U.S. stocks ended the week higher with increases in technology stocks. Google added 3% to $600/share, following its report that revenue grew 22% in one year. Gains were also seen from Apple, Amazon and Microsoft. At session close the S&P 500 was 1.03% higher and the Dow Jones was 0.73% higher. Asian stocks declined in thin trade across the region with Japan remaining closed for a holiday. At session close the Hang Seng had lost 0.29%. European markets are lower today with focus on Ukraine and Russia. Currently, the DAX is down 0.72% while France’s CAC 40 is off 0.50% and London’s FTSE 100 is lower by 0.30%.
WTI Crude opened the week with a negative gap. This could be explained by sufficient oil supplies as Libya is set to increase exports and current geopolitical tension won’t offset supplies. However, Europe threatened harsher sanctions on Russia over the weekend and worries could surface that energy supplies could be restricted. Gold is moving higher due to heightened geopolitical tension in Ukraine and Gaza. Gains may be limited as there is still speculation of an interest rate increase in the US as data is improving.
July 21, 2014 – Daily Market News
U.S. stocks ended the week higher with increases in technology stocks. Google added 3% to $600/share, following its report that revenue grew 22% in one year. Gains were also seen from Apple, Amazon and Microsoft. At session close the S&P 500 was 1.03% higher and the Dow Jones was 0.73% higher. Asian stocks declined in thin trade across the region with Japan remaining closed for a holiday. At session close the Hang Seng had lost 0.29%. European markets are lower today with focus on Ukraine and Russia. Currently, the DAX is down 0.72% while France’s CAC 40 is off 0.50% and London’s FTSE 100 is lower by 0.30%.
WTI Crude opened the week with a negative gap. This could be explained by sufficient oil supplies as Libya is set to increase exports and current geopolitical tension won’t offset supplies. However, Europe threatened harsher sanctions on Russia over the weekend and worries could surface that energy supplies could be restricted. Gold is moving higher due to heightened geopolitical tension in Ukraine and Gaza. Gains may be limited as there is still speculation of an interest rate increase in the US as data is improving.
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