U.S markets finished lower, losing their record levels. Markets declined as U.S data missed expectations and oil prices dropped to a new 5 year low. The Dow Jones lost 0.31% and fell to 17,983.07. The S&P 500 lost 0.49% closing at 2,080.35. Asian markets climbed. The Nikkei remained closed for a holiday and will remain so until next week. The Hang Seng added 0.44% after being open for just half a day. The HSBC Manufacturing PMI was released and slightly beat expectations at 49.6. The Shanghai Index gained 2.18% making it the top performing equity market of the year. European markets finished higher today as they pared losses during a shortened trading day. The DAX remained closed as traders took the New Year Holiday early. The FTSE 100 closed 0.42% and the CAC 40 closed 0.6% higher.
WTI Crude continued to drop and has now reached its lowest price since May 2009. Declines were seen after the API released data showing that stockpiles climbed by 760,000 barrels over the past week. In addition to this Chinese HSBC Manufacturing data was released and showed that the economy is still declining. The EIA will release further data at 3.30 PM (GMT). Gold posted strong gains yesterday and climbed back above $1,200/ounce. Traders invested in the metal as a safe haven asset and gains were seen as traders sold off positions on the Dollar. The price has rebounded slightly and is trading around $1,196/ounce. Yesterday’s gains were supported by the falling equities market but as markets opened higher again today they could pressure the price down.
Today’s Main Events:
13.30 GMT: USD – Initial Jobless Claims – measures the number of individuals who filed for unemployment insurance for the first time during the past week.
15.00 GMT: USD – Pending Home Sales – measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.
15.30 GMT: USD – Crude Oil Inventories – measures the weekly change in the number of barrels of commercial crude oil held by US firms.
December 31, 2014 – Daily Market News
Today’s Hot Assets: Gold, Oil
U.S markets finished lower, losing their record levels. Markets declined as U.S data missed expectations and oil prices dropped to a new 5 year low. The Dow Jones lost 0.31% and fell to 17,983.07. The S&P 500 lost 0.49% closing at 2,080.35. Asian markets climbed. The Nikkei remained closed for a holiday and will remain so until next week. The Hang Seng added 0.44% after being open for just half a day. The HSBC Manufacturing PMI was released and slightly beat expectations at 49.6. The Shanghai Index gained 2.18% making it the top performing equity market of the year. European markets finished higher today as they pared losses during a shortened trading day. The DAX remained closed as traders took the New Year Holiday early. The FTSE 100 closed 0.42% and the CAC 40 closed 0.6% higher.
WTI Crude continued to drop and has now reached its lowest price since May 2009. Declines were seen after the API released data showing that stockpiles climbed by 760,000 barrels over the past week. In addition to this Chinese HSBC Manufacturing data was released and showed that the economy is still declining. The EIA will release further data at 3.30 PM (GMT). Gold posted strong gains yesterday and climbed back above $1,200/ounce. Traders invested in the metal as a safe haven asset and gains were seen as traders sold off positions on the Dollar. The price has rebounded slightly and is trading around $1,196/ounce. Yesterday’s gains were supported by the falling equities market but as markets opened higher again today they could pressure the price down.
Today’s Main Events:
13.30 GMT: USD – Initial Jobless Claims – measures the number of individuals who filed for unemployment insurance for the first time during the past week.
15.00 GMT: USD – Pending Home Sales – measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.
15.30 GMT: USD – Crude Oil Inventories – measures the weekly change in the number of barrels of commercial crude oil held by US firms.
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