U.S. stocks climbed after positive data. The CB Consumer Confidence reached pre -crisis levels and came out at 92.4, its highest value since 2007. The outlook for the U.S. economy continues to improve and currently this is bullish for stocks. The S&P 500 closed at a record above 2000 for the first time ever, with a daily gain of 0.11%. The Dow Jones added 0.17%. Asian markets were mixed across the region. The Nikkei added 0.09% as technology shares gained. The Hang Seng, however, lost 0.62% after news a high speed rail connecting Hong Kong to mainland Chinese cities over ran budget. European markets are mixed today as investors weigh talks between Russia and Ukraine against worse than expected German Confidence Data. Currently, The FTSE 100 is higher by 0.08%, while the DAX is leading the CAC 40 lower. They are down 0.05% and 0.02% respectively.
WTI Crude climbed slightly despite bearish data from the API. The price is now ranging ahead of a report from the EIA will also be released today at 2.30pm GMT and is expected to show a decline of 1,286 million barrels. The U.S. is also releasing their GDP tomorrow and the expectation is to see a quarterly increase of 3.9% and if this is the case we expect oil to move higher. Gold is climbing today as physical demand increases. The outlook for the metal may turn bearish as the Dollar reached a 7 month high against most currencies and Positive data is increasing bets that the Federal Reserve will increase rates sooner than expected.
Today’s Main Events:
14.30 GMT: Crude Oil Inventories – measures the weekly change in the number of barrels of commercial crude oil held by US firms.
August 27, 2014 – Daily Market News
Today’s Hot Asset: Oil
U.S. stocks climbed after positive data. The CB Consumer Confidence reached pre -crisis levels and came out at 92.4, its highest value since 2007. The outlook for the U.S. economy continues to improve and currently this is bullish for stocks. The S&P 500 closed at a record above 2000 for the first time ever, with a daily gain of 0.11%. The Dow Jones added 0.17%. Asian markets were mixed across the region. The Nikkei added 0.09% as technology shares gained. The Hang Seng, however, lost 0.62% after news a high speed rail connecting Hong Kong to mainland Chinese cities over ran budget. European markets are mixed today as investors weigh talks between Russia and Ukraine against worse than expected German Confidence Data. Currently, The FTSE 100 is higher by 0.08%, while the DAX is leading the CAC 40 lower. They are down 0.05% and 0.02% respectively.
WTI Crude climbed slightly despite bearish data from the API. The price is now ranging ahead of a report from the EIA will also be released today at 2.30pm GMT and is expected to show a decline of 1,286 million barrels. The U.S. is also releasing their GDP tomorrow and the expectation is to see a quarterly increase of 3.9% and if this is the case we expect oil to move higher. Gold is climbing today as physical demand increases. The outlook for the metal may turn bearish as the Dollar reached a 7 month high against most currencies and Positive data is increasing bets that the Federal Reserve will increase rates sooner than expected.
Today’s Main Events:
14.30 GMT: Crude Oil Inventories – measures the weekly change in the number of barrels of commercial crude oil held by US firms.
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