U.S. stocks closed slightly lower yesterday, but posted an overall gain for the month of June. The S&P 500 gained 3.9% throughout the month and the Dow jones added 1.9%. Asian stocks were mixed for a second day of trading. The Nikkei added 1.08% as investors assessed a business sentiment survey which showed that large companies reported that they plan to increase capital spending this year. The Hang Seng, however, remained closed for a public holiday. European stocks are higher today despite weak data from across the Eurozone. Currently, the CAC 40 is up 0.65% while London’s FTSE 100 is up 0.54% and Germany’s DAX is up 0.30%.
WTI Crude climbed after data showed that manufacturing expanded during the past year in China. This shows sustained growth in the Chinese economy and signals greater demand from the second largest consumer. The API Will be releasing inventory data today at 8.30pm GMT. Gold climbed to a 3 month high yesterday after disappointing U.S. data. The price is now trading choppy. Traders should remain focused on the political situation in Iraq and Ukraine as they may spark short movements for the metal.
Today’s Main Events:
08.30 GMT: GBP – Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector
14.00 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
July 1, 2014 – Daily Market News
Today’s Hot Asset: USD
U.S. stocks closed slightly lower yesterday, but posted an overall gain for the month of June. The S&P 500 gained 3.9% throughout the month and the Dow jones added 1.9%. Asian stocks were mixed for a second day of trading. The Nikkei added 1.08% as investors assessed a business sentiment survey which showed that large companies reported that they plan to increase capital spending this year. The Hang Seng, however, remained closed for a public holiday. European stocks are higher today despite weak data from across the Eurozone. Currently, the CAC 40 is up 0.65% while London’s FTSE 100 is up 0.54% and Germany’s DAX is up 0.30%.
WTI Crude climbed after data showed that manufacturing expanded during the past year in China. This shows sustained growth in the Chinese economy and signals greater demand from the second largest consumer. The API Will be releasing inventory data today at 8.30pm GMT. Gold climbed to a 3 month high yesterday after disappointing U.S. data. The price is now trading choppy. Traders should remain focused on the political situation in Iraq and Ukraine as they may spark short movements for the metal.
Today’s Main Events:
08.30 GMT: GBP – Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector
14.00 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
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