Asian markets climbed early this morning in anticipation of Janet Yellen’s speech and some better than expected housing data from Australia. Sentiment in the market was that due to worsening US data, the Fed would hold off on further tapering of the stimulus – making the outlook for global equities more optimistic. The Nikkei was closed for a holiday today, while the Hang Seng closed up 1.78% and the ASX 200 closed up 0.62%.
European Markets are up after Janet Yellen stated in the beginning of her testimony that more work was needed to help the US labor market. Investors are taking this as a sign that the Fed will hold off on further tapering and consequently equity markets are rising. In Europe, the expansion is led by carmakers and financials. The Stoxx 50 is up 1.05%, the FTSE is up 0.92%, and the DAX is up 1.61%.
American markets are also rising substantially as investors breath a sigh of relief in response to Yellen’s testimony. Though the Fed desires to taper further, Yellen’s acknowledgement that the bond buying program will continue until there is significant improvement in jobs situation. So far, the Dow is 0.79%, the S&P is up 0.44%, and the Nasdaq is up 0.33%.
February 11, 2014 – Indices News
Asian markets climbed early this morning in anticipation of Janet Yellen’s speech and some better than expected housing data from Australia. Sentiment in the market was that due to worsening US data, the Fed would hold off on further tapering of the stimulus – making the outlook for global equities more optimistic. The Nikkei was closed for a holiday today, while the Hang Seng closed up 1.78% and the ASX 200 closed up 0.62%.
European Markets are up after Janet Yellen stated in the beginning of her testimony that more work was needed to help the US labor market. Investors are taking this as a sign that the Fed will hold off on further tapering and consequently equity markets are rising. In Europe, the expansion is led by carmakers and financials. The Stoxx 50 is up 1.05%, the FTSE is up 0.92%, and the DAX is up 1.61%.
American markets are also rising substantially as investors breath a sigh of relief in response to Yellen’s testimony. Though the Fed desires to taper further, Yellen’s acknowledgement that the bond buying program will continue until there is significant improvement in jobs situation. So far, the Dow is 0.79%, the S&P is up 0.44%, and the Nasdaq is up 0.33%.
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