New Record Highs for the Dow and S&P After Fed Comments, Weir Group Plummets on the FTSE
February 25, 2015 7:28 am
Asian stocks rose on Wednesday, taking their cue from Wall Street’s gains after Federal Reserve Chair Janet Yellen suggested the Fed would not rush into raising interest rates. U.S. stocks closed higher on Tuesday, with the Dow and S&P 500 hitting new records, as investors attempted to interpret a subtle change in emphasis in testimony by the Fed. The Dow closed 92 points higher at 18,209, the S7P500 closed 5 points higher at 2,115.
The Euro edged up 0.1% to $1.1346 having pulled up from Tuesday’s intraday low of $1.1288. The Dollar slipped 0.2% to 118.73 Yen, after setting a 12-day high of 119.84 Yen on Tuesday in a knee-jerk reaction to early headlines from Yellen’s testimony. The Australian Dollar rose 0.6% to $0.7874, aided by the Greenback’s broad weakness and a survey showing that activity in China’s mammoth factory sector edged up to a four-month high in February.
Brent added about 0.4% to $58.87 a barrel, though U.S. crude edged down slightly to $49.27. Spot gold added about 0.9% on the day to $1,211.30 per ounce after it plumbed a seven-week low on Tuesday, before rebounding as the U.S. dollar weakened.
Within the equity space engineer Weir Group said it expected a significant reduction in revenue on a constant currency basis, as well as lower operating margins in 2015. The stock is currently bottom of the FTSE100 in early trade, down 7% at1732p per share.
Asian stocks rose on Wednesday, taking their cue from Wall Street’s gains after Federal Reserve Chair Janet Yellen suggested the Fed would not rush into raising interest rates. U.S. stocks closed higher on Tuesday, with the Dow and S&P 500 hitting new records, as investors attempted to interpret a subtle change in emphasis in testimony by the Fed. The Dow closed 92 points higher at 18,209, the S7P500 closed 5 points higher at 2,115.
The Euro edged up 0.1% to $1.1346 having pulled up from Tuesday’s intraday low of $1.1288. The Dollar slipped 0.2% to 118.73 Yen, after setting a 12-day high of 119.84 Yen on Tuesday in a knee-jerk reaction to early headlines from Yellen’s testimony. The Australian Dollar rose 0.6% to $0.7874, aided by the Greenback’s broad weakness and a survey showing that activity in China’s mammoth factory sector edged up to a four-month high in February.
Brent added about 0.4% to $58.87 a barrel, though U.S. crude edged down slightly to $49.27. Spot gold added about 0.9% on the day to $1,211.30 per ounce after it plumbed a seven-week low on Tuesday, before rebounding as the U.S. dollar weakened.
Within the equity space engineer Weir Group said it expected a significant reduction in revenue on a constant currency basis, as well as lower operating margins in 2015. The stock is currently bottom of the FTSE100 in early trade, down 7% at1732p per share.
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