Asian markets were mixed during the Asian session. The poor US economic data has taken a toll on the USD, causing the JPY to rally against the world’s reserve currency. As a result Japanese stocks declined; causing the Nikkei to fall from a four- week high. In the later part of the session traders were optimistic after the rise of Chinese energy stocks. This has restored their faith that Chinese growth is doing better after the poor property figures frightened traders earlier this week. As a result, people turned to stocks. All in all, the Hang Seng gained 0.54%, the ASX 200 is up 0.06% and the Nikkei fell 0.54%.
The European session has taken another hit today as traders received negative data over the course of the week. In early trade, traders were tracking the poor GDP report being released in the UK at 9.30 GMT. After the negative figures, stocks dropped – causing the London FTSE to be pulled down. In addition, traders are still worried about the slowdown of emerging markets caused by the poor growth in China. As a result, stocks have been in negative figures for the day. At the close of the session the FTSE finished 0.46% lower, the DAX closed 0.39% down and the CAC dropped 0.40%.
During the US session, markets rallied in the early hours of trading as traders were tracking the Home Sales report that was released at 15.00 GMT. Traders immediately turned to stocks as they were surprised on how well the figures of this report was. The most significant mover of the week is the S&P. Over 70% of the companies listed in the S&P have posted better earnings than projected this year. As a result, the index has been fluctuating near its record high. Currently the S&P is 0.01% higher, the NASDAQ has gained 0.10% and the DOW is up 0.12%.
February 26, 2014 – Indices News
Asian markets were mixed during the Asian session. The poor US economic data has taken a toll on the USD, causing the JPY to rally against the world’s reserve currency. As a result Japanese stocks declined; causing the Nikkei to fall from a four- week high. In the later part of the session traders were optimistic after the rise of Chinese energy stocks. This has restored their faith that Chinese growth is doing better after the poor property figures frightened traders earlier this week. As a result, people turned to stocks. All in all, the Hang Seng gained 0.54%, the ASX 200 is up 0.06% and the Nikkei fell 0.54%.
The European session has taken another hit today as traders received negative data over the course of the week. In early trade, traders were tracking the poor GDP report being released in the UK at 9.30 GMT. After the negative figures, stocks dropped – causing the London FTSE to be pulled down. In addition, traders are still worried about the slowdown of emerging markets caused by the poor growth in China. As a result, stocks have been in negative figures for the day. At the close of the session the FTSE finished 0.46% lower, the DAX closed 0.39% down and the CAC dropped 0.40%.
During the US session, markets rallied in the early hours of trading as traders were tracking the Home Sales report that was released at 15.00 GMT. Traders immediately turned to stocks as they were surprised on how well the figures of this report was. The most significant mover of the week is the S&P. Over 70% of the companies listed in the S&P have posted better earnings than projected this year. As a result, the index has been fluctuating near its record high. Currently the S&P is 0.01% higher, the NASDAQ has gained 0.10% and the DOW is up 0.12%.
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