U.S. stocks climbed at the end of last week after better than expected earnings and data. Monthly new homes sales were expected to decline by 5.8% but instead increased by 0.2%. The annualized figure missed expectations slightly but still reached a 6 year high at 467,000. Positive earnings were also released throughout the week boosting sentiment. The S&P 500 closed 0.71% higher but posted its biggest weekly advance of the year. The index climbed 4.1% over the week. The Dow Jones climbed 0.76% higher and added 2.6% over the week.
Asian markets were mixed today. The Nikkei added 0.63% as positive earnings and data reinstated confidence in the economy lowered fears of a global slowdown. During the session the Dollar advanced to ¥108.15 and the weaker Yen boosted exporters. Sony added 0.9%, Nintendo added 1.5%, Honda added 0.8% and Nissan and Toyota both added 0.3%. The Hang Seng, however, lost 0.68% as the direct link for trading between Hong Kong and Shanghai was delayed further. The scheme was set to begin this week and many believe that protests are to blame. Financial stocks declined with HSBC losing 0.1% at the open.
European markets are lower today after another round of weak data from Germany. The Ifo Business Climate Index came out at 103.2 below the expected 104.3 dampening sentiment. Markets were initially reacting to results of stress tests performed on 130 European banks over the weekend. The outcome was not as bad as expected as only 25 banks failed. Currently, the DAX is down 0.96% while France’s CAC 40 is off 0.79% and London’s FTSE 100 is lower by 0.42%.
October 27, 2014 – Indices News
U.S. stocks climbed at the end of last week after better than expected earnings and data. Monthly new homes sales were expected to decline by 5.8% but instead increased by 0.2%. The annualized figure missed expectations slightly but still reached a 6 year high at 467,000. Positive earnings were also released throughout the week boosting sentiment. The S&P 500 closed 0.71% higher but posted its biggest weekly advance of the year. The index climbed 4.1% over the week. The Dow Jones climbed 0.76% higher and added 2.6% over the week.
Asian markets were mixed today. The Nikkei added 0.63% as positive earnings and data reinstated confidence in the economy lowered fears of a global slowdown. During the session the Dollar advanced to ¥108.15 and the weaker Yen boosted exporters. Sony added 0.9%, Nintendo added 1.5%, Honda added 0.8% and Nissan and Toyota both added 0.3%. The Hang Seng, however, lost 0.68% as the direct link for trading between Hong Kong and Shanghai was delayed further. The scheme was set to begin this week and many believe that protests are to blame. Financial stocks declined with HSBC losing 0.1% at the open.
European markets are lower today after another round of weak data from Germany. The Ifo Business Climate Index came out at 103.2 below the expected 104.3 dampening sentiment. Markets were initially reacting to results of stress tests performed on 130 European banks over the weekend. The outcome was not as bad as expected as only 25 banks failed. Currently, the DAX is down 0.96% while France’s CAC 40 is off 0.79% and London’s FTSE 100 is lower by 0.42%.
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