U.S. stocks climbed as the market welcomed mostly positive earnings figures. The S&P 500 added 0.91% as one of its components, Apple, reported strong results. The multinational corporation reported a 13% rise in profits following the release of its iPhone 6 and iPhone 6 Plus in September. Revenue for the company has risen to $42.1 billion compared to $37.5 billion one year earlier as phone sales soared to 39.2million. In addition to this, Apple also started its Apple Pay system boosting sentiment further. The Dow Jones added 0.12% after originally falling following weak results from IBM. Figures were weaker than expected with the company posting lower quarterly earnings and. The expectation was to see earnings of $4.31/share, however, the total was just $3.68. Revenue was predicted to be $22.4 billion and instead totaled $23.37 billion. Today the market will be awaiting Existing Home Sales data and earnings reports from many companies including Asos, Coca- Cola, McDonalds and Harley- Davidson.
Asian markets were mixed today. The Nikkei lost 2.03% after a strong rally during the earlier session. The Dollar posted some losses against the Yen trading at ¥106.86 down from ¥107. The Dollar has been depreciating as it is now speculated that the tapering process may be postponed and that interest rates will not increase sooner than expected. The Yen also made gains as a safe haven asset and after China released better than expected data including positive quarterly and yearly GDP. The Hang Seng climbed 0.04%. Yearly GDP increased by 7.3% and quarterly GDP climbed 1.9%. Strong Industrial production data was also released, increasing by 8% in the previous month. Gains were limited however as the strong data reduced speculation that stimulus could be increased.
European markets are higher today due to speculation that the ECB will inject more money into the economy. The bank is reported to have bought Italian bonds. Currently, the DAX is up 1.33% and the CAC 40 is up 1.72%. The FTSE 100 is 0.87% higher as oil firms gained with rising prices.
October 21, 2014 – Indices News
U.S. stocks climbed as the market welcomed mostly positive earnings figures. The S&P 500 added 0.91% as one of its components, Apple, reported strong results. The multinational corporation reported a 13% rise in profits following the release of its iPhone 6 and iPhone 6 Plus in September. Revenue for the company has risen to $42.1 billion compared to $37.5 billion one year earlier as phone sales soared to 39.2million. In addition to this, Apple also started its Apple Pay system boosting sentiment further. The Dow Jones added 0.12% after originally falling following weak results from IBM. Figures were weaker than expected with the company posting lower quarterly earnings and. The expectation was to see earnings of $4.31/share, however, the total was just $3.68. Revenue was predicted to be $22.4 billion and instead totaled $23.37 billion. Today the market will be awaiting Existing Home Sales data and earnings reports from many companies including Asos, Coca- Cola, McDonalds and Harley- Davidson.
Asian markets were mixed today. The Nikkei lost 2.03% after a strong rally during the earlier session. The Dollar posted some losses against the Yen trading at ¥106.86 down from ¥107. The Dollar has been depreciating as it is now speculated that the tapering process may be postponed and that interest rates will not increase sooner than expected. The Yen also made gains as a safe haven asset and after China released better than expected data including positive quarterly and yearly GDP. The Hang Seng climbed 0.04%. Yearly GDP increased by 7.3% and quarterly GDP climbed 1.9%. Strong Industrial production data was also released, increasing by 8% in the previous month. Gains were limited however as the strong data reduced speculation that stimulus could be increased.
European markets are higher today due to speculation that the ECB will inject more money into the economy. The bank is reported to have bought Italian bonds. Currently, the DAX is up 1.33% and the CAC 40 is up 1.72%. The FTSE 100 is 0.87% higher as oil firms gained with rising prices.
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