U.S. stocks closed lower due to lingering geopolitical concerns that the war in Gaza could escalate and tougher sanctions could be placed on Russia. At the close of the session, the S&P 500 was 0.23% lower and the Dow Jones was 0.28% lower. Asian stocks were higher across the region. The Nikkei added 0.84% as traders returned from a long weekend. The increase came as the Yen weakened against its rivals and Japanese importers entered the market low, the dollar was at ¥101.47 from ¥101.39. The Hang Seng closed 1.69% higher at its highest level of the year due to strong corporate earnings. European markets are higher as EU foreign ministers are meeting in Brussels to discuss placing more sanctions against Russia. Currently, the DAX is up 0.85% while London’s FTSE 100 is up 0.84% and France’s CAC 40 is up 0.76%
WTI Crude increased after data showed U.S. refineries are running at record capacity. The EIA released a report showing that refineries ran at 93.8% of capacity, the highest level for the week since 2005. The price is now trading choppy ahead of the inventory report from the API at 8.30 pm GMT. Gold declined due to its appeal as a safe haven asset declining. Investors are now focusing on earnings season and this could push stocks higher instead of gold. Speculation is also high that interest rates may be increased in the U.S. and with important data being released today the Dollar is at a four month high. The Core CPI will be released at 12.30 pm GMT and Retail Sales at 2pm GMT.
Today’s Main Events:
12.30 GMT: USD – Core CPI – measures the changes in the price of goods and services, excluding food and energy.
14.00 GMT: USD – Existing Home Sales – measures the change in the annualized number of existing residential buildings that were sold during the previous month
July 22, 2014 – Daily Market News
Today’s Hot Asset: USD
U.S. stocks closed lower due to lingering geopolitical concerns that the war in Gaza could escalate and tougher sanctions could be placed on Russia. At the close of the session, the S&P 500 was 0.23% lower and the Dow Jones was 0.28% lower. Asian stocks were higher across the region. The Nikkei added 0.84% as traders returned from a long weekend. The increase came as the Yen weakened against its rivals and Japanese importers entered the market low, the dollar was at ¥101.47 from ¥101.39. The Hang Seng closed 1.69% higher at its highest level of the year due to strong corporate earnings. European markets are higher as EU foreign ministers are meeting in Brussels to discuss placing more sanctions against Russia. Currently, the DAX is up 0.85% while London’s FTSE 100 is up 0.84% and France’s CAC 40 is up 0.76%
WTI Crude increased after data showed U.S. refineries are running at record capacity. The EIA released a report showing that refineries ran at 93.8% of capacity, the highest level for the week since 2005. The price is now trading choppy ahead of the inventory report from the API at 8.30 pm GMT. Gold declined due to its appeal as a safe haven asset declining. Investors are now focusing on earnings season and this could push stocks higher instead of gold. Speculation is also high that interest rates may be increased in the U.S. and with important data being released today the Dollar is at a four month high. The Core CPI will be released at 12.30 pm GMT and Retail Sales at 2pm GMT.
Today’s Main Events:
12.30 GMT: USD – Core CPI – measures the changes in the price of goods and services, excluding food and energy.
14.00 GMT: USD – Existing Home Sales – measures the change in the annualized number of existing residential buildings that were sold during the previous month
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