Asian stocks continued decreasing today – heading towards the longest bearish movement this year. The main reason for this is speculation regarding the FOMC statement later this week. Stocks in Japan dropped as investor saw a slight strengthening of the YEN against the USD. Leading the bearish trend was Pacific Metals Co Ltd. with a drop of 3.84%. SoftBank continued its strong position ahead of Alibaba’s IPO in two days.
European stocks also responded negatively to the FOMC statement speculations as well as the upcoming Scottish referendum to split from the UK. Sports Direct International PLC lead the drop, losing 2.9% after BNP Paribas reiterated their ‘outperform’ rating. Tesco PLC fell 1.47%, recording an astonishing 39% drop since the beginning of the year.
U.S stocks rose on energy companies as WTI Crude (US OIL) advanced over $2 per barrel today – reaching a high of 93.8, the highest point in over a month. Pioneer Natural Resources Co added 2.62%. Apple had a downwards correction and lost 1.71%. Apple Inc is currently stabilized above the $100 per share line. Yahoo(!) Inc has joined the bearish trend with a drop of 0.31% after a week-long bullish trend. The main item for this week’s agenda is Alibaba’s IPO this Thursday.
September 16, 2014 – Stock Market News
Asian stocks continued decreasing today – heading towards the longest bearish movement this year. The main reason for this is speculation regarding the FOMC statement later this week. Stocks in Japan dropped as investor saw a slight strengthening of the YEN against the USD. Leading the bearish trend was Pacific Metals Co Ltd. with a drop of 3.84%. SoftBank continued its strong position ahead of Alibaba’s IPO in two days.
European stocks also responded negatively to the FOMC statement speculations as well as the upcoming Scottish referendum to split from the UK. Sports Direct International PLC lead the drop, losing 2.9% after BNP Paribas reiterated their ‘outperform’ rating. Tesco PLC fell 1.47%, recording an astonishing 39% drop since the beginning of the year.
U.S stocks rose on energy companies as WTI Crude (US OIL) advanced over $2 per barrel today – reaching a high of 93.8, the highest point in over a month. Pioneer Natural Resources Co added 2.62%. Apple had a downwards correction and lost 1.71%. Apple Inc is currently stabilized above the $100 per share line. Yahoo(!) Inc has joined the bearish trend with a drop of 0.31% after a week-long bullish trend. The main item for this week’s agenda is Alibaba’s IPO this Thursday.
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