U.S markets moved higher on Friday reaching records once again. The gain came after markets were closed for the Christmas Holidays. The Dow Jones closed at a record for the 38th time this year, gaining for a 7th session in a row. The index closed 0.13% higher at 18,053.71. The S&P 500 reached its 52nd record close marking the fourth best annual climb ever. The index climbed 0.33% to 2,088.77. Asian markets were mixed across the region. The Nikkei lost 0.5% due to reports that a man is being tested for Ebola in Tokyo. The Hang Seng added 1.82% due to speculation that the Chinese government may increase stimulus and undertake measures to increase lending and boost growth. European markets are lower today after a third round of parliamentary elections in Greece failed. Greece now faces elections in January as parliament failed to elect Stavros Dimas as the new President. The parliament will now be dissolved and an election date will be called within 10 days. Currently the CAC 40 is down 0.58%, the DAX is down 0.82% and the FTSE is down 0.02%.
Crude Oil WTI climbed due to unrest in Libya. Tanks were set on fire by militants at Libya’s largest oil port destabilizing production. This lowered supply and pushed prices higher. Gains are limited however as supply still remains very high. Gold climbed strongly on Friday and almost reached $1,200/ounce due to rumours that China will increase monetary stimulus and loosen its lending policy. The metal is now falling back down as the Dollar strengthens. It is likely it could reach its support level as there is not much in the market to give it a boost today.
December 29, 2014 – Daily Market News
Today’s Hot Assets: Gold, EUR
U.S markets moved higher on Friday reaching records once again. The gain came after markets were closed for the Christmas Holidays. The Dow Jones closed at a record for the 38th time this year, gaining for a 7th session in a row. The index closed 0.13% higher at 18,053.71. The S&P 500 reached its 52nd record close marking the fourth best annual climb ever. The index climbed 0.33% to 2,088.77. Asian markets were mixed across the region. The Nikkei lost 0.5% due to reports that a man is being tested for Ebola in Tokyo. The Hang Seng added 1.82% due to speculation that the Chinese government may increase stimulus and undertake measures to increase lending and boost growth. European markets are lower today after a third round of parliamentary elections in Greece failed. Greece now faces elections in January as parliament failed to elect Stavros Dimas as the new President. The parliament will now be dissolved and an election date will be called within 10 days. Currently the CAC 40 is down 0.58%, the DAX is down 0.82% and the FTSE is down 0.02%.
Crude Oil WTI climbed due to unrest in Libya. Tanks were set on fire by militants at Libya’s largest oil port destabilizing production. This lowered supply and pushed prices higher. Gains are limited however as supply still remains very high. Gold climbed strongly on Friday and almost reached $1,200/ounce due to rumours that China will increase monetary stimulus and loosen its lending policy. The metal is now falling back down as the Dollar strengthens. It is likely it could reach its support level as there is not much in the market to give it a boost today.
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