Despite increasingly low prices of oil worldwide, production has been increased further in the US. The overwhelming glut of oil weighed markets down and made bulls sluggish. Losses continued yesterday for the fourth day in a row, as the Dow Jones Industrial slid 1% to 17,427.1, the Nasdaq lost 0.48% to 4,639.3, and the S&P 500 dropped 0.58% to 2,011.3.
Natural gas and, more importantly to Asian markets, copper prices started to recover. Stocks showed tentative signs of recovery, which gained momentum as the day progressed. Japanese data regarding machine component orders came back negative today, stemming the effect of the copper price recovery. Mitsumi Electric Co Ltd rose 12.7%, Bridgestone Corp rose 6.7%, but Mitsui Mining & Smelting Co Ltd slid 3.8%. The Dollar rose against the Yen throughout the session, allowing the Nikkei to rise by 1.86%. Hong Kong investors may have been put off based on a speech chief executive Leung, urging obedience to Chinese rule. The Hang Seng pulled up slightly by 0.65% to 24,269 after China Life Insurance Co Ltd increased 3.3% and Ping An Insurance Group Co of China Ltd increased 3.2%
Yesterday, Europe showed strong uncertainty in its economic future. Stocks dove, with investors losing faith in the European Central Bank’s intent to follow through with a stimulus package. The DAX closed 1.25% lower and the CAC 40 closed 1.56% lower. Negative speculations about housing prices in the UK depressed the markets further, causing the FTSE 100 to sink 2.35%. As pressure builds on the ECB, their stimulus plans could be implemented sooner than expected, allowing for markets to rocket upward.
January 15, 2015 – Indices News
Despite increasingly low prices of oil worldwide, production has been increased further in the US. The overwhelming glut of oil weighed markets down and made bulls sluggish. Losses continued yesterday for the fourth day in a row, as the Dow Jones Industrial slid 1% to 17,427.1, the Nasdaq lost 0.48% to 4,639.3, and the S&P 500 dropped 0.58% to 2,011.3.
Natural gas and, more importantly to Asian markets, copper prices started to recover. Stocks showed tentative signs of recovery, which gained momentum as the day progressed. Japanese data regarding machine component orders came back negative today, stemming the effect of the copper price recovery. Mitsumi Electric Co Ltd rose 12.7%, Bridgestone Corp rose 6.7%, but Mitsui Mining & Smelting Co Ltd slid 3.8%. The Dollar rose against the Yen throughout the session, allowing the Nikkei to rise by 1.86%. Hong Kong investors may have been put off based on a speech chief executive Leung, urging obedience to Chinese rule. The Hang Seng pulled up slightly by 0.65% to 24,269 after China Life Insurance Co Ltd increased 3.3% and Ping An Insurance Group Co of China Ltd increased 3.2%
Yesterday, Europe showed strong uncertainty in its economic future. Stocks dove, with investors losing faith in the European Central Bank’s intent to follow through with a stimulus package. The DAX closed 1.25% lower and the CAC 40 closed 1.56% lower. Negative speculations about housing prices in the UK depressed the markets further, causing the FTSE 100 to sink 2.35%. As pressure builds on the ECB, their stimulus plans could be implemented sooner than expected, allowing for markets to rocket upward.