U.S stocks finished with little change for a second time. Sentiment was affected by falling oil prices but corporate news and earnings managed to push shares slightly higher. At session close the S&P 500 was 0.05% higher at 2,039.33 and the Dow jones was 0.23% higher at 17,652.79. Asian markets climbed across the region. The Nikkei added 0.56% as the Dollar continued to climb against the Yen, trading around 116.4. The Hang added 0.28% as traders look forward to the start of the trading link between Hong Kong and Shanghai on Monday. European markets are mixed today after a range of data. Markets reacted to falling energy shares which are being affected by declining oil prices. Currently, the CAC 40 is up 0.20% while the DAX gains 0.02%. The FTSE 100 is off 0.17%.
WTI Crude continued to fall. The price has been dropping as investors believe that OPEC will not cut output despite rising supplies and weaker demand. However, as the price is trading at a 4 year low and could drop lower, speculation began that OPEC may have to cut production and this caused a slight rebound. This is expected to happen if the price reaches $70/barrel. Gold is dropping as the Dollar continues to gain. The metal lost 2.1% this week alone and is expected to fall further. Traders should focus on Retail Sales data which will be released later in the day.
Today’s Main Events:
07.00 GMT: EUR – German GDP – he broadest measure of economic activity and is a key indicator of economic health
10.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer
13.30 GMT: USD – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level
14.55 GMT: USD – Michigan Consumer Sentiment – rates the relative level of current and future economic conditions
November 14, 2014 – Daily Market News
U.S stocks finished with little change for a second time. Sentiment was affected by falling oil prices but corporate news and earnings managed to push shares slightly higher. At session close the S&P 500 was 0.05% higher at 2,039.33 and the Dow jones was 0.23% higher at 17,652.79. Asian markets climbed across the region. The Nikkei added 0.56% as the Dollar continued to climb against the Yen, trading around 116.4. The Hang added 0.28% as traders look forward to the start of the trading link between Hong Kong and Shanghai on Monday. European markets are mixed today after a range of data. Markets reacted to falling energy shares which are being affected by declining oil prices. Currently, the CAC 40 is up 0.20% while the DAX gains 0.02%. The FTSE 100 is off 0.17%.
WTI Crude continued to fall. The price has been dropping as investors believe that OPEC will not cut output despite rising supplies and weaker demand. However, as the price is trading at a 4 year low and could drop lower, speculation began that OPEC may have to cut production and this caused a slight rebound. This is expected to happen if the price reaches $70/barrel. Gold is dropping as the Dollar continues to gain. The metal lost 2.1% this week alone and is expected to fall further. Traders should focus on Retail Sales data which will be released later in the day.
Today’s Main Events:
07.00 GMT: EUR – German GDP – he broadest measure of economic activity and is a key indicator of economic health
10.00 GMT: EUR – CPI – measures the change in the price of goods and services from the perspective of the consumer
13.30 GMT: USD – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level
14.55 GMT: USD – Michigan Consumer Sentiment – rates the relative level of current and future economic conditions
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