U.S stocks finished higher, closing at record levels once again. The economic outlook remains positive and data has consistently improved. At session close the S&P 500 was 0.31% higher at 2,038.26 and the Dow Jones was 0.23% higher. Asian markets were higher across the region. The Nikkei added 2.05% as the Dollar soared against the Yen once again. The Hang Seng closed 0.27% higher as traders continued to welcome news that the trading link between Shanghai and Hong Kong will begin next week. European markets are higher today led by gains in Vodafone. Earnings are driving the market due to a lack of economic events. Currently, the CAC 40 is up 0.36% while Germany’s DAX is up 0.22% and London’s FTSE 100 is up 0.12%.
WTI Crude dropped again and it is expected the price will remain choppy until OPECs meeting on Nov 27. Iraq cut their oil prices to the U.S yesterday, copying a decision made by Saudi Arabia earlier in the month. The weekly inventory report from the API has been delayed until tomorrow due to the U.S bank holiday, Veterans Day. Traders are also awaiting the International Energy Agency’s world outlook report with hopes it will provide a long term view for the commodity. The report will be released tomorrow. Gold declined once again as the stock market closed at record highs. The Dollar continues to strengthen and as the metal trades inversely, prices are dropping. Bearish sentiment is also caused by strong speculation that interest rates will be increased sooner than expected in the U.S. With no key economic data releases, traders should focus on the stock market.
November 11, 2014 – Daily Market News
Today’s Hot Assets: Oil, Gold
U.S stocks finished higher, closing at record levels once again. The economic outlook remains positive and data has consistently improved. At session close the S&P 500 was 0.31% higher at 2,038.26 and the Dow Jones was 0.23% higher. Asian markets were higher across the region. The Nikkei added 2.05% as the Dollar soared against the Yen once again. The Hang Seng closed 0.27% higher as traders continued to welcome news that the trading link between Shanghai and Hong Kong will begin next week. European markets are higher today led by gains in Vodafone. Earnings are driving the market due to a lack of economic events. Currently, the CAC 40 is up 0.36% while Germany’s DAX is up 0.22% and London’s FTSE 100 is up 0.12%.
WTI Crude dropped again and it is expected the price will remain choppy until OPECs meeting on Nov 27. Iraq cut their oil prices to the U.S yesterday, copying a decision made by Saudi Arabia earlier in the month. The weekly inventory report from the API has been delayed until tomorrow due to the U.S bank holiday, Veterans Day. Traders are also awaiting the International Energy Agency’s world outlook report with hopes it will provide a long term view for the commodity. The report will be released tomorrow. Gold declined once again as the stock market closed at record highs. The Dollar continues to strengthen and as the metal trades inversely, prices are dropping. Bearish sentiment is also caused by strong speculation that interest rates will be increased sooner than expected in the U.S. With no key economic data releases, traders should focus on the stock market.
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