US Crude Hovers Below $50 Mark, Apple Share Price Takes a Hit After Earnings Release
July 23, 2015 6:17 am
US and Asian shares ended in negative territory after some mixed economic data hit the market and mixed results from Apple pushed the technology sector lower. The technology company announced some strong figures in terms of revenue and general device sales, but fell short in terms of sales numbers for its flagship iPhone product – the stock closed down by 4.23% yesterday. The Dow fell 68 points to close at 17851, the S&P500 lost 5 points to close at 2114.
The Dollar held firm as encouraging home sales data from the US increased expectations for a Interest rate rise later this year. The Euro came off an overnight peak of £1.0966 to trade around the $1.09360 level. A drop in overnight commodity prices hurt certain currencies, with the Canadian dollar hovering near C$1.3053, a six year low against the US Dollar. The NZD bounced off a six year low to hold firm at $0.6654.
U.S. Crude for September delivery was 11 cents higher at $49.30 after dropping $1.67 on Wednesday to settle below $50 for the first time since April. Meanwhile, Brent crude was trading 2 cents lower, at $56.11 a barrel.
Kingfisher, which owns home improvement retailer B&Q, delivered a solid second-quarter sales performance across all its major businesses, albeit against softer comparatives than in the first quarter, helped by growth in both Britain and France. The stock was trading 1% higher in early trade at 370p per share.
US and Asian shares ended in negative territory after some mixed economic data hit the market and mixed results from Apple pushed the technology sector lower. The technology company announced some strong figures in terms of revenue and general device sales, but fell short in terms of sales numbers for its flagship iPhone product – the stock closed down by 4.23% yesterday. The Dow fell 68 points to close at 17851, the S&P500 lost 5 points to close at 2114.
The Dollar held firm as encouraging home sales data from the US increased expectations for a Interest rate rise later this year. The Euro came off an overnight peak of £1.0966 to trade around the $1.09360 level. A drop in overnight commodity prices hurt certain currencies, with the Canadian dollar hovering near C$1.3053, a six year low against the US Dollar. The NZD bounced off a six year low to hold firm at $0.6654.
U.S. Crude for September delivery was 11 cents higher at $49.30 after dropping $1.67 on Wednesday to settle below $50 for the first time since April. Meanwhile, Brent crude was trading 2 cents lower, at $56.11 a barrel.
Kingfisher, which owns home improvement retailer B&Q, delivered a solid second-quarter sales performance across all its major businesses, albeit against softer comparatives than in the first quarter, helped by growth in both Britain and France. The stock was trading 1% higher in early trade at 370p per share.
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