U.S markets reached record levels again as traders reacted to strong earnings releases. MarketWatch quoted James Abate, chief investment officer at Centre Funds. He stated that “So far in the earnings season, 35 of 37 companies on the S&P 500 either beat or met expectations…Companies have become very adept at boosting their earnings per share by cutting cost, managing taxes and share buybacks.” Markets are also gaining from liquidity from the ECB and Bank of Japan. Weaker than expected data was shrugged off; Industrial production dropped 0.6% in March and added to a batch of data suggesting that the economy is slowing down. At session close, the S&P 500 was 0.5% higher at 2,106.62 and the Dow Jones was 0.4% higher at 18,112.41. Intel Corp, which trades on the Dow Jones, added 4.3% after showing strong earnings.
Asian markets climbed today. The Nikkei added 0.08% as the Dollar inched higher against the Yen; the dollar traded at 119.3 at session close compared to 119.1 at the open. Fukuoka Financial Group added 7.83%, Chiba Bank added 7.44% and Shizuoka Bank added 6.3%. The Hang Seng added 0.45% following a report that regulators want to change the rules for the stock connect for small investors so they can enter the market. China Life Insurance added 4.09%, PetroChina added 3.96% and Galaxy Entertainment Group added 3.83%.
European markets are lower today as fears over Greece increase. Debt talks have been unsuccessful and the possibility that the country could default is growing. Barclays economists noted that “Overall the probability of a Greek exit [from the euro] remains higher now than it ever was.” Standard and Poor’s slashed their rating on Greek debt to CCC+ and commented that the outlook for economic growth is uncertain. Currently, the FTSE 100 is 0.45% lower, the DAX is 1.62% lower and the CAC 40 is 0.56% lower. In the FTSE, Unilever is 2.93% higher, Randgold Resources is 2.01% higher and GKN is 1.95% higher.
April 16, 2015 – Indices News
U.S markets reached record levels again as traders reacted to strong earnings releases. MarketWatch quoted James Abate, chief investment officer at Centre Funds. He stated that “So far in the earnings season, 35 of 37 companies on the S&P 500 either beat or met expectations…Companies have become very adept at boosting their earnings per share by cutting cost, managing taxes and share buybacks.” Markets are also gaining from liquidity from the ECB and Bank of Japan. Weaker than expected data was shrugged off; Industrial production dropped 0.6% in March and added to a batch of data suggesting that the economy is slowing down. At session close, the S&P 500 was 0.5% higher at 2,106.62 and the Dow Jones was 0.4% higher at 18,112.41. Intel Corp, which trades on the Dow Jones, added 4.3% after showing strong earnings.
Asian markets climbed today. The Nikkei added 0.08% as the Dollar inched higher against the Yen; the dollar traded at 119.3 at session close compared to 119.1 at the open. Fukuoka Financial Group added 7.83%, Chiba Bank added 7.44% and Shizuoka Bank added 6.3%. The Hang Seng added 0.45% following a report that regulators want to change the rules for the stock connect for small investors so they can enter the market. China Life Insurance added 4.09%, PetroChina added 3.96% and Galaxy Entertainment Group added 3.83%.
European markets are lower today as fears over Greece increase. Debt talks have been unsuccessful and the possibility that the country could default is growing. Barclays economists noted that “Overall the probability of a Greek exit [from the euro] remains higher now than it ever was.” Standard and Poor’s slashed their rating on Greek debt to CCC+ and commented that the outlook for economic growth is uncertain. Currently, the FTSE 100 is 0.45% lower, the DAX is 1.62% lower and the CAC 40 is 0.56% lower. In the FTSE, Unilever is 2.93% higher, Randgold Resources is 2.01% higher and GKN is 1.95% higher.
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