Dow Bounces Back After Shaky Start to the Year, Euro Hits Fresh Nine-Year Low
January 9, 2015 7:00 am
Asian stocks rose on Friday on upbeat expectations for closely-watched U.S. jobs data, while the Euro continued to flirt with fresh nine-year lows against the Dollar. U.S. stocks rallied for a second day on Thursday, boosted by expectations that the U.S. economy will continue to improve as well as by hopes for more aggressive action from the European Central Bank. The Dow closed up 323 at 17,907, the S&P 500 rose 36 points to close at 2,062.
The Euro traded at $1.1806, wallowing close to a fresh nine-year low of $1.1754 hit overnight on the back of enhanced expectations that the ECB would embark on fresh easing as early as this month. The Dollar traded at 119.230 yen, having come back from a three-week low of 118.05 struck on Tuesday when risk aversion favoured the safe-haven Japanese currency.
U.S. crude oil gained 37 cents to $49.16 a barrel after plumbing a 5-1/2-year low of $46.83 on Wednesday.
Within the equity space, British designer clothing brand Ted Baker posted a 22.8% increase in retail sales for 8 weeks from Nov. 9 to Jan. 3, while its gross margins were in line with expectations. It also said sales since Christmas had been particularly strong and it expected to end the year with a clean stock position. The stock was trading negative by 1% in early trade at 2347p per share.
Today at 1.30pm sees the belated release of the December Non Farm payrolls with the expected figure at 240K vs. a very impressive 321k previous.
Asian stocks rose on Friday on upbeat expectations for closely-watched U.S. jobs data, while the Euro continued to flirt with fresh nine-year lows against the Dollar. U.S. stocks rallied for a second day on Thursday, boosted by expectations that the U.S. economy will continue to improve as well as by hopes for more aggressive action from the European Central Bank. The Dow closed up 323 at 17,907, the S&P 500 rose 36 points to close at 2,062.
The Euro traded at $1.1806, wallowing close to a fresh nine-year low of $1.1754 hit overnight on the back of enhanced expectations that the ECB would embark on fresh easing as early as this month. The Dollar traded at 119.230 yen, having come back from a three-week low of 118.05 struck on Tuesday when risk aversion favoured the safe-haven Japanese currency.
U.S. crude oil gained 37 cents to $49.16 a barrel after plumbing a 5-1/2-year low of $46.83 on Wednesday.
Within the equity space, British designer clothing brand Ted Baker posted a 22.8% increase in retail sales for 8 weeks from Nov. 9 to Jan. 3, while its gross margins were in line with expectations. It also said sales since Christmas had been particularly strong and it expected to end the year with a clean stock position. The stock was trading negative by 1% in early trade at 2347p per share.
Today at 1.30pm sees the belated release of the December Non Farm payrolls with the expected figure at 240K vs. a very impressive 321k previous.
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