U.S. stocks fell at the open following weak U.S. data. Core Durable Goods Orders declined 1% during the past month and GDP declined 2.9% during the past quarter. However, investors later shrugged off the data and the S&P 500 closed 0.49% and the Dow Jones closed 0.29% higher. Asian stocks climbed as they followed the direction of U.S. markets. The Nikkei gained 0.27% and the Hang Seng gained 1.45%. European stocks are mixed amid mergers and acquisitions news. Currently, the CAC 40 is up 0.05% while the DAX is up 0.02%. The FTSE 100 is off 0.02%.
WTI Crude dropped after both the API and EIA reported an increase in inventories. Iraq also stated that exports of oil will increase pushing the price further down. Gold climbed immediately following the bad U.S. data. However, investors then locked in profit and physical demand dampened. Investors should watch U.S. data later in the day including Personal Spending and Initial Jobless Claims at 12.30pm GMT.
Today’s Main Events:
09.30 GMT: GBP – BoE Gov Carney Speaks – Due to hold a press conference about the Financial Stability Report, in London
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
12.30 GMT: USD – Personal Spending – measures the change in the inflation-adjusted value of all spending by consumers. Consumer spending accounts for a majority of overall economic activity
23.30 GMT: JPY – Tokyo Core CPI – measures the change in the price of goods and services purchased by consumers in Tokyo, excluding fresh food
June 26, 2014 – Daily Market News
Today’s Hot Asset: USD
U.S. stocks fell at the open following weak U.S. data. Core Durable Goods Orders declined 1% during the past month and GDP declined 2.9% during the past quarter. However, investors later shrugged off the data and the S&P 500 closed 0.49% and the Dow Jones closed 0.29% higher. Asian stocks climbed as they followed the direction of U.S. markets. The Nikkei gained 0.27% and the Hang Seng gained 1.45%. European stocks are mixed amid mergers and acquisitions news. Currently, the CAC 40 is up 0.05% while the DAX is up 0.02%. The FTSE 100 is off 0.02%.
WTI Crude dropped after both the API and EIA reported an increase in inventories. Iraq also stated that exports of oil will increase pushing the price further down. Gold climbed immediately following the bad U.S. data. However, investors then locked in profit and physical demand dampened. Investors should watch U.S. data later in the day including Personal Spending and Initial Jobless Claims at 12.30pm GMT.
Today’s Main Events:
09.30 GMT: GBP – BoE Gov Carney Speaks – Due to hold a press conference about the Financial Stability Report, in London
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
12.30 GMT: USD – Personal Spending – measures the change in the inflation-adjusted value of all spending by consumers. Consumer spending accounts for a majority of overall economic activity
23.30 GMT: JPY – Tokyo Core CPI – measures the change in the price of goods and services purchased by consumers in Tokyo, excluding fresh food
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