Asian markets were mostly bearish today after US GDP data came out worse than expected. Asian firms are still heavily reliant on US consumers, so investors start to panic when they see bad news from America. Furthermore, worse than expected Manufacturing data from China also help Asian indices back. However, there is still some remaining optimism: after the Fed announced the continuation of its plan to taper the stimulus, officials noted that increased consumption may help the American economy gain momentum – statements which helped Japanese markets climb. The Nikkei closed up 1.27%, the Hang Seng closed down 1.42%, and the ASX 200 closed down 0.73%.
Most European markets were closed today for labor day. British markets, however, were still active and climbing thanks to better than expected UK Manufacturing data. Furthermore, important companies like Sky Broadcasting and Lloyd’s banking group also posted better than expected results – adding to already existing bullish sentiment. Right now, the FTSE is up 0.27%.
American markets are slightly down despite better than expected ISM Manufacturing PMI data. Many analysts feel that investors may be getting cold feet before tomorrow’s NFP data. Furthermore, there are lingering worries that the Fed may raise the interest rates in the far future, which could make equities less appealing. However, should the Fed keep rates low and NFP turn out better than expected, indices will continue to climb. The Dow is down 0.25%, the S&P is down 0.06%, and the Nasdaq is up 0.08%.
May 1, 2014 – Indices News
Asian markets were mostly bearish today after US GDP data came out worse than expected. Asian firms are still heavily reliant on US consumers, so investors start to panic when they see bad news from America. Furthermore, worse than expected Manufacturing data from China also help Asian indices back. However, there is still some remaining optimism: after the Fed announced the continuation of its plan to taper the stimulus, officials noted that increased consumption may help the American economy gain momentum – statements which helped Japanese markets climb. The Nikkei closed up 1.27%, the Hang Seng closed down 1.42%, and the ASX 200 closed down 0.73%.
Most European markets were closed today for labor day. British markets, however, were still active and climbing thanks to better than expected UK Manufacturing data. Furthermore, important companies like Sky Broadcasting and Lloyd’s banking group also posted better than expected results – adding to already existing bullish sentiment. Right now, the FTSE is up 0.27%.
American markets are slightly down despite better than expected ISM Manufacturing PMI data. Many analysts feel that investors may be getting cold feet before tomorrow’s NFP data. Furthermore, there are lingering worries that the Fed may raise the interest rates in the far future, which could make equities less appealing. However, should the Fed keep rates low and NFP turn out better than expected, indices will continue to climb. The Dow is down 0.25%, the S&P is down 0.06%, and the Nasdaq is up 0.08%.
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