Asian markets fell initially at the beginning of the session due to turmoil in Thailand. The Thai army has declared marshal law and investors are panicking over the possibility of a coup d’etat. This pushed the yen higher as individuals and institutions sought a safe place to park their assets – an event that often hurts the export income of Japanese companies. Furthermore, initial poor performance in by Indian equities also fueled bearish sentiment. Later in the session, however, Asian indices managed to retrace a lot of these losses, with the Nikkei closing up 0.49%, the Hang Seng closing up 0.57%, and the ASX 200 closing up 0.21%.
European markets took a hit today as investors evaluated corproate earnings reports. Large firms like Vodafone, Marks & Spencer, and Annington Immobilien SE fell – hurting confidence in European markets ahead of the Federal Reserve’s Meeting minutes tomorrow. Other than corporate data, analysts are currently looking toward large monetary policy decision by the Fed and the ECB as a source of movement. Today, the Stoxx 50 closed down 0.19%, and the FTSE closed down 0.62%, and the DAX closed down 0.21%.
American markets are also performing poorly as large retailers post worse than expected earnings. Companies ranging from Staples to Urban Outfitters have tumbled after released bad data. Even manufacturers like Catepillar have also taken a dive. Investors are very bearish and very anxious in anticipation of the FOMC Meeting Minutes slated to come out tomorrow. Many are expecting further tapering, but many are wondering if the Fed has any plans to prop up the labor market in according with Yellen’s recommendations during her last testimony. For now, the Dow is down 0.83%, the S&P is down 0.65%, the Nasdaq is down 0.70%.
May 20, 2014 – Indices News
Asian markets fell initially at the beginning of the session due to turmoil in Thailand. The Thai army has declared marshal law and investors are panicking over the possibility of a coup d’etat. This pushed the yen higher as individuals and institutions sought a safe place to park their assets – an event that often hurts the export income of Japanese companies. Furthermore, initial poor performance in by Indian equities also fueled bearish sentiment. Later in the session, however, Asian indices managed to retrace a lot of these losses, with the Nikkei closing up 0.49%, the Hang Seng closing up 0.57%, and the ASX 200 closing up 0.21%.
European markets took a hit today as investors evaluated corproate earnings reports. Large firms like Vodafone, Marks & Spencer, and Annington Immobilien SE fell – hurting confidence in European markets ahead of the Federal Reserve’s Meeting minutes tomorrow. Other than corporate data, analysts are currently looking toward large monetary policy decision by the Fed and the ECB as a source of movement. Today, the Stoxx 50 closed down 0.19%, and the FTSE closed down 0.62%, and the DAX closed down 0.21%.
American markets are also performing poorly as large retailers post worse than expected earnings. Companies ranging from Staples to Urban Outfitters have tumbled after released bad data. Even manufacturers like Catepillar have also taken a dive. Investors are very bearish and very anxious in anticipation of the FOMC Meeting Minutes slated to come out tomorrow. Many are expecting further tapering, but many are wondering if the Fed has any plans to prop up the labor market in according with Yellen’s recommendations during her last testimony. For now, the Dow is down 0.83%, the S&P is down 0.65%, the Nasdaq is down 0.70%.
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