U.S markets climbed following the FOMC Meeting Minutes. Earlier in the session, FOMC Member Dudley spoke in New York and was more hawkish than usual. However, he maintained that the Fed would not rush into the decision. He stated that “It’d be reasonable to think that the timing of the Fed’s first rate hike might be a little further off in time. I can imagine a situation where a June rate hike could still be in play….but obviously it’s a bigger hurdle because we’ve had a lot of weak data. Now you have to see sufficient data on the other side. Now the bar is a little higher.” The FOMC Meeting Minutes showed that several officials still believe that June is the right time to hike rates. However, concerns over the economic outlook were discussed as well as the impact of the stronger Dollar. At session close, the S&P 500 was 0.3% higher at 2,081.9 and the Dow Jones was 0.2% higher at 17,902.51.
Asian markets were mostly higher today. The Nikkei added 0.75% to a 15 year high as the Dollar traded higher against the Yen; the dollar traded around 120.3 at the close of the session. In addition, the Bank of Japans monthly report was released but did not have any great impact. Improvement in the economy was discussed alongside the effects of the QE program. Retailer shares led gains with UNY Group Holdings adding 4.3% and Marui Group Co adding 3.68%. The Hang Seng rallied 2.7% as fund continued to flow in from the new trading link and as traders appeared to invest at low prices. Credit Suisse commented that stocks could move even higher. Lenovo Group added 9.08%, Hong Kong exchanges and Clearing added 8.97% and China Mengniu Dairy Co added 6.86%.
European markets are higher today on the back of the FOMC Minutes. The FTSE 100 is up 0.88% with Burberry leading gains following a decision from J.P Morgan Cazenove to raise its estimates by 5% for 2016 and 2017. Other movers are Pearson PLC which is 3.07% higher and Sports Direct International which is up 2.87%. The DAX is up 0.57% due to mixed data; German imports and exports both beat expectations but the Trade Balance disappointed. K+S AG is up 2.06%, Deutsche Boerse AG is up 2.03% and Adidas is up 1.56%. The CAC is up 0.96%.
April 9, 2015 – Indices News
U.S markets climbed following the FOMC Meeting Minutes. Earlier in the session, FOMC Member Dudley spoke in New York and was more hawkish than usual. However, he maintained that the Fed would not rush into the decision. He stated that “It’d be reasonable to think that the timing of the Fed’s first rate hike might be a little further off in time. I can imagine a situation where a June rate hike could still be in play….but obviously it’s a bigger hurdle because we’ve had a lot of weak data. Now you have to see sufficient data on the other side. Now the bar is a little higher.” The FOMC Meeting Minutes showed that several officials still believe that June is the right time to hike rates. However, concerns over the economic outlook were discussed as well as the impact of the stronger Dollar. At session close, the S&P 500 was 0.3% higher at 2,081.9 and the Dow Jones was 0.2% higher at 17,902.51.
Asian markets were mostly higher today. The Nikkei added 0.75% to a 15 year high as the Dollar traded higher against the Yen; the dollar traded around 120.3 at the close of the session. In addition, the Bank of Japans monthly report was released but did not have any great impact. Improvement in the economy was discussed alongside the effects of the QE program. Retailer shares led gains with UNY Group Holdings adding 4.3% and Marui Group Co adding 3.68%. The Hang Seng rallied 2.7% as fund continued to flow in from the new trading link and as traders appeared to invest at low prices. Credit Suisse commented that stocks could move even higher. Lenovo Group added 9.08%, Hong Kong exchanges and Clearing added 8.97% and China Mengniu Dairy Co added 6.86%.
European markets are higher today on the back of the FOMC Minutes. The FTSE 100 is up 0.88% with Burberry leading gains following a decision from J.P Morgan Cazenove to raise its estimates by 5% for 2016 and 2017. Other movers are Pearson PLC which is 3.07% higher and Sports Direct International which is up 2.87%. The DAX is up 0.57% due to mixed data; German imports and exports both beat expectations but the Trade Balance disappointed. K+S AG is up 2.06%, Deutsche Boerse AG is up 2.03% and Adidas is up 1.56%. The CAC is up 0.96%.
Related Posts: