U.S. stocks were mixed following gains in health care and technology shares. The S&P 500 closed at a record of 1,987.01, 0.18% higher after Apple shares increased and climbed to the highest since 2012. However, the Dow jones declined 0.16% after Boeing fell 2.3% despite lifting its outlook for 2014. Asian markets were also mixed. The Nikkei lost 0.29% as the Yen weakened due to weaker than expected trade data from Japan. The dollar was trading at ¥101.54, up from ¥101.35 the day before. The Hang Seng, however, climbed 0.6% after the HSBC Manufacturing PMI showed Chinese manufacturing activity rising to its best level in 18 months. European markets are lower today following weaker than expected earnings from Unilever which lost 1.9%. Currently, the CAC 40 is down 0.51% while Germany’s DAX is off 0.40% and London’s FTSE 100 is lower by 0.27%.
WTI Crude climbed after the EIA reported inventories to have declined at a higher rate than expected. According to Bloomberg, Cushing supplies fell by 1.45 million barrels. Stockpiles are now at their lowest level in 6 years which adds additional upwards pressure. Prices were also supported by positive Chinese data. Geo political tension is not currently affecting the price but traders should remain up- to- date as any significant changes could push the price even higher. Gold declined as equities increased. Lingering tension in the Middle East and Ukraine has recently provided support but gains have been limited due to speculation over when the Federal Reserve will raise interest rates.
Today’s Main Events:
07.30 GMT: EUR – German Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector
08.30 GMT: GBP – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level
14.00 GMT: USD – New Home Sales – measures the annualized number of new single-family homes that were sold during the previous month
23.30 GMT: JPY – Tokyo CPI – measures the change in the price of goods and services purchased by consumers in Tokyo, excluding fresh food.
July 24, 2014 – Daily Market News
Today’s Hot Asset: USD
U.S. stocks were mixed following gains in health care and technology shares. The S&P 500 closed at a record of 1,987.01, 0.18% higher after Apple shares increased and climbed to the highest since 2012. However, the Dow jones declined 0.16% after Boeing fell 2.3% despite lifting its outlook for 2014. Asian markets were also mixed. The Nikkei lost 0.29% as the Yen weakened due to weaker than expected trade data from Japan. The dollar was trading at ¥101.54, up from ¥101.35 the day before. The Hang Seng, however, climbed 0.6% after the HSBC Manufacturing PMI showed Chinese manufacturing activity rising to its best level in 18 months. European markets are lower today following weaker than expected earnings from Unilever which lost 1.9%. Currently, the CAC 40 is down 0.51% while Germany’s DAX is off 0.40% and London’s FTSE 100 is lower by 0.27%.
WTI Crude climbed after the EIA reported inventories to have declined at a higher rate than expected. According to Bloomberg, Cushing supplies fell by 1.45 million barrels. Stockpiles are now at their lowest level in 6 years which adds additional upwards pressure. Prices were also supported by positive Chinese data. Geo political tension is not currently affecting the price but traders should remain up- to- date as any significant changes could push the price even higher. Gold declined as equities increased. Lingering tension in the Middle East and Ukraine has recently provided support but gains have been limited due to speculation over when the Federal Reserve will raise interest rates.
Today’s Main Events:
07.30 GMT: EUR – German Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector
08.30 GMT: GBP – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level
14.00 GMT: USD – New Home Sales – measures the annualized number of new single-family homes that were sold during the previous month
23.30 GMT: JPY – Tokyo CPI – measures the change in the price of goods and services purchased by consumers in Tokyo, excluding fresh food.
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