U.S. stocks gained after Citigroup released better than expected earnings and Apple’s rating was boosted ahead of their earnings report on July 22. Apple’s target price was also increased pushing the stock 1.3% higher. At session close the S&P 500 was 0.48% higher and the Dow Jones was 0.66% higher, closing again above 17,000. Asian stocks increased across the region. The Nikkei added 0.64% as the Yen weakened against the Dollar, following the Bank of Japan’s decision to maintain their current monetary policy and lowered the forecast for the economy. The Yen is currently trading around ¥101.56 compared to ¥101.40. The Hang Seng added 0.49% before the release of China’s second-quarter economic growth figures. European markets are lower today after weak German Sentiment data. Currently, the CAC 40 is down 0.51% while Germany’s DAX is off 0.44% and London’s FTSE 100 is lower by 0.12%.
WTI Crude rebounded slightly as violence in Libya came into the spotlight. Following fighting over the Tripoli International Airport and in Benghazi the UN announced it would be withdrawing staff from the country. However, the price declined again as focus moved to an inventory report from the API at 8.30pm. Gold dropped strongly yesterday from $1,339.5/ounce to $1,302/ounce. The metal is declining due to speculation that the Fed will raise interest rates and also due to the bullish movement in stocks. Traders should focus on U.S. data today including Retail Sales at 12.30 pm GMT and a speech from Janet Yellen at 2pm GMT.
Today’s Main Events:
08.30 GMT: GBP – CPI – measures the change in the price of goods and services from the perspective of the consumer.
09.00 GMT: EUR – German ZEW Economic Sentiment – gauges the six-month economic outlook
09.00 GMT: GBP – BoE Gov Carney Speaks – Due to testify, along with BOE Deputy Governor Andrew Bailey, about the Financial Stability Report at the House of Commons Treasury Committee Hearing, in London
12.30 GMT: USD – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level.
14.00 GMT: USD – Fed Chair Yellen Testifies – Due to testify on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC
July 15, 2014 – Daily Market News
Today’s Hot Assets: EUR, GBP, USD
U.S. stocks gained after Citigroup released better than expected earnings and Apple’s rating was boosted ahead of their earnings report on July 22. Apple’s target price was also increased pushing the stock 1.3% higher. At session close the S&P 500 was 0.48% higher and the Dow Jones was 0.66% higher, closing again above 17,000. Asian stocks increased across the region. The Nikkei added 0.64% as the Yen weakened against the Dollar, following the Bank of Japan’s decision to maintain their current monetary policy and lowered the forecast for the economy. The Yen is currently trading around ¥101.56 compared to ¥101.40. The Hang Seng added 0.49% before the release of China’s second-quarter economic growth figures. European markets are lower today after weak German Sentiment data. Currently, the CAC 40 is down 0.51% while Germany’s DAX is off 0.44% and London’s FTSE 100 is lower by 0.12%.
WTI Crude rebounded slightly as violence in Libya came into the spotlight. Following fighting over the Tripoli International Airport and in Benghazi the UN announced it would be withdrawing staff from the country. However, the price declined again as focus moved to an inventory report from the API at 8.30pm. Gold dropped strongly yesterday from $1,339.5/ounce to $1,302/ounce. The metal is declining due to speculation that the Fed will raise interest rates and also due to the bullish movement in stocks. Traders should focus on U.S. data today including Retail Sales at 12.30 pm GMT and a speech from Janet Yellen at 2pm GMT.
Today’s Main Events:
08.30 GMT: GBP – CPI – measures the change in the price of goods and services from the perspective of the consumer.
09.00 GMT: EUR – German ZEW Economic Sentiment – gauges the six-month economic outlook
09.00 GMT: GBP – BoE Gov Carney Speaks – Due to testify, along with BOE Deputy Governor Andrew Bailey, about the Financial Stability Report at the House of Commons Treasury Committee Hearing, in London
12.30 GMT: USD – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level.
14.00 GMT: USD – Fed Chair Yellen Testifies – Due to testify on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC
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