US Indices Enjoy Late Surge, AUD Sees New Five-Year Low, Gold Down by 2% Overnight
January 30, 2015 7:00 am
Asian shares wavered between positive and negative territory on Friday, as a late earnings-led surge on Wall Street helped counter persistent concerns over global growth and sagging Chinese shares. U.S. stocks enjoyed a late afternoon rally and closed higher on Thursday as an upturn in oil prices and a rally in Apple and Boeing shares helped offset some disappointing earnings and lingering questions over U.S. monetary policy. The Dow rose 225 points to close at 17,416, while the S&P500 gained 19 points to close at 2,021.
The Euro added about 0.2% to $1.1337, moving further away from this week’s 11-year low of $1.109. The U.S. Dollar slipped against its Japanese counterpart, losing about 0.4% to 117.83 Yen. Expectations of further easing from the Reserve Bank of Australia sent the Australian dollar slumping to its lowest in over five years this week, with the Aussie falling as low as $0.7720. It was last up about 0.2% on the day at $0.7777.
Spot gold was up about 0.2% at $1,259.10 an ounce after falling more than 2% to a two-week low overnight on concerns over a looming increase in U.S. interest rates. Gold is still on track to post its biggest monthly gain in almost a year. U.S. crude edged down to $44.50 a barrel, moving back toward a nearly six-year low touched overnight on data that showed a rise in already record-high U.S. oil inventories.
Within the equity space Vedanta Resources Plc’s third-quarter core earnings fell 11% and the mining conglomerate said it was reviewing its operating and capital spending plans across its businesses. The stock was surprisingly trading up by 3% at 381p per share in early trade.
Asian shares wavered between positive and negative territory on Friday, as a late earnings-led surge on Wall Street helped counter persistent concerns over global growth and sagging Chinese shares. U.S. stocks enjoyed a late afternoon rally and closed higher on Thursday as an upturn in oil prices and a rally in Apple and Boeing shares helped offset some disappointing earnings and lingering questions over U.S. monetary policy. The Dow rose 225 points to close at 17,416, while the S&P500 gained 19 points to close at 2,021.
The Euro added about 0.2% to $1.1337, moving further away from this week’s 11-year low of $1.109. The U.S. Dollar slipped against its Japanese counterpart, losing about 0.4% to 117.83 Yen. Expectations of further easing from the Reserve Bank of Australia sent the Australian dollar slumping to its lowest in over five years this week, with the Aussie falling as low as $0.7720. It was last up about 0.2% on the day at $0.7777.
Spot gold was up about 0.2% at $1,259.10 an ounce after falling more than 2% to a two-week low overnight on concerns over a looming increase in U.S. interest rates. Gold is still on track to post its biggest monthly gain in almost a year. U.S. crude edged down to $44.50 a barrel, moving back toward a nearly six-year low touched overnight on data that showed a rise in already record-high U.S. oil inventories.
Within the equity space Vedanta Resources Plc’s third-quarter core earnings fell 11% and the mining conglomerate said it was reviewing its operating and capital spending plans across its businesses. The stock was surprisingly trading up by 3% at 381p per share in early trade.
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