US stocks fell on Friday after weak fourth quarter earnings. Markets are also still reacting to the Federal Reserve’s decision to further cut the monetary stimulus. At the close of U.S. trading, the Dow Jones Industrial Average was 0.94% lower and the S&P 500 index was 0.65% lower. Asian stocks are lower after a decline in in the growth of Chinese Manufacturing; the Nikkei closed 1.98% lower. The Hang Seng, however, remained at the level of 22,035.42 due to the markets being closed for the Lunar New Year. Markets are also closed in China, Malaysia, Taiwan and Vietnam. European stocks have opened mixed; currently the FTSE 100 is 0.25% higher and the CAC 40 is 0.02% higher, the DAX, however is off 0.21%.
WTI is falling due to concerns that emerging economies may shrink as they benefited from Fed stimulus. As the Federal Reserve have decided to taper it could result in less capital flowing into their borders. There is also speculation that demand could decline from China following the weak data further pressuring the price down. The price is currently trading at $97/barrel. Gold prices declined as physical demand quietened due to Asian markets being closed. Prospects of further tapering are also lowering the price.
Today’s Main Events:
09.00 GMT: EUR – German Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector
09.30 GMT: GBP – Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector.
14.00 GMT: USD – Treasury Secretary Lew Speaks – U.S. Treasury Secretary Jack Lew (February 2013) is to speak. He speaks frequently on a broad range of subjects and his speeches are often used to signal policy shifts to the public and to foreign governments
15.00 GMT: USD – ISM Manufacturing PMI – based on data compiled from monthly replies to questions asked of purchasing and supply executives in over 400 industrial companies. For each of the indicators measured this report shows the percentage reporting each response, the net difference between the number of responses in the positive economic direction and the negative economic direction and the diffusion index.
February 3, 2014 – Daily Market News
Today’s Hot Assets: EUR , USD
US stocks fell on Friday after weak fourth quarter earnings. Markets are also still reacting to the Federal Reserve’s decision to further cut the monetary stimulus. At the close of U.S. trading, the Dow Jones Industrial Average was 0.94% lower and the S&P 500 index was 0.65% lower. Asian stocks are lower after a decline in in the growth of Chinese Manufacturing; the Nikkei closed 1.98% lower. The Hang Seng, however, remained at the level of 22,035.42 due to the markets being closed for the Lunar New Year. Markets are also closed in China, Malaysia, Taiwan and Vietnam. European stocks have opened mixed; currently the FTSE 100 is 0.25% higher and the CAC 40 is 0.02% higher, the DAX, however is off 0.21%.
WTI is falling due to concerns that emerging economies may shrink as they benefited from Fed stimulus. As the Federal Reserve have decided to taper it could result in less capital flowing into their borders. There is also speculation that demand could decline from China following the weak data further pressuring the price down. The price is currently trading at $97/barrel. Gold prices declined as physical demand quietened due to Asian markets being closed. Prospects of further tapering are also lowering the price.
Today’s Main Events:
09.00 GMT: EUR – German Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector
09.30 GMT: GBP – Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector.
14.00 GMT: USD – Treasury Secretary Lew Speaks – U.S. Treasury Secretary Jack Lew (February 2013) is to speak. He speaks frequently on a broad range of subjects and his speeches are often used to signal policy shifts to the public and to foreign governments
15.00 GMT: USD – ISM Manufacturing PMI – based on data compiled from monthly replies to questions asked of purchasing and supply executives in over 400 industrial companies. For each of the indicators measured this report shows the percentage reporting each response, the net difference between the number of responses in the positive economic direction and the negative economic direction and the diffusion index.
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