U.S. stocks ended the day lower for the first time this month. Technology stocks were mostly lower as shares of Twitter Inc. fell 2.7% and Facebook slipped 1.5%. At session close, the S&P 500 was 0.39% lower and the Dow Jones was 0.26% lower. Asian stocks were mixed during today’s session. The Nikkei lost 0.42% as the Yen strengthened against the U.S dollar buying ¥101.72, down from ¥102.11 a day earlier. The Yen strengthened on the back of positive Japanese data including the Current Account. The Hang Seng closed even at 23,541.38, after a choppy session. European stocks are lower today as market attention turned to the upcoming earnings reports. Currently, the DAX is down 0.52% while London’s FTSE 100 is off 0.47% and France’s CAC 40 is lower by 0.39%.
WTI Crude is trading choppy and has reached a monthly low of almost $103/ barrel. The decline in prices was caused by reports that two oil terminals will resume exports, boosting supply. Geopolitical tension is also minimal and so is not providing any support for the commodity. The API will be releasing inventory data at 8.30pm GMT and this may provide short term trading opportunities. Gold prices climbed slightly after U.S. indices declined. Gains remain limited as there is still speculation that the Federal Reserve could raise interest rates sooner than expected. Focus will now turn to the Fed’s Meeting Minutes which will be released tomorrow.
Today’s Main Events:
08.30 GMT: GBP – Manufacturing Production – measures the change in the total inflation-adjusted value of output produced by manufacturers.
14.00 GMT: USD – JOLTS Job Openings – Number of job openings during the reported month, excluding the farming industry
17.45 GMT: USD – FOMC Member Kocherlakota Speaks – Due to speak about monetary policy and the economy at the Minnesota Business Partnership, in Minneapolis. Audience questions expected
July 8, 2014 – Daily Market News
Today’s Hot Assets: Oil, USD
U.S. stocks ended the day lower for the first time this month. Technology stocks were mostly lower as shares of Twitter Inc. fell 2.7% and Facebook slipped 1.5%. At session close, the S&P 500 was 0.39% lower and the Dow Jones was 0.26% lower. Asian stocks were mixed during today’s session. The Nikkei lost 0.42% as the Yen strengthened against the U.S dollar buying ¥101.72, down from ¥102.11 a day earlier. The Yen strengthened on the back of positive Japanese data including the Current Account. The Hang Seng closed even at 23,541.38, after a choppy session. European stocks are lower today as market attention turned to the upcoming earnings reports. Currently, the DAX is down 0.52% while London’s FTSE 100 is off 0.47% and France’s CAC 40 is lower by 0.39%.
WTI Crude is trading choppy and has reached a monthly low of almost $103/ barrel. The decline in prices was caused by reports that two oil terminals will resume exports, boosting supply. Geopolitical tension is also minimal and so is not providing any support for the commodity. The API will be releasing inventory data at 8.30pm GMT and this may provide short term trading opportunities. Gold prices climbed slightly after U.S. indices declined. Gains remain limited as there is still speculation that the Federal Reserve could raise interest rates sooner than expected. Focus will now turn to the Fed’s Meeting Minutes which will be released tomorrow.
Today’s Main Events:
08.30 GMT: GBP – Manufacturing Production – measures the change in the total inflation-adjusted value of output produced by manufacturers.
14.00 GMT: USD – JOLTS Job Openings – Number of job openings during the reported month, excluding the farming industry
17.45 GMT: USD – FOMC Member Kocherlakota Speaks – Due to speak about monetary policy and the economy at the Minnesota Business Partnership, in Minneapolis. Audience questions expected
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