U.S. stocks finished with little change following comments by Fed members that there is no rush to increase interest rates due to worries that it could hamper global growth. Further to this, James Bullard, President of the Federal Reserve Bank of St. Louis, stated that quantitative easing could actually be extended. At session close the S&P 500 was 0.01% higher at 1,862.76 and the Dow Jones was 0.15% lower at 16,117.24. Asian markets were mixed today. The Nikkei lost 1.4% after reaching an almost 5 month low a day earlier. The Hang Seng, however, added 0.53% following gains in casino shares. European markets are higher today as consistently bad data leads to speculation that the ECB may act and inject more stimulus into the economy. Currently, the CAC 40 is up 1.47% while Germany’s DAX is up 1.46% and London’s FTSE 100 is up 0.80%.
WTI Crude is climbing despite a report from the EIA that showed inventories to climb by 8.932 million barrels. Investors are awaiting a report from OPEC next month for clues on exports and output. As supply increases and demand falls we could see bearish sentiment reappear in the market. Gold rose as weak data was released from the U.S. Bearish sentiment also continued for the stock market, pushing investors into Gold as an alternative investment. Keep an eye on U.S. data today, in particular Yellen’s speech at 12.30pm GMT, as anything positive could push Gold back down.
Today’s Main Events:
12.30 GMT: USD – Building Permits – measures the change in the number of new building permits issued by the government.
12.30 GMT: USD – Fed Chair Yellen Speaks – Due to speak at the Federal Reserve Bank of Boston’s Conference on Inequality of Business Opportunity, in Boston
12.30 GMT: USD – Housing Starts – measures the change in the annualized number of new residential buildings that began construction during the reported month.
13.55 GMT: USD – Michigan Consumer Sentiment – rates the relative level of current and future economic conditions
October 17, 2014 – Daily Market News
U.S. stocks finished with little change following comments by Fed members that there is no rush to increase interest rates due to worries that it could hamper global growth. Further to this, James Bullard, President of the Federal Reserve Bank of St. Louis, stated that quantitative easing could actually be extended. At session close the S&P 500 was 0.01% higher at 1,862.76 and the Dow Jones was 0.15% lower at 16,117.24. Asian markets were mixed today. The Nikkei lost 1.4% after reaching an almost 5 month low a day earlier. The Hang Seng, however, added 0.53% following gains in casino shares. European markets are higher today as consistently bad data leads to speculation that the ECB may act and inject more stimulus into the economy. Currently, the CAC 40 is up 1.47% while Germany’s DAX is up 1.46% and London’s FTSE 100 is up 0.80%.
WTI Crude is climbing despite a report from the EIA that showed inventories to climb by 8.932 million barrels. Investors are awaiting a report from OPEC next month for clues on exports and output. As supply increases and demand falls we could see bearish sentiment reappear in the market. Gold rose as weak data was released from the U.S. Bearish sentiment also continued for the stock market, pushing investors into Gold as an alternative investment. Keep an eye on U.S. data today, in particular Yellen’s speech at 12.30pm GMT, as anything positive could push Gold back down.
Today’s Main Events:
12.30 GMT: USD – Building Permits – measures the change in the number of new building permits issued by the government.
12.30 GMT: USD – Fed Chair Yellen Speaks – Due to speak at the Federal Reserve Bank of Boston’s Conference on Inequality of Business Opportunity, in Boston
12.30 GMT: USD – Housing Starts – measures the change in the annualized number of new residential buildings that began construction during the reported month.
13.55 GMT: USD – Michigan Consumer Sentiment – rates the relative level of current and future economic conditions
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