U.S. stocks closed lower after U.S. data was mostly worse than expected with the Michigan Consumer Sentiment falling to 79.2. Losses were also seen due to reports that tension between Russian and Ukraine increased. At session close, stocks shrugged off some of their losses and the S&P 500 closed 0.01% lower and the Dow Jones closed 0.3% lower. Asian markets ended the session with little change after advancing for 5 days. The Nikkei added 0.03% as the Yen climbed against the Yen, trading around ¥102.46. The Hang Seng closed even despite weak data. European markets are higher today as officials from Ukraine and Russia met in Berlin for talks. Currently, the DAX is up 1.33% while France’s CAC 40 is up 1.11% and London’s FTSE 100 is up 0.61%.
WTI Crude declined following signs of slowing demand. The EIA and IEA both cut forecasts for global growth for 2014. Gold dropped significantly following the easing geopolitical tension in Ukraine. Traders were then attracted by the low price and pushed the metal back above $1,300/ounce. Investors should watch the U.S stock market as any advances would be bearish for Gold.
August 18, 2014 – Daily Market News
U.S. stocks closed lower after U.S. data was mostly worse than expected with the Michigan Consumer Sentiment falling to 79.2. Losses were also seen due to reports that tension between Russian and Ukraine increased. At session close, stocks shrugged off some of their losses and the S&P 500 closed 0.01% lower and the Dow Jones closed 0.3% lower. Asian markets ended the session with little change after advancing for 5 days. The Nikkei added 0.03% as the Yen climbed against the Yen, trading around ¥102.46. The Hang Seng closed even despite weak data. European markets are higher today as officials from Ukraine and Russia met in Berlin for talks. Currently, the DAX is up 1.33% while France’s CAC 40 is up 1.11% and London’s FTSE 100 is up 0.61%.
WTI Crude declined following signs of slowing demand. The EIA and IEA both cut forecasts for global growth for 2014. Gold dropped significantly following the easing geopolitical tension in Ukraine. Traders were then attracted by the low price and pushed the metal back above $1,300/ounce. Investors should watch the U.S stock market as any advances would be bearish for Gold.
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