Nasdaq Hits Record High, German Parliament to Vote on Greek Bailout Deal
July 17, 2015 5:45 am
Both US and Asian stocks closed higher in their respective sessions as Chinese shares extended their recovery and a set of strong earnings by US companies such as Netflix and eBay pushed markets northward, with the Nasdaq up more than 1% to close at 5,163, another record high. The Dow closed 70 points higher at 18,120, the S&P500 moved up 16 points to close at 2,124.
The Euro was in touching distance of a seven year low against the Dollar at $1.0855, the Dollar briefly hit a three week high of 124.35 Yen, but then received an uplift against its peers after positive US claims data kept up expectations that there would be a rate hike in US interest rates this year. Sterling was buying $1.5625 up 0.2%, scaling back to a two week peak of $1.5676 hit on Wednesday. After the RBC moved interest rates CAD traded at C$1.2954, within touching distance of C$1.2974 hit earlier in the session. AUD moved away from its six year low against the Greenback, climbing 0.1% to trade around the $0.7350. NZD dropped 65 cents for the first time in six years before calming down and trading around the $0.6537 mark.
U.S. crude moved up 0.1% to $50.98 a barrel and Brent rose 0.3% to $57.09 a barrel.
There was some interesting news coming out of the BOE yesterday, with Governor Mark Carney saying that the decision to hike interest rates from record low levels would come into “sharper relief” potentially later in the year. Carney reinforced the rhetoric that when rates are to rise it would be gradual and to levels “about half as high as historical averages”.
Over to the Greek debt deal situation and Europe moved to re-open funding to Greece’s stricken economy on Thursday after the parliament in Athens approved a new bailout programme in a fractious vote that left the government without a majority. Eyes are now on today’s meeting in German, where the German parliament is to vote on whether to allow negotiations on Greece’s €86bn bailout deal. Chancellor Angela Merkel has has urged MPs to back the deal, saying she was “absolutely convinced” it was the way forward.
Within the equity space British Airways-owner IAG’s takeover of Aer Lingus edged closer yesterday as the U.S. regulator gave its approval and the Irish carrier’s shareholders backed special resolutions linked to the deal. Investors in Aer Lingus now have until July 30th to accept the E1.3bn offer. IAG stock opened 0.5% lower at 556p per share.
Both US and Asian stocks closed higher in their respective sessions as Chinese shares extended their recovery and a set of strong earnings by US companies such as Netflix and eBay pushed markets northward, with the Nasdaq up more than 1% to close at 5,163, another record high. The Dow closed 70 points higher at 18,120, the S&P500 moved up 16 points to close at 2,124.
The Euro was in touching distance of a seven year low against the Dollar at $1.0855, the Dollar briefly hit a three week high of 124.35 Yen, but then received an uplift against its peers after positive US claims data kept up expectations that there would be a rate hike in US interest rates this year. Sterling was buying $1.5625 up 0.2%, scaling back to a two week peak of $1.5676 hit on Wednesday. After the RBC moved interest rates CAD traded at C$1.2954, within touching distance of C$1.2974 hit earlier in the session. AUD moved away from its six year low against the Greenback, climbing 0.1% to trade around the $0.7350. NZD dropped 65 cents for the first time in six years before calming down and trading around the $0.6537 mark.
U.S. crude moved up 0.1% to $50.98 a barrel and Brent rose 0.3% to $57.09 a barrel.
There was some interesting news coming out of the BOE yesterday, with Governor Mark Carney saying that the decision to hike interest rates from record low levels would come into “sharper relief” potentially later in the year. Carney reinforced the rhetoric that when rates are to rise it would be gradual and to levels “about half as high as historical averages”.
Over to the Greek debt deal situation and Europe moved to re-open funding to Greece’s stricken economy on Thursday after the parliament in Athens approved a new bailout programme in a fractious vote that left the government without a majority. Eyes are now on today’s meeting in German, where the German parliament is to vote on whether to allow negotiations on Greece’s €86bn bailout deal. Chancellor Angela Merkel has has urged MPs to back the deal, saying she was “absolutely convinced” it was the way forward.
Within the equity space British Airways-owner IAG’s takeover of Aer Lingus edged closer yesterday as the U.S. regulator gave its approval and the Irish carrier’s shareholders backed special resolutions linked to the deal. Investors in Aer Lingus now have until July 30th to accept the E1.3bn offer. IAG stock opened 0.5% lower at 556p per share.
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