U.S. markets reached record levels again after the GDP report showed the economy to expand by its fastest pace in 11 years, gaining 5% over the last quarter. The data reaffirmed economic improvement and underlined investor confidence. The S&P 500 closed at 2,082.17, the 51st record close this year. The Dow Jones closed 0.36% higher at 18,024.17. This is the first time the index has ever closed above 18,000 and marks one of the fastest 1000 point increases in history. Chevron climbed 1.71% and Exxon Mobil climbed 1.35% as they benefited from rallying oil prices. Coca Cola climbed 1.46%, Boeing climbed 1.41% and Caterpillar climbed 1.28%. Initial Jobless claims data will be released from the U.S at 1.30 PM (GMT) and will be the last piece of data before the Christmas holidays. Futures are currently up in the premarket but gains may be limited in holiday thinned trade.
Asian markets were mixed across the region. The Nikkei gained 1.24% as the Dollar rallied against the Yen yesterday climbing to a high of 120.8. Although it weakened slightly before the close of the session, it remained at a two week high against the Yen. Traders also caught up to the U.S after being closed for a holiday one day earlier. Tokyo Dome was the strongest gainer, adding 8.74%. Sony added 3.99%, Nissan Chemicals added 3.89%, and Tokyo Electron added 3.465. The Hang Seng added 0.07% and the Shanghai Composite dropped 1.98% as the Chinese government is taking steps to cool the market. The main movers were Galaxy Entertainment up 3.8% and Ping An Insurance down 3.09%.
European markets finished mixed today. The DAX remained closed for Christmas Eve and the CAC 40 & FTSE traded for a half day. The CAC 40 lost 0.45% after gaining yesterday on Consumer Spending data. The FTSE 100 closed 0.18% higher led by Smith & Nephew up 7.71%. The company jumped on reports that a U.S company, Stryker, is starting a takeover bid.
December 24, 2014 – Indices News
U.S. markets reached record levels again after the GDP report showed the economy to expand by its fastest pace in 11 years, gaining 5% over the last quarter. The data reaffirmed economic improvement and underlined investor confidence. The S&P 500 closed at 2,082.17, the 51st record close this year. The Dow Jones closed 0.36% higher at 18,024.17. This is the first time the index has ever closed above 18,000 and marks one of the fastest 1000 point increases in history. Chevron climbed 1.71% and Exxon Mobil climbed 1.35% as they benefited from rallying oil prices. Coca Cola climbed 1.46%, Boeing climbed 1.41% and Caterpillar climbed 1.28%. Initial Jobless claims data will be released from the U.S at 1.30 PM (GMT) and will be the last piece of data before the Christmas holidays. Futures are currently up in the premarket but gains may be limited in holiday thinned trade.
Asian markets were mixed across the region. The Nikkei gained 1.24% as the Dollar rallied against the Yen yesterday climbing to a high of 120.8. Although it weakened slightly before the close of the session, it remained at a two week high against the Yen. Traders also caught up to the U.S after being closed for a holiday one day earlier. Tokyo Dome was the strongest gainer, adding 8.74%. Sony added 3.99%, Nissan Chemicals added 3.89%, and Tokyo Electron added 3.465. The Hang Seng added 0.07% and the Shanghai Composite dropped 1.98% as the Chinese government is taking steps to cool the market. The main movers were Galaxy Entertainment up 3.8% and Ping An Insurance down 3.09%.
European markets finished mixed today. The DAX remained closed for Christmas Eve and the CAC 40 & FTSE traded for a half day. The CAC 40 lost 0.45% after gaining yesterday on Consumer Spending data. The FTSE 100 closed 0.18% higher led by Smith & Nephew up 7.71%. The company jumped on reports that a U.S company, Stryker, is starting a takeover bid.