Daily Market News: June 19, 2014
June 19, 2014 10:55 amVideo
Latest News
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June 19, 2014 – Daily Market News
Today’s Hot Asset: USD
U.S. stocks rallied after the FOMC statement. The Fed stated that economic recovery is ongoing and continuing to strengthen, while inflation is under control. A further $10 Billion was removed from quantitative easing, now down to $35 Billion/month. The S&P 500 closed 0.77% higher, once again reaching a record at 1,956.98 and the Dow Jones closed 0.58% higher at 19,906.62. Asian stocks were mixed again. The Nikkei added 1.62% as the Dollar climbed following Yellen’s comments. The Hang Seng, however, declined 0.11% due to concerns about the health of China’s economy. European stocks opened higher as investors welcomed Yellen’s comments.
WTI Crude declined after the EIA reported a lower than expected decline in inventories. The price is now trading choppy as investors weigh up the supply data against the tension in Iraq and Yellen’s comments. Gold is climbing due to increased violence in Iraq. The Federal Reserve also stated that interest rates will remain low which boosted physical demand for the metal.
Today’s Main Events:
08.30 GMT: GBP – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level
12.30 GMT: USD – Initial Jobless Claims – measures the number of individuals who filed for unemployment insurance for the first time during the past week
14.00 GMT: USD – Philadelphia Fed Manufacturing Index – rates the relative level of general business conditions in Philadelphia
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