The Asian session took a hit today as traders were anticipating the Chinese HSBC Manufacturing PMI report. The report came out worse than expected causing concerns that the economy might not be improving the way traders were expecting. The JPY reinforced after these figures as their currency strengthens after negative growth outlook. Subsequently the Nikkei fell 2.15%, the Hang Seng dropped 1.19% and the ASX 200 gained 0.08%.
European stocks started of badly as traders were eager to anticipate today`s European Manufacturing and Services reports. After recent bad economic data traders were looking for a boost. When the Manufacturing reports came out worse than expected stocks started declining at the beginning of the session. Stocks then stared rebounding and traded mixed throughout the day. Eventually the FTSE closed at 0.24%higher, the DAX lost 0.43% and the CAC added 0.33%.
US stocks are gaining today as traders were watching the Flash Manufacturing PMI report come out. Traders turned to stocks when the report released a much better figure (56.7) than expected. This report was the fastest improvement in the US manufacturing business conditions since May 2010. Facebook was the most significant stock movement of the day. The entity agreed to buy WhatsApp Incorporation for 19 Billion Dollars. Facebook`s stock then dropped 2.2%. However traders saw this acquisition as a positive one, reinforcing their faith that US corporations are growing. As a result the S&P is currently up by 0.62%, The Dow has edged 0.74% higher and the NASDAQ has gained 0.45%.
February 20, 2014 – Indices News
The Asian session took a hit today as traders were anticipating the Chinese HSBC Manufacturing PMI report. The report came out worse than expected causing concerns that the economy might not be improving the way traders were expecting. The JPY reinforced after these figures as their currency strengthens after negative growth outlook. Subsequently the Nikkei fell 2.15%, the Hang Seng dropped 1.19% and the ASX 200 gained 0.08%.
European stocks started of badly as traders were eager to anticipate today`s European Manufacturing and Services reports. After recent bad economic data traders were looking for a boost. When the Manufacturing reports came out worse than expected stocks started declining at the beginning of the session. Stocks then stared rebounding and traded mixed throughout the day. Eventually the FTSE closed at 0.24%higher, the DAX lost 0.43% and the CAC added 0.33%.
US stocks are gaining today as traders were watching the Flash Manufacturing PMI report come out. Traders turned to stocks when the report released a much better figure (56.7) than expected. This report was the fastest improvement in the US manufacturing business conditions since May 2010. Facebook was the most significant stock movement of the day. The entity agreed to buy WhatsApp Incorporation for 19 Billion Dollars. Facebook`s stock then dropped 2.2%. However traders saw this acquisition as a positive one, reinforcing their faith that US corporations are growing. As a result the S&P is currently up by 0.62%, The Dow has edged 0.74% higher and the NASDAQ has gained 0.45%.