Oil Prices Slide Ahead of US Crude Inventory Figures, ARM Holdings Jumps After Strong Quarter
October 21, 2015 7:22 am
Newly released figures show that due to low demand from China, Japanese export data grew at its slowest rate since mid 2014. This lack of demand resulted in copper prices slipping to two week lows and the commodity-heavy Australian index closing 0.6% lower. In light of these poor results, expectations were raised that the Bank of Japan may induce more Quantitative Easing; this helped the Nikkei to climb 1.91% to 18 554.28. Over on Wall Street yesterday the Dow offered little lead, closing down 0.08% at 17 217.11, while the NASDAQ closed down 0.5% at 4 880.97 and the SP 500 finished 0.14% lower. According to Thomson Reuters data, earnings for SP 500 companies are expected to have fallen about 4% in the third quarter, while revenue is expected to have declined 3.8%.
The Euro was a little higher at $1.1359, while the Dollar index was last down 0.1% at 94.792. The New Zealand Dollar hit a one week low of $0.6737 after a disappointing global dairy auction saw prices for the country’s single largest export fall by 3.1%.
The price of oil has continued to slide as investors speculate that US inventories are expected to show the extent of the oversupply in the world’s oil market. Crude dropped 30c to $45.99 per barrel and Brent dropped 13c to $48.58. Crude oil inventories are expected to show 3.5M barrels released into the oil market last month.
UK computer chip designer ARM Holdings has reported a 24% rise in third quarter sales to £243.1M. Pre-tax profits jumped 29% to £128.4M. The third quarter has been a strong quarter for royalty revenue growth, which has been driven by premium chip pricing and elevated royalty percentages. In early trading, the stock is up 9.07% at 1054p per share.
There is a raft presentations due from central bankers today, including a Bank of Canada Monetary Policy Report and Rate statement at 3pm UK time. At 4:15, there will be a Bank of Canada Press Conference and at 6pm, the Bank of England’s Governor Mark Carney will be speaking. Investors may pay slightly more attention to Canadian policy announcements than usual after the country’s general election earlier this week which saw the Liberal party regain power from the Conservative Party after a stint of almost a decade in opposition.
Newly released figures show that due to low demand from China, Japanese export data grew at its slowest rate since mid 2014. This lack of demand resulted in copper prices slipping to two week lows and the commodity-heavy Australian index closing 0.6% lower. In light of these poor results, expectations were raised that the Bank of Japan may induce more Quantitative Easing; this helped the Nikkei to climb 1.91% to 18 554.28.
Over on Wall Street yesterday the Dow offered little lead, closing down 0.08% at 17 217.11, while the NASDAQ closed down 0.5% at 4 880.97 and the SP 500 finished 0.14% lower. According to Thomson Reuters data, earnings for SP 500 companies are expected to have fallen about 4% in the third quarter, while revenue is expected to have declined 3.8%.
The Euro was a little higher at $1.1359, while the Dollar index was last down 0.1% at 94.792. The New Zealand Dollar hit a one week low of $0.6737 after a disappointing global dairy auction saw prices for the country’s single largest export fall by 3.1%.
The price of oil has continued to slide as investors speculate that US inventories are expected to show the extent of the oversupply in the world’s oil market. Crude dropped 30c to $45.99 per barrel and Brent dropped 13c to $48.58. Crude oil inventories are expected to show 3.5M barrels released into the oil market last month.
UK computer chip designer ARM Holdings has reported a 24% rise in third quarter sales to £243.1M. Pre-tax profits jumped 29% to £128.4M. The third quarter has been a strong quarter for royalty revenue growth, which has been driven by premium chip pricing and elevated royalty percentages. In early trading, the stock is up 9.07% at 1054p per share.
There is a raft presentations due from central bankers today, including a Bank of Canada Monetary Policy Report and Rate statement at 3pm UK time. At 4:15, there will be a Bank of Canada Press Conference and at 6pm, the Bank of England’s Governor Mark Carney will be speaking. Investors may pay slightly more attention to Canadian policy announcements than usual after the country’s general election earlier this week which saw the Liberal party regain power from the Conservative Party after a stint of almost a decade in opposition.
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