U.S stocks were mixed yesterday but with little change. Sentiment was hit by falling oil prices. Prices dropped after Goldman Sachs, an investment bank, cut its forecast for oil for 2015. Their analysts now predict the price to be $75/ barrel, which is $$15 below their original estimation. Trade was also subdued as investors are awaiting the result of the two day FOMC meeting beginning today. It is widely expected that the Federal Reserve will finish their bond buying program this month. However, investors are mostly waiting to hear any clues regarding increasing interest rates sooner than currently expected. At market close the S&P 500 was 0.15% lower and the Dow Jones was 0.07% higher.
Asian stocks were also mixed today. The Nikkei lost 0.38% as the Dollar traded lower against the Yen. The Dollar dropped from ¥108.16 to ¥107.77 as Japanese Retail Sales came out better than expected and increased 2.3% instead of the expected 0.6%. Traders were also apprehensive before Central bank meetings from both currencies. The Bank of Japan will be meeting on Friday. The Hang Seng, however, climbed 1.63% after the President, Xi Jinping, signaled expansion of free – trade zones.
European markets are higher today following earnings reports. Gains are also seen after Peter Praet, a member of the European Central Bank, stated that the risk of deflation is much lower than previously estimated by the IMF. Currently, the DAX is up 1.41% while France’s CAC 40 is up 0.54% and London’s FTSE 100 is up 0.37%.
October 28, 2014- Indices News
U.S stocks were mixed yesterday but with little change. Sentiment was hit by falling oil prices. Prices dropped after Goldman Sachs, an investment bank, cut its forecast for oil for 2015. Their analysts now predict the price to be $75/ barrel, which is $$15 below their original estimation. Trade was also subdued as investors are awaiting the result of the two day FOMC meeting beginning today. It is widely expected that the Federal Reserve will finish their bond buying program this month. However, investors are mostly waiting to hear any clues regarding increasing interest rates sooner than currently expected. At market close the S&P 500 was 0.15% lower and the Dow Jones was 0.07% higher.
Asian stocks were also mixed today. The Nikkei lost 0.38% as the Dollar traded lower against the Yen. The Dollar dropped from ¥108.16 to ¥107.77 as Japanese Retail Sales came out better than expected and increased 2.3% instead of the expected 0.6%. Traders were also apprehensive before Central bank meetings from both currencies. The Bank of Japan will be meeting on Friday. The Hang Seng, however, climbed 1.63% after the President, Xi Jinping, signaled expansion of free – trade zones.
European markets are higher today following earnings reports. Gains are also seen after Peter Praet, a member of the European Central Bank, stated that the risk of deflation is much lower than previously estimated by the IMF. Currently, the DAX is up 1.41% while France’s CAC 40 is up 0.54% and London’s FTSE 100 is up 0.37%.
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