U.S. stocks dropped following mixed data and earnings reports. Two main movers were Boeing which dropped 4.5% and AT&T which dropped 2%. Sentiment was also affected by a shooting at Canada’s parliament and falling oil prices. At session close the S&P 500 was 0.73% lower and the Dow Jones was 0.92% lower. Asian markets also declined across the region. The Hang Seng dropped 0.27% as fears surfaced over IPO’s taking funds away from existing shares. The Nikkei dropped 0.37% as exporter shares declined. European markets are mixed today after mixed data. Positive data was released from Europe including positive Manufacturing PMI data from Germany which was 51.8. This sent indexes higher and currently the CAC 40 is 0.23% higher and the DAX is 0.06% higher. However, data from the UK was disappointing. The FTSE 100 as a result is 0.42% lower and is being pressured lower by Tesco (down 5.6%) and Unilever (down 2.1%).
WTI Crude dropped sharply yesterday and reached its lowest price since 2012. The decline came after the EIA reported that inventories climbed by 7.1 million barrels during the past week. Recent news of a slowdown in global demand coupled with falling demand are supporting the downwards movement. The price has now rebounded slightly as strong data from China and Europe boosted sentiment slightly. Gold is falling as the Dollar strengthens. Positive economic data has also reduced fears of a slowdown resulting in less demand for safe haven assets. Today, traders should pay attention to the U.S. Flash Manufacturing PMI which will be released at 1.45PM (GMT).
Today’s Main Events:
07.30 GMT: EUR – German Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector.
08.00 GMT: EUR – Services PMI – measures the activity level of purchasing managers in the services sector.
08.30 GMT: USD – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level
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.
13.45 GMT: USD – Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector
October 23, 2014 – Daily Market News
U.S. stocks dropped following mixed data and earnings reports. Two main movers were Boeing which dropped 4.5% and AT&T which dropped 2%. Sentiment was also affected by a shooting at Canada’s parliament and falling oil prices. At session close the S&P 500 was 0.73% lower and the Dow Jones was 0.92% lower. Asian markets also declined across the region. The Hang Seng dropped 0.27% as fears surfaced over IPO’s taking funds away from existing shares. The Nikkei dropped 0.37% as exporter shares declined. European markets are mixed today after mixed data. Positive data was released from Europe including positive Manufacturing PMI data from Germany which was 51.8. This sent indexes higher and currently the CAC 40 is 0.23% higher and the DAX is 0.06% higher. However, data from the UK was disappointing. The FTSE 100 as a result is 0.42% lower and is being pressured lower by Tesco (down 5.6%) and Unilever (down 2.1%).
WTI Crude dropped sharply yesterday and reached its lowest price since 2012. The decline came after the EIA reported that inventories climbed by 7.1 million barrels during the past week. Recent news of a slowdown in global demand coupled with falling demand are supporting the downwards movement. The price has now rebounded slightly as strong data from China and Europe boosted sentiment slightly. Gold is falling as the Dollar strengthens. Positive economic data has also reduced fears of a slowdown resulting in less demand for safe haven assets. Today, traders should pay attention to the U.S. Flash Manufacturing PMI which will be released at 1.45PM (GMT).
Today’s Main Events:
07.30 GMT: EUR – German Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector.
08.00 GMT: EUR – Services PMI – measures the activity level of purchasing managers in the services sector.
08.30 GMT: USD – Retail Sales – measure the change in the total value of inflation-adjusted sales at the retail level
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.
13.45 GMT: USD – Manufacturing PMI – measures the activity level of purchasing managers in the manufacturing sector
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