U.S. stocks finished slightly higher as investors weighed worse than expected housing data against earnings reports. Sales of existing homes in June fell by 1.1%, marking the first decline in four months. The S&P 500 added 0.03%, adding only one point to 1,978.91. The Dow Jones added 0.13% closing at 16,982.59. Asian markets increased across the region. The Hang Seng added 0.87%, gaining for a 6th day on reports of its ‘through train’ scheme which will allow investors to trade between both Shanghai and Hong Kong. The Nikkei added 0.57% as Nissan climbed 3.6% after positive earnings. European markets are mixed today after increased sanctions were announced against Russia. Currently, the FTSE 100 is up 0.13% while the DAX gains 0.12%. The CAC 40 is off 0.12%.
WTI Crude is trading choppy near a two week low. The American Petroleum Institute will be releasing inventory data at 8.30pm today. Inventory reports have caused volatility in recent weeks as the market seems to be over supplied in the U.S. Data coming later in the week, including U.S. GDP and NFP figures, will also cause volatility for oil as they will be used to predict future demand for the commodity. Gold has been trading in a range between $1,302/ounce and $1,309/ounce. The price has remained at this level due to continued tension in the Middle East and in Ukraine. However, we can clearly see bearish pressure ahead of Wednesday’s FOMC meeting and Friday’s U.S. Non-farm data. Today traders should pay attention to the U.S. Consumer Confidence index which is coming out at 2PM GMT.
Today’s Main Events:
14.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity.
23.50 GMT: JPY – Industrial Production – measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
July 29, 2014 – Daily Market News
Today’s Hot Assets: USD, Oil
U.S. stocks finished slightly higher as investors weighed worse than expected housing data against earnings reports. Sales of existing homes in June fell by 1.1%, marking the first decline in four months. The S&P 500 added 0.03%, adding only one point to 1,978.91. The Dow Jones added 0.13% closing at 16,982.59. Asian markets increased across the region. The Hang Seng added 0.87%, gaining for a 6th day on reports of its ‘through train’ scheme which will allow investors to trade between both Shanghai and Hong Kong. The Nikkei added 0.57% as Nissan climbed 3.6% after positive earnings. European markets are mixed today after increased sanctions were announced against Russia. Currently, the FTSE 100 is up 0.13% while the DAX gains 0.12%. The CAC 40 is off 0.12%.
WTI Crude is trading choppy near a two week low. The American Petroleum Institute will be releasing inventory data at 8.30pm today. Inventory reports have caused volatility in recent weeks as the market seems to be over supplied in the U.S. Data coming later in the week, including U.S. GDP and NFP figures, will also cause volatility for oil as they will be used to predict future demand for the commodity. Gold has been trading in a range between $1,302/ounce and $1,309/ounce. The price has remained at this level due to continued tension in the Middle East and in Ukraine. However, we can clearly see bearish pressure ahead of Wednesday’s FOMC meeting and Friday’s U.S. Non-farm data. Today traders should pay attention to the U.S. Consumer Confidence index which is coming out at 2PM GMT.
Today’s Main Events:
14.00 GMT: USD – CB Consumer Confidence – measures the level of consumer confidence in economic activity.
23.50 GMT: JPY – Industrial Production – measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
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