Asian markets are down due to yesterdays worse than expected ISM Manufacturing data coming out of the United States. Though the data still showed an expansion, the extent of growth in the manufacturing sector was below expectations and investors panicked at the prospect of a slow recovery in one of largest export markets for Asian companies. Consequently, the Nikkei closed down 4.18%, the Hang Seng closed down 2.89%, and the ASX 200 closed down 1.75%.
European markets have not changed to much, as losses in the telecommunications were offset by rises in the banking sector. On this note, there has not been a lot of European data today and markets have already reaction to strong data from yesterday. Though there is deflation fears within the Eurozone, this sentiment has not affected indices in a substantial manner yet. So far, the Stoxx 50 is unchanged, the FTSE is down 0.04%, and the DAX is down 0.65%.
American Indices are up today after better than expected US factory orders data – rebounding after a 3 month low yesterday caused by worse than expected ISM Manufacturing data. Orders declined by only 1.5% as opposed to an expected decline of 1.7%. Furthermore, good data earnings data from Yum Brands and a changing of the management at Microsoft helped push US markets up further. At the moment, the Dow is up 0.39%, the S&P 500 is up 0.66%, and the Nasdaq is up 0.73%.
February 4, 2013 – Indices News
Asian markets are down due to yesterdays worse than expected ISM Manufacturing data coming out of the United States. Though the data still showed an expansion, the extent of growth in the manufacturing sector was below expectations and investors panicked at the prospect of a slow recovery in one of largest export markets for Asian companies. Consequently, the Nikkei closed down 4.18%, the Hang Seng closed down 2.89%, and the ASX 200 closed down 1.75%.
European markets have not changed to much, as losses in the telecommunications were offset by rises in the banking sector. On this note, there has not been a lot of European data today and markets have already reaction to strong data from yesterday. Though there is deflation fears within the Eurozone, this sentiment has not affected indices in a substantial manner yet. So far, the Stoxx 50 is unchanged, the FTSE is down 0.04%, and the DAX is down 0.65%.
American Indices are up today after better than expected US factory orders data – rebounding after a 3 month low yesterday caused by worse than expected ISM Manufacturing data. Orders declined by only 1.5% as opposed to an expected decline of 1.7%. Furthermore, good data earnings data from Yum Brands and a changing of the management at Microsoft helped push US markets up further. At the moment, the Dow is up 0.39%, the S&P 500 is up 0.66%, and the Nasdaq is up 0.73%.
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