Indices Bullish On Last Week’s Data; Chinese Exports
June 9, 2014 8:40 pm
June 9, 2014 – Indices News
Asian markets rose today for two main reasons: For starters, US Nonfarm Payrolls data from Friday eased investors anxiety about the strength of the US recovery and gave the federal reserve the ammunition it needed to continue with tapering the stimulus and possibly to raise the interest rate early next year. Since the US is a large consumer of Asian goods, bullish sentiment across the pacific bodes well for the far east. Second of all, Chinese trade balance data was also very strong – showing that exports increased substantially. Thus, investors had a lot of better than expected information at their fingertips today, and it is not surprising that Asian Indices climbed on investor optimism. The Nikkei rose 0.31%, the Hang Seng climbed 0.73%, and the ASX 200 closed higher 0.50%.
European markets have also experienced extraordinary bullishness today as investors felt more confident about the eurozone’s ability to whether economic crisis after the European Central Bank lowered the interest rate to fight deflation. The upward pressure on equities was so strong that the DAX closed above 10,000 for the first time in history. Further adding to the optimistic trading environment was better than expected Chinese exports data and Japanese GDP data from earlier in the morning. All in all, the Stoxx 50 closed up 0.33%, the FTSE closed up -/24%, and the DAX closed up 0.21%.
American markets also are performing strongly as investors process Friday’s NFP data. However, the main source of growth for US equities today was mergers and acquisitions activity – with Family Dollar riding high after it was revealed that activist investor Carl Icahn owned a significant stake and Idenix Pharmaceuticals rising after Merck & Co. agreed to buy the company. So far, the S&P is nearing record levels and bullish sentiment seems poised to remain in the market for some time. Right now, the Dow is up 0.11%, the S&P is up 0.09%, and the Nasdaq is up 0.34%.
June 9, 2014 – Indices News
Asian markets rose today for two main reasons: For starters, US Nonfarm Payrolls data from Friday eased investors anxiety about the strength of the US recovery and gave the federal reserve the ammunition it needed to continue with tapering the stimulus and possibly to raise the interest rate early next year. Since the US is a large consumer of Asian goods, bullish sentiment across the pacific bodes well for the far east. Second of all, Chinese trade balance data was also very strong – showing that exports increased substantially. Thus, investors had a lot of better than expected information at their fingertips today, and it is not surprising that Asian Indices climbed on investor optimism. The Nikkei rose 0.31%, the Hang Seng climbed 0.73%, and the ASX 200 closed higher 0.50%.
European markets have also experienced extraordinary bullishness today as investors felt more confident about the eurozone’s ability to whether economic crisis after the European Central Bank lowered the interest rate to fight deflation. The upward pressure on equities was so strong that the DAX closed above 10,000 for the first time in history. Further adding to the optimistic trading environment was better than expected Chinese exports data and Japanese GDP data from earlier in the morning. All in all, the Stoxx 50 closed up 0.33%, the FTSE closed up -/24%, and the DAX closed up 0.21%.
American markets also are performing strongly as investors process Friday’s NFP data. However, the main source of growth for US equities today was mergers and acquisitions activity – with Family Dollar riding high after it was revealed that activist investor Carl Icahn owned a significant stake and Idenix Pharmaceuticals rising after Merck & Co. agreed to buy the company. So far, the S&P is nearing record levels and bullish sentiment seems poised to remain in the market for some time. Right now, the Dow is up 0.11%, the S&P is up 0.09%, and the Nasdaq is up 0.34%.
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