U.S markets finished mixed. Sentiment was hit by worries over economic stability in Europe following a third parliamentary election which failed to appoint a new President. The S&P 500 reached another record close for the 53rd time this year, adding 0.09% to 2,090.57. The Dow Jones, however, ended a 7 day rally and fell 0.09% to 18,038.23. Asian markets declined across the region. During its last trading day of 2014, the Nikkei lost 1.57% as the Yen strengthened following a tax cut on corporate income. The Hang Seng lost 1.14% as sentiment was hit by the situation in Russia and upcoming elections in Greece. European markets are lower today due to falling oil prices and uncertainty regarding Greece. Greece is now headed for elections and the parliament will be dissolved after the Prime Minister failed to convince parliament to vote in a new President. Investors are worried that the far left party could take power and renegotiate the terms of their bailout. They could also reverse economic reforms and hurt recovery in the Euro zone as a whole. Currently, the FTSE is down 0.94%, the DAX is down 0.75% and the CAC 40 is down 0.75%.
WTI Crude dropped to a new 5 year low of $53/barrel in anticipation of weekly supply data. The price has decline 50% since June as supplies have been climbing and demand is not on the upside. Energy companies are now struggling with the lower prices and so producers may be forced to cut output to lower prices. Gold dropped yesterday as the Dollar strengthened and the U.S stock market rallied for seven consecutive sessions. The price rebounded today as the Dollar declined against the Yen and global stocks declined on instability fears from Greece. Pay attention to U.S CB Consumer Confidence data at 3PM (GMT).
Today’s Main Events:
15.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity
December 30, 2014 – Daily Market News
Today’s Hot Assets: Oil, Gold, USD
U.S markets finished mixed. Sentiment was hit by worries over economic stability in Europe following a third parliamentary election which failed to appoint a new President. The S&P 500 reached another record close for the 53rd time this year, adding 0.09% to 2,090.57. The Dow Jones, however, ended a 7 day rally and fell 0.09% to 18,038.23. Asian markets declined across the region. During its last trading day of 2014, the Nikkei lost 1.57% as the Yen strengthened following a tax cut on corporate income. The Hang Seng lost 1.14% as sentiment was hit by the situation in Russia and upcoming elections in Greece. European markets are lower today due to falling oil prices and uncertainty regarding Greece. Greece is now headed for elections and the parliament will be dissolved after the Prime Minister failed to convince parliament to vote in a new President. Investors are worried that the far left party could take power and renegotiate the terms of their bailout. They could also reverse economic reforms and hurt recovery in the Euro zone as a whole. Currently, the FTSE is down 0.94%, the DAX is down 0.75% and the CAC 40 is down 0.75%.
WTI Crude dropped to a new 5 year low of $53/barrel in anticipation of weekly supply data. The price has decline 50% since June as supplies have been climbing and demand is not on the upside. Energy companies are now struggling with the lower prices and so producers may be forced to cut output to lower prices. Gold dropped yesterday as the Dollar strengthened and the U.S stock market rallied for seven consecutive sessions. The price rebounded today as the Dollar declined against the Yen and global stocks declined on instability fears from Greece. Pay attention to U.S CB Consumer Confidence data at 3PM (GMT).
Today’s Main Events:
15.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity
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