U.S markets climbed following the ECB’s press conference. Draghi announced that bond buying will begin on Monday with the aim of boosting growth and inflation. He noted that inflation should start to pick up during the second half of 2015 in response to the monetary easing and low oil prices. In addition, the bank lifted their forecast for growth. Markets reacted strongly to the prospect of higher money supply in the market and shrugged off weaker than expected labour data from the U.S; Initial Jobless Claims climbed to 320K, up from the expected 295K.Gains were limited, however, as investors remained cautious ahead of today’s NFP report as if positive, it could push the Fed to increase rates sooner. At session close, the S&P 500 added 0.12% to 2,101.04 and the Dow Jones added 0.21% to 18,135.72. In the Dow Jones, Wal Mart added 1.2%, Nike added 0.96% and Johnson and Johnson added 0.86%.
Asian markets were mixed across the region. The Nikkei added 1.17% to a new 15 year high as the Dollar moved back above 120¥ ahead of NFP and the Yen weakened on the back of negative Leading Index Data which came out at 105.1. Stocks benefited ftom the weaker Yen and the strongest movers in the index were Sumitomo Dainippon Pharma Co which added 12.49%, UNY Group Holdings which added 10.66% and Ajinomoto Co which added 7.31%. The Hang Seng lost 0.12% and the Shanghai Composite lost 0.22% as investors still worries about an economic slowdown after China lowered the growth target to 7%. In the Hang Seng, China Unicom Honk Kong lost 3.03%, Kunlun energy Co lost 1.72% and BOC Hong Kong Holdings lost 1.68%.
European markets are mixed today. The Nonfarm Payrolls figure was just released and showed a much higher figure than expected; 295,000 people were employed over the past month, above expectations for 240,000. In addition the Unemployment Rate dropped to 5.5%. Traders are now assessing the data against the ECB decision as the data makes it increasingly likely that the Fed will increase interest rates in June. Currently, the FTSE 100 is down 0.44%, the DAX is up 0.32% and the CAC 40 is up 0.13%. Decliners in the FTSE include Randgold Resources which is down 4.36%, Fresnillo PLC which is down 3.94% and Intu Properties is down 3.64%. In the DAX, Adidas is up 2.91% and Commerzbank is up 1.32%.
March 6, 2015 – Indices News
U.S markets climbed following the ECB’s press conference. Draghi announced that bond buying will begin on Monday with the aim of boosting growth and inflation. He noted that inflation should start to pick up during the second half of 2015 in response to the monetary easing and low oil prices. In addition, the bank lifted their forecast for growth. Markets reacted strongly to the prospect of higher money supply in the market and shrugged off weaker than expected labour data from the U.S; Initial Jobless Claims climbed to 320K, up from the expected 295K.Gains were limited, however, as investors remained cautious ahead of today’s NFP report as if positive, it could push the Fed to increase rates sooner. At session close, the S&P 500 added 0.12% to 2,101.04 and the Dow Jones added 0.21% to 18,135.72. In the Dow Jones, Wal Mart added 1.2%, Nike added 0.96% and Johnson and Johnson added 0.86%.
Asian markets were mixed across the region. The Nikkei added 1.17% to a new 15 year high as the Dollar moved back above 120¥ ahead of NFP and the Yen weakened on the back of negative Leading Index Data which came out at 105.1. Stocks benefited ftom the weaker Yen and the strongest movers in the index were Sumitomo Dainippon Pharma Co which added 12.49%, UNY Group Holdings which added 10.66% and Ajinomoto Co which added 7.31%. The Hang Seng lost 0.12% and the Shanghai Composite lost 0.22% as investors still worries about an economic slowdown after China lowered the growth target to 7%. In the Hang Seng, China Unicom Honk Kong lost 3.03%, Kunlun energy Co lost 1.72% and BOC Hong Kong Holdings lost 1.68%.
European markets are mixed today. The Nonfarm Payrolls figure was just released and showed a much higher figure than expected; 295,000 people were employed over the past month, above expectations for 240,000. In addition the Unemployment Rate dropped to 5.5%. Traders are now assessing the data against the ECB decision as the data makes it increasingly likely that the Fed will increase interest rates in June. Currently, the FTSE 100 is down 0.44%, the DAX is up 0.32% and the CAC 40 is up 0.13%. Decliners in the FTSE include Randgold Resources which is down 4.36%, Fresnillo PLC which is down 3.94% and Intu Properties is down 3.64%. In the DAX, Adidas is up 2.91% and Commerzbank is up 1.32%.
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