U.S markets declined as investors continued to speculate that interest rates may be hiked as soon as June. The sentiment caused the Dollar to rally and turned investors away from stocks. In addition, caution appeared in the market as earnings season was set to start. Peter Cardillo, chief market economist at Rockwell Global Capital, commented that “Markets are at high levels and earnings are not going to be great and that can induce a pullback. We would not be surprised to see a pullback up to 8%-10%.” At session close, the S&P 500 was 0.5% lower at 2,092.44 and the Dow Jones was 0.5% lower at 17,977.04. Trades should watch U.S Retail Sales data which will be released today. The figure is expected to show the highest figure since April 2014 and may boost stocks.
Asian markets were mixed today. The Nikkei added 0.02% despite the fact that the Yen declined against the Dollar; the Dollar traded around 119.7 at session close compared to 120.1 at the open. Traders also became hopeful ahead of earnings season as the weaker Yen has boosted exports and boosted the economy. In addition, an advisor to the Japanese Prime Minister indicated that the Yen had weakened enough and showed that it is providing significant support to the economy. Sharp Corp added 5.6%, Toyobo Co added 4.24% and Nippon Kayaku Co added 3.98%. The Hang Seng lost 1.62% and dropped from a 7- year high. Investors appeared to be locking in profit following a strong rally. Traders were also looking ahead to Chinese GDP and Industrial Production data due the next session. China Resources Land lost 6.5%, Galaxy Entertainment Group lost 5.57% and Tencent Holdings lost 5.45%.
European markets are mixed today. The FTSE 100 is up 0.12% but the DAX is down 1.11% and the CAC 40 is down 1.01%. European data was mostly positive; the European Industrial Production climbed by 1.1% when expected to increase by 0.4%. However, focus still remains on Greece as they have yet to reach a bail-out deal with creditors. The government released yesterday that they would withhold 2.5 billion euros worth of payments if no agreement is struck. In the FTSE, Anglo American is up 4.19%, Weir Group is up 3.8% and Rio Tinto is up 2.99%. In the DAX, Commerzbank is down 1.85%, Deutsche Boerse is down 1.33% and Volkswagen is down 1.21%.
April 14, 2015 – Indices News
U.S markets declined as investors continued to speculate that interest rates may be hiked as soon as June. The sentiment caused the Dollar to rally and turned investors away from stocks. In addition, caution appeared in the market as earnings season was set to start. Peter Cardillo, chief market economist at Rockwell Global Capital, commented that “Markets are at high levels and earnings are not going to be great and that can induce a pullback. We would not be surprised to see a pullback up to 8%-10%.” At session close, the S&P 500 was 0.5% lower at 2,092.44 and the Dow Jones was 0.5% lower at 17,977.04. Trades should watch U.S Retail Sales data which will be released today. The figure is expected to show the highest figure since April 2014 and may boost stocks.
Asian markets were mixed today. The Nikkei added 0.02% despite the fact that the Yen declined against the Dollar; the Dollar traded around 119.7 at session close compared to 120.1 at the open. Traders also became hopeful ahead of earnings season as the weaker Yen has boosted exports and boosted the economy. In addition, an advisor to the Japanese Prime Minister indicated that the Yen had weakened enough and showed that it is providing significant support to the economy. Sharp Corp added 5.6%, Toyobo Co added 4.24% and Nippon Kayaku Co added 3.98%. The Hang Seng lost 1.62% and dropped from a 7- year high. Investors appeared to be locking in profit following a strong rally. Traders were also looking ahead to Chinese GDP and Industrial Production data due the next session. China Resources Land lost 6.5%, Galaxy Entertainment Group lost 5.57% and Tencent Holdings lost 5.45%.
European markets are mixed today. The FTSE 100 is up 0.12% but the DAX is down 1.11% and the CAC 40 is down 1.01%. European data was mostly positive; the European Industrial Production climbed by 1.1% when expected to increase by 0.4%. However, focus still remains on Greece as they have yet to reach a bail-out deal with creditors. The government released yesterday that they would withhold 2.5 billion euros worth of payments if no agreement is struck. In the FTSE, Anglo American is up 4.19%, Weir Group is up 3.8% and Rio Tinto is up 2.99%. In the DAX, Commerzbank is down 1.85%, Deutsche Boerse is down 1.33% and Volkswagen is down 1.21%.
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