U.S. stocks gained following better than expected earnings and deal news. For example, Time Warner rejected a takeover bid by 21st Century Fox for $80 billion, pushing shares 17% higher. The Beige Book also showed that economic conditions and labour markets continued to improve. At session close, the S&P 500 was 0.42% higher and the Dow Jones was 0.45% higher closing at a record for the 15th time this year at 17,138.2. Asian stocks declined slightly across the region. The Nikkei lost 0.06% after bond yields fell in the euro-zone and the U.S and the dollar declined to ¥101.48 from ¥101.68. The Hang Seng lost 0.01%. European stocks are lower after new sanctions were imposed on Russia by the U.S. and EU, bring Ukraine back into the spotlight. Currently, the CAC 40 is down 0.53% while London’s FTSE 100 is off 0.42% and Germany’s DAX is lower by 0.32%.
WTI Crude gained after bullish data from the EIA. Inventories declined by 7.5million barrels, a higher amount than expected. In addition to this, two Libyan ports which were recently re-opened are unlikely to resume oil exports before August due to buyers pressing for discounts. Gold prices rose following better than expected data from China, reported yesterday. Physical demand also increased as investors were attracted to the low price. The price is once again falling as traders assess Yellen’s comments on tighter monetary policy and U.S. data coming later in the day.
Today’s Main Events:
09.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer
12.30 GMT: USD – Building Permits – measures the change in the number of new building permits issued by the government
12.30 GMT: USD – Initial Jobless Claims – measures the number of individuals who filed for unemployment insurance for the first time during the past week
14.00 GMT: USD – Philadelphia Fed Manufacturing Index – rates the relative level of general business conditions in Philadelphia
23.50 GMT: JPY – Monetary Policy Meeting Minutes – a detailed record of the Bank of Japan’s policy setting meeting, containing in-depth insights into the economic conditions that influenced the decision on where to set interest rates.
July 17, 2014 – Daily Market News
Today’s Hot Assets: EUR, USD, JPY
U.S. stocks gained following better than expected earnings and deal news. For example, Time Warner rejected a takeover bid by 21st Century Fox for $80 billion, pushing shares 17% higher. The Beige Book also showed that economic conditions and labour markets continued to improve. At session close, the S&P 500 was 0.42% higher and the Dow Jones was 0.45% higher closing at a record for the 15th time this year at 17,138.2. Asian stocks declined slightly across the region. The Nikkei lost 0.06% after bond yields fell in the euro-zone and the U.S and the dollar declined to ¥101.48 from ¥101.68. The Hang Seng lost 0.01%. European stocks are lower after new sanctions were imposed on Russia by the U.S. and EU, bring Ukraine back into the spotlight. Currently, the CAC 40 is down 0.53% while London’s FTSE 100 is off 0.42% and Germany’s DAX is lower by 0.32%.
WTI Crude gained after bullish data from the EIA. Inventories declined by 7.5million barrels, a higher amount than expected. In addition to this, two Libyan ports which were recently re-opened are unlikely to resume oil exports before August due to buyers pressing for discounts. Gold prices rose following better than expected data from China, reported yesterday. Physical demand also increased as investors were attracted to the low price. The price is once again falling as traders assess Yellen’s comments on tighter monetary policy and U.S. data coming later in the day.
Today’s Main Events:
09.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer
12.30 GMT: USD – Building Permits – measures the change in the number of new building permits issued by the government
12.30 GMT: USD – Initial Jobless Claims – measures the number of individuals who filed for unemployment insurance for the first time during the past week
14.00 GMT: USD – Philadelphia Fed Manufacturing Index – rates the relative level of general business conditions in Philadelphia
23.50 GMT: JPY – Monetary Policy Meeting Minutes – a detailed record of the Bank of Japan’s policy setting meeting, containing in-depth insights into the economic conditions that influenced the decision on where to set interest rates.
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