U.S markets dropped on Friday following the release of mixed U.S data. U.S GDP increased by 2.2% over the last quarter, above expectations for an increase of 2.1%. Michigan Consumer Sentiment also increased to 95.4. Pending Home Sales, however, missed expectations and only increased by 1.7% and the Chicago PMI dropped to 45.8. At session close, the S&P 500 dropped 0.3% to 2,104.5 and the Dow Jones dropped 0.45% to 18,132.7. However, markets posted an overall gain for the month on the back of stabilizing oil prices, central bank policies, progress in Greek talks and potential peace between Ukraine and Russia. In the Dow Jones, American Express dropped by 1.99%, Cisco Systems dropped by 1.34%, Goldman Sachs dropped by 1.25% and Intel dropped by 1.19%.
Asian markets climbed across the region. The Hang Seng added 0.26% and the Shanghai Composite added 0.78% as the People’s Bank of China made a surprising cut to the interest rate. They cut both the benchmark one-year loan rate and the one-year deposit rate by 0.25%. In addition the Chinese Manufacturing PMI climbed to 49.9. In the Hang Seng, AIA Group added 3.72%, Cheung Kong Holdings added 1.89% and China Shenhua Energy Co added 1.72%. The Nikkei added 0.15% as the Dollar moved higher against the Yen, trading around 119.9 at the end of the session compared to 119.67 at the open. Weaker than expected Japanese data also weakened the Yen; Japanese Capital Spending increased by just 2.8%, below the expected 4.1%. In the index, Sekisui added 3.26%, Dentsu Inc added 3.07% and Kawasaki Heavy Industries added 3%.
European markets are currently lower but continue to trade near highs. Losses are being seen today despite the release of positive CPI Data. Yearly CPI dropped by just 0.3% and the Core CPI grew by 0.6%. In addition to this, German Manufacturing PMI Data beat expectations to 51.1 but the overall Manufacturing PMI dropped to 51. Currently, the CAC 40 is down 0.82% while Germany’s DAX is off 0.26% and London’s FTSE 100 is lower by 0.22%. In the FTSE, Tullow Oil is leading losses with a decline of 6.56%, Standard Chartered is down 2.01% and Rolls-Royce Holdings is down 1.79%. In the DAX, RWE is down 1% and Siemens is down 0.94%.
March 2, 2015 – Indices News
U.S markets dropped on Friday following the release of mixed U.S data. U.S GDP increased by 2.2% over the last quarter, above expectations for an increase of 2.1%. Michigan Consumer Sentiment also increased to 95.4. Pending Home Sales, however, missed expectations and only increased by 1.7% and the Chicago PMI dropped to 45.8. At session close, the S&P 500 dropped 0.3% to 2,104.5 and the Dow Jones dropped 0.45% to 18,132.7. However, markets posted an overall gain for the month on the back of stabilizing oil prices, central bank policies, progress in Greek talks and potential peace between Ukraine and Russia. In the Dow Jones, American Express dropped by 1.99%, Cisco Systems dropped by 1.34%, Goldman Sachs dropped by 1.25% and Intel dropped by 1.19%.
Asian markets climbed across the region. The Hang Seng added 0.26% and the Shanghai Composite added 0.78% as the People’s Bank of China made a surprising cut to the interest rate. They cut both the benchmark one-year loan rate and the one-year deposit rate by 0.25%. In addition the Chinese Manufacturing PMI climbed to 49.9. In the Hang Seng, AIA Group added 3.72%, Cheung Kong Holdings added 1.89% and China Shenhua Energy Co added 1.72%. The Nikkei added 0.15% as the Dollar moved higher against the Yen, trading around 119.9 at the end of the session compared to 119.67 at the open. Weaker than expected Japanese data also weakened the Yen; Japanese Capital Spending increased by just 2.8%, below the expected 4.1%. In the index, Sekisui added 3.26%, Dentsu Inc added 3.07% and Kawasaki Heavy Industries added 3%.
European markets are currently lower but continue to trade near highs. Losses are being seen today despite the release of positive CPI Data. Yearly CPI dropped by just 0.3% and the Core CPI grew by 0.6%. In addition to this, German Manufacturing PMI Data beat expectations to 51.1 but the overall Manufacturing PMI dropped to 51. Currently, the CAC 40 is down 0.82% while Germany’s DAX is off 0.26% and London’s FTSE 100 is lower by 0.22%. In the FTSE, Tullow Oil is leading losses with a decline of 6.56%, Standard Chartered is down 2.01% and Rolls-Royce Holdings is down 1.79%. In the DAX, RWE is down 1% and Siemens is down 0.94%.