U.S. stocks climbed following strong earnings and positive data. Caterpillar and 3M reported stronger than expected results causing a rally throughout the day. Caterpillar reported earnings of $1.72/ share as well as revenue of $13.55 billion and gained 5%. 3M reported earnings of $1.98/ share and rose 4.4% throughout the session. Initial Jobless Claims were slightly worse than expected, however, they remained below 300,000 for a sixth week. The Manufacturing PMI was also worse than expected at 56.2, a three month low, but still showed growth. At session close, the S&P 500 was up 1.23% and the Dow Jones was up 1.32%.
Asian markets were mixed today. The Nikkei gained 1.01% as the Yen weakened against the U.S. Dollar; the Dollar was buying ¥108.17 compared to ¥107.21 a session earlier. The weaker Yen boosted exporters with Toshiba climbing 3.1% and Toyota adding 2.1%. The Hang Seng, however, declined 0.06% after House prices data declined 1.3%. Banking and real estate shares also declined with Bank of Communications losing 0.7% and Industrial and Commercial bank of China down 0.4%. Anhui Conch Cement Co lost 2.4%.
European markets are lower today as markets are skittish following news of an Ebola case in New York. Markets shrugged off positive data from Germany. The Gfk Consumer Climate came out at 8.5 better than the expected figure of 8. Markets in London are also lower after Tesco dropped 3.3% yesterday after the Chair of the board resigned following an accounting mistake earlier this year. Currently, the CAC 40 is down 0.49% while Germany’s DAX is off 0.38% and London’s FTSE 100 is lower by 0.23%.
October 24, 2014 – Indices News
U.S. stocks climbed following strong earnings and positive data. Caterpillar and 3M reported stronger than expected results causing a rally throughout the day. Caterpillar reported earnings of $1.72/ share as well as revenue of $13.55 billion and gained 5%. 3M reported earnings of $1.98/ share and rose 4.4% throughout the session. Initial Jobless Claims were slightly worse than expected, however, they remained below 300,000 for a sixth week. The Manufacturing PMI was also worse than expected at 56.2, a three month low, but still showed growth. At session close, the S&P 500 was up 1.23% and the Dow Jones was up 1.32%.
Asian markets were mixed today. The Nikkei gained 1.01% as the Yen weakened against the U.S. Dollar; the Dollar was buying ¥108.17 compared to ¥107.21 a session earlier. The weaker Yen boosted exporters with Toshiba climbing 3.1% and Toyota adding 2.1%. The Hang Seng, however, declined 0.06% after House prices data declined 1.3%. Banking and real estate shares also declined with Bank of Communications losing 0.7% and Industrial and Commercial bank of China down 0.4%. Anhui Conch Cement Co lost 2.4%.
European markets are lower today as markets are skittish following news of an Ebola case in New York. Markets shrugged off positive data from Germany. The Gfk Consumer Climate came out at 8.5 better than the expected figure of 8. Markets in London are also lower after Tesco dropped 3.3% yesterday after the Chair of the board resigned following an accounting mistake earlier this year. Currently, the CAC 40 is down 0.49% while Germany’s DAX is off 0.38% and London’s FTSE 100 is lower by 0.23%.
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