U.S stocks ended lower following weak economic reports. The U.S ADP Nonfarm Employment change showed that just 189K payrolls were added when predicted to be 225K. The ISM manufacturing PMI also missed expectations at 51.5. Jeffrey Saut, chief investment strategist at Raymond James, noted that “At the moments there are too many indicators that seem to point to being patient and wait until fundamentals improve. There is internal deterioration, softening economy and falling earnings expectations. It is difficult to be patient, but that’s exactly what investors should be.” After data has recently been positive and fueled speculation of an interest rate hike in June, the data added to speculation that the hike will be delayed until September. At session close the S&P 500 was 0.4% lower at 2,059.69 and the Dow Jones lost 0.4% at 17,698.18.
Asian markets climbed today. The Nikkei added 1.46% on hopes that the Central bank is buying stocks. According to Reuters, there are hopes that the bank will buy stocks during periods of weakness and the bank purchased 35.2 billion yen worth of funds yesterday when the market dropped to a 3 week low. Tokuyama Corp added 6.43%, Dentsu Inc added 5.43% and Hokuetsu Kishu Paper Co added 4.79%. The Hang Seng added 0.77% due to bargain hunting. Want Want China Holdings added 5.28%, china Unicom Hong Kong added 3.53% and CITIC added 2.38%.
European markets are mixed today as focus remains on Greece. Greece gave a new list of reforms to the IMF, ECB and other lenders yesterday in another step to make a bailout agreement. Markets remain strong due to the release of consistently positive data recently. The FTSE 100 is up 0.45% following gains in Marks and Spencer after the release of their earnings report; they reported a rise in 4th quarter sales and noted outperformance in the food sector. Marks & Spencer is up 3.86%, Coca-Cola HBC is up 3.68% and Barclays is up 2.01%. The CAC 40 is up 0.2% but the DAX is down 0.3%. In the DAX, Deutsche Lufthansa is down 2.81%, Daimler is down 2.62% and Bayer is down 1.72%.
The Nonfarm Payrolls report will be released from the U.S tomorrow. Volatility is expected to be lower than usual as several markets are closed for Good Friday. Closures include; Australia, France, Italy, Hong Kong, Canada, Singapore and the U.K.
April 2, 2015 – Indices News
U.S stocks ended lower following weak economic reports. The U.S ADP Nonfarm Employment change showed that just 189K payrolls were added when predicted to be 225K. The ISM manufacturing PMI also missed expectations at 51.5. Jeffrey Saut, chief investment strategist at Raymond James, noted that “At the moments there are too many indicators that seem to point to being patient and wait until fundamentals improve. There is internal deterioration, softening economy and falling earnings expectations. It is difficult to be patient, but that’s exactly what investors should be.” After data has recently been positive and fueled speculation of an interest rate hike in June, the data added to speculation that the hike will be delayed until September. At session close the S&P 500 was 0.4% lower at 2,059.69 and the Dow Jones lost 0.4% at 17,698.18.
Asian markets climbed today. The Nikkei added 1.46% on hopes that the Central bank is buying stocks. According to Reuters, there are hopes that the bank will buy stocks during periods of weakness and the bank purchased 35.2 billion yen worth of funds yesterday when the market dropped to a 3 week low. Tokuyama Corp added 6.43%, Dentsu Inc added 5.43% and Hokuetsu Kishu Paper Co added 4.79%. The Hang Seng added 0.77% due to bargain hunting. Want Want China Holdings added 5.28%, china Unicom Hong Kong added 3.53% and CITIC added 2.38%.
European markets are mixed today as focus remains on Greece. Greece gave a new list of reforms to the IMF, ECB and other lenders yesterday in another step to make a bailout agreement. Markets remain strong due to the release of consistently positive data recently. The FTSE 100 is up 0.45% following gains in Marks and Spencer after the release of their earnings report; they reported a rise in 4th quarter sales and noted outperformance in the food sector. Marks & Spencer is up 3.86%, Coca-Cola HBC is up 3.68% and Barclays is up 2.01%. The CAC 40 is up 0.2% but the DAX is down 0.3%. In the DAX, Deutsche Lufthansa is down 2.81%, Daimler is down 2.62% and Bayer is down 1.72%.
The Nonfarm Payrolls report will be released from the U.S tomorrow. Volatility is expected to be lower than usual as several markets are closed for Good Friday. Closures include; Australia, France, Italy, Hong Kong, Canada, Singapore and the U.K.
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