment insurance for the first time during the past week.
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