U.S. markets finished mixed as falling oil prices continued to affect energy shares. Sentiment was also lower after the European Commission cut their forecast for global growth to 0.8%, down from 1.2%. At session close the S&P 500 was 0.28% lower. The Dow Jones however was 0.1% higher following gains from Procter & Gamble and Wal-Mart. Asian markets finished mixed. The Nikkei continued to climb, adding another 0.44% as the Yen weakened further against the Dollar. The Hang Seng declined 0.63% as falling oil prices hit shares. European markets are higher today, rebounding from yesterday’s losses. Gains follow positive earnings releases from companies such a Marks and Spencers. Currently the CAC 40 is up 1.34% while Germany’s DAX is up 1.26% and London’s FTSE 100 is up 0.93%.
WTI Crude fell to its lowest price since October 2011. The drop came after Saudi Arabia cut its prices for exports to the U.S by $0.45/barrel. The decision came after exports from the country dropped to a 4 year low. The market seems to be over supplied and demand is on the downside and the stronger Dollar is also impacting prices. Today traders should watch a report from the EIA 3.30pm GMT. Gold has tumbled to a 4 year low. The Dollar is climbing even higher ahead of midterm elections. Speculation is also high that the Federal Reserve could raise interest rates sooner than expected. Traders should watch data from the U.S today as it could provide insight before NFP on Friday.
Today’s Main Events:
09.30 GMT: GBP – Services PMI – measures the activity level of purchasing managers in the services sector.
13.15 GMT: USD –ADP Nonfarm Employment Change – measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients
14. 15 GMT: USD – FOMC Member Kocherlakota Speaks – Due to deliver a speech titled “Clarifying the Objectives of Monetary Policy,” in Virginia
15.00 GMT: USD – ISM Non- Manufacturing PMI – a composite index is calculated as an indicator of the overall economic condition for the non-manufacturing sector.
November 5, 2014 – Daily Market News
Today’s Hot Assets: USD, Gold
U.S. markets finished mixed as falling oil prices continued to affect energy shares. Sentiment was also lower after the European Commission cut their forecast for global growth to 0.8%, down from 1.2%. At session close the S&P 500 was 0.28% lower. The Dow Jones however was 0.1% higher following gains from Procter & Gamble and Wal-Mart. Asian markets finished mixed. The Nikkei continued to climb, adding another 0.44% as the Yen weakened further against the Dollar. The Hang Seng declined 0.63% as falling oil prices hit shares. European markets are higher today, rebounding from yesterday’s losses. Gains follow positive earnings releases from companies such a Marks and Spencers. Currently the CAC 40 is up 1.34% while Germany’s DAX is up 1.26% and London’s FTSE 100 is up 0.93%.
WTI Crude fell to its lowest price since October 2011. The drop came after Saudi Arabia cut its prices for exports to the U.S by $0.45/barrel. The decision came after exports from the country dropped to a 4 year low. The market seems to be over supplied and demand is on the downside and the stronger Dollar is also impacting prices. Today traders should watch a report from the EIA 3.30pm GMT. Gold has tumbled to a 4 year low. The Dollar is climbing even higher ahead of midterm elections. Speculation is also high that the Federal Reserve could raise interest rates sooner than expected. Traders should watch data from the U.S today as it could provide insight before NFP on Friday.
Today’s Main Events:
09.30 GMT: GBP – Services PMI – measures the activity level of purchasing managers in the services sector.
13.15 GMT: USD –ADP Nonfarm Employment Change – measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients
14. 15 GMT: USD – FOMC Member Kocherlakota Speaks – Due to deliver a speech titled “Clarifying the Objectives of Monetary Policy,” in Virginia
15.00 GMT: USD – ISM Non- Manufacturing PMI – a composite index is calculated as an indicator of the overall economic condition for the non-manufacturing sector.
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