US Indices Close Down as Gaza Conflict Continues, Asian Markets Rebound
July 22, 2014 6:36 am
European stock markets added mild gains on Tuesday following an upbeat session in Asia amid signs that tension over Ukraine’s crisis is easing, although geopolitical tensions in the Middle East remain a source of angst for market participants. EU foreign ministers meet in Brussels today to discuss possible further sanctions against Russia, as rebels in East Ukraine began releasing the bodies killed, according to the Malaysian government. In the meantime, Russia’s Micex Index saw gains early on Tuesday.
Stocks closed lower on Wall Street on Monday with investors remaining on edge as the war in Gaza escalates. Overnight at least five people were killed and 70 injured by Israeli shelling that hit a hospital, according to Palestinian authorities; the Israeli Military said that the strike was intended to hit anti-tank missiles stored nearby. US Secretary of State John Kerry said the US was sending $47million in humanitarian aid to Gaza; the UN says more than 100,000 Gazans have now been displaced. In response to the Middle-East tensions, the S&P 500 closed 4.6 points, or 0.2%, lower at 1,973.63 while the Dow Jones Industrial Average shed 48.45 points, or 0.3%, to 17,051.73.
However, over in Asia stock markets put aside the geopolitical tensions and staged a rebound; the Nikkei 225 closed up by 0.84% and the Hang Seng closed up by 1.71%, with the Shanghai Composite up by 1.02%. In Indonesia, stock inched higher ahead of official results due today from the presidential elections held earlier this month. Unofficial election tallies put Jakarta Governor Joko Widodo on course to become Indonesia’s first leader without ties to the Suharto era.
Looking ahead, investors will be focusing on earnings from both Apple and Microsoft out in the US later in the session.
European stock markets added mild gains on Tuesday following an upbeat session in Asia amid signs that tension over Ukraine’s crisis is easing, although geopolitical tensions in the Middle East remain a source of angst for market participants. EU foreign ministers meet in Brussels today to discuss possible further sanctions against Russia, as rebels in East Ukraine began releasing the bodies killed, according to the Malaysian government. In the meantime, Russia’s Micex Index saw gains early on Tuesday.
Stocks closed lower on Wall Street on Monday with investors remaining on edge as the war in Gaza escalates. Overnight at least five people were killed and 70 injured by Israeli shelling that hit a hospital, according to Palestinian authorities; the Israeli Military said that the strike was intended to hit anti-tank missiles stored nearby. US Secretary of State John Kerry said the US was sending $47million in humanitarian aid to Gaza; the UN says more than 100,000 Gazans have now been displaced. In response to the Middle-East tensions, the S&P 500 closed 4.6 points, or 0.2%, lower at 1,973.63 while the Dow Jones Industrial Average shed 48.45 points, or 0.3%, to 17,051.73.
However, over in Asia stock markets put aside the geopolitical tensions and staged a rebound; the Nikkei 225 closed up by 0.84% and the Hang Seng closed up by 1.71%, with the Shanghai Composite up by 1.02%. In Indonesia, stock inched higher ahead of official results due today from the presidential elections held earlier this month. Unofficial election tallies put Jakarta Governor Joko Widodo on course to become Indonesia’s first leader without ties to the Suharto era.
Looking ahead, investors will be focusing on earnings from both Apple and Microsoft out in the US later in the session.
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