U.S. stocks rallied yesterday ahead of the FOMC statement. Investors widely expect the Federal Reserve to end their quantitative easing program today. However, interest rates should remain the same. Earnings season has also been mostly positive and traders have welcomed results which have eased fears of an economic slowdown. Investors mostly shrugged off economic data which was mixed. Core Durable Goods Orders came out the worst it had been in 8 months declining 0.2% instead of increasing by an expected 0.5%. However, CB Consumer Confidence Data showed the highest figure since 2007 of 94.5. The S&P 500 closed 1.19% higher and the Dow Jones climbed 1.12%.
Asian stocks also moved higher across the region. The Nikkei climbed 1.46% higher as the Dollar climbed back up to ¥108. Japanese Industrial Production also increased by 2.7% and companies reported strong earnings; Nomura Holdings, for example, added 2.65% after reporting that profit doubled to ¥52.87 billion. The weaker Yen then boosted exporters with Panasonic adding 1.81% and Sony adding 5.43%. The Hang Seng increased 1.27% as the trading link between China and Shanghai looks closer as Hong Kong’s stock regulator reported that they had finished preparatory work. Positive earnings were also released from insurers boosting sentiment.
European markets are higher today as attention has now turned to the FOMC statement at the completion of the Fed’s two day meeting. Currently, the DAX is up 0.70% while the FTSE 100 gains 0.47%. The CAC 40 is off 0.05%.
October 29, 2014 – Indices News
U.S. stocks rallied yesterday ahead of the FOMC statement. Investors widely expect the Federal Reserve to end their quantitative easing program today. However, interest rates should remain the same. Earnings season has also been mostly positive and traders have welcomed results which have eased fears of an economic slowdown. Investors mostly shrugged off economic data which was mixed. Core Durable Goods Orders came out the worst it had been in 8 months declining 0.2% instead of increasing by an expected 0.5%. However, CB Consumer Confidence Data showed the highest figure since 2007 of 94.5. The S&P 500 closed 1.19% higher and the Dow Jones climbed 1.12%.
Asian stocks also moved higher across the region. The Nikkei climbed 1.46% higher as the Dollar climbed back up to ¥108. Japanese Industrial Production also increased by 2.7% and companies reported strong earnings; Nomura Holdings, for example, added 2.65% after reporting that profit doubled to ¥52.87 billion. The weaker Yen then boosted exporters with Panasonic adding 1.81% and Sony adding 5.43%. The Hang Seng increased 1.27% as the trading link between China and Shanghai looks closer as Hong Kong’s stock regulator reported that they had finished preparatory work. Positive earnings were also released from insurers boosting sentiment.
European markets are higher today as attention has now turned to the FOMC statement at the completion of the Fed’s two day meeting. Currently, the DAX is up 0.70% while the FTSE 100 gains 0.47%. The CAC 40 is off 0.05%.
Related Posts: