U.S. stocks declined due to a selloff of stocks. It looks as though markets are taking a break although some investors believe that it could be a result of increased violence in Iraq. At session close the S&P 500 was 0.64% lower and the Dow Jones was 0.7% lower. Asian stocks also declined in quiet trade across the region due to concerns over Iraq. The Nikkei lost 0.71% after investors shrugged off Prime Minister Abe’s comments regarding the awaited growth strategy. The Hang Seng lost 0.06%. European stocks traded lower throughout the day as weaker than expected Euro zone activity and German confidence weighed on markets. Currently, in mid trade Germany’s DAX lost 0.7% to 9,866.64 and the U.K.’s FTSE 100 declined 0.6%.
WTI Crude declined following a pledge from Iraq to increase output and exports. U.S. President Barack Obama also hinted that the restriction on exporting of U.S. light oil might ease. The EIA will release inventory data today at 2.30pm GMT and the expectation is to see an increase following yesterday’s report from the API. After ranging for most of the day, Gold is climbing higher once again. The extra boost came from worse than expected U.S. GDP data. Iraq will remain a focus so make sure to stay up-to-date with events.
Today’s Main Events:
12.30 GMT: USD – Core Durable Goods Orders – measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items
12.30 GMTT: USD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
June 25, 2014 – Daily Market News
Today’s Hot Asset: USD
U.S. stocks declined due to a selloff of stocks. It looks as though markets are taking a break although some investors believe that it could be a result of increased violence in Iraq. At session close the S&P 500 was 0.64% lower and the Dow Jones was 0.7% lower. Asian stocks also declined in quiet trade across the region due to concerns over Iraq. The Nikkei lost 0.71% after investors shrugged off Prime Minister Abe’s comments regarding the awaited growth strategy. The Hang Seng lost 0.06%. European stocks traded lower throughout the day as weaker than expected Euro zone activity and German confidence weighed on markets. Currently, in mid trade Germany’s DAX lost 0.7% to 9,866.64 and the U.K.’s FTSE 100 declined 0.6%.
WTI Crude declined following a pledge from Iraq to increase output and exports. U.S. President Barack Obama also hinted that the restriction on exporting of U.S. light oil might ease. The EIA will release inventory data today at 2.30pm GMT and the expectation is to see an increase following yesterday’s report from the API. After ranging for most of the day, Gold is climbing higher once again. The extra boost came from worse than expected U.S. GDP data. Iraq will remain a focus so make sure to stay up-to-date with events.
Today’s Main Events:
12.30 GMT: USD – Core Durable Goods Orders – measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items
12.30 GMTT: USD – GDP – measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy.
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