U.S. stocks declined for a third session after as geopolitical tension weighed on markets. Investors are turning away from riskier assets and beginning to invest in safe havens. At session close the S&P 500 had lost 0.58% and the Dow Jones had lost 0.68%. Asian markets were mixed across the region. The Nikkei lost 0.24% after the Japanese Manufacturing PMI came out below expectations at 51.7. The Yen was slightly stronger as a safe haven with the Dollar buying ¥108.65 compared to ¥109.08 a day earlier. The Hang Seng, however, added 0.37% (its biggest gain in 7 weeks) with China Mobile Ltd rising ahead of approval of the iPhone 6 in China. Sentiment is down in Europe today and markets are mixed. The German Ifo Business Climate Index came out below expectations at 104.7 and comes after negative economic data for Europe yesterday. Currently, the CAC 40 is higher by 0.29%, while the FTSE 100 is leading the DAX lower. They are down 0.22% and 0.14% respectively.
WTI Crude came under pressure following the weak European data. The API also released positive stockpile data showing that stockpiles increased by 3 million barrels during the past week. Another report from the EIA will be released later today at 2.30pm GMT. Gold is climbing as investors flock to safe haven assets after U.S. strikes in Syria. The stock market has also struggled and Gold acts as an alternative investment.
Today’s Main Events:
08.00 GMT: EUR – German Ifo Business Climate Index – Rates the current German business climate and measures expectations for the next six months.
14.00 GMT: USD – New Home Sales – Measures the annualized number of new single-family homes that were sold during the previous month
September 24, 2014
Today’s Hot Asset: USD
U.S. stocks declined for a third session after as geopolitical tension weighed on markets. Investors are turning away from riskier assets and beginning to invest in safe havens. At session close the S&P 500 had lost 0.58% and the Dow Jones had lost 0.68%. Asian markets were mixed across the region. The Nikkei lost 0.24% after the Japanese Manufacturing PMI came out below expectations at 51.7. The Yen was slightly stronger as a safe haven with the Dollar buying ¥108.65 compared to ¥109.08 a day earlier. The Hang Seng, however, added 0.37% (its biggest gain in 7 weeks) with China Mobile Ltd rising ahead of approval of the iPhone 6 in China. Sentiment is down in Europe today and markets are mixed. The German Ifo Business Climate Index came out below expectations at 104.7 and comes after negative economic data for Europe yesterday. Currently, the CAC 40 is higher by 0.29%, while the FTSE 100 is leading the DAX lower. They are down 0.22% and 0.14% respectively.
WTI Crude came under pressure following the weak European data. The API also released positive stockpile data showing that stockpiles increased by 3 million barrels during the past week. Another report from the EIA will be released later today at 2.30pm GMT. Gold is climbing as investors flock to safe haven assets after U.S. strikes in Syria. The stock market has also struggled and Gold acts as an alternative investment.
Today’s Main Events:
08.00 GMT: EUR – German Ifo Business Climate Index – Rates the current German business climate and measures expectations for the next six months.
14.00 GMT: USD – New Home Sales – Measures the annualized number of new single-family homes that were sold during the previous month
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