U.S. markets continued to climb reaching record levels once again. With volatility declining and fewer events to spur the market, traders continued to trade with the FOMC statement in mind. The Federal Reserve offered an optimistic view of the economy and sparked speculation that interest rates could be hiked as soon as April 2015. However, Yellen ensured the report was balanced and affirmed that the Fed would be ‘patient’ with any changes. Energy shares also gained from rising oil prices. At session close, the S&P 500 was 0.38% higher at 2,078.54. This was its 50th record close of the year and the index hasn’t reached so many records since 1995. The Dow Jones closed 0.87% higher at 17,959.44, a 35th record for the year. Intel Corp rose 2.31%, Cisco Systems rose 1.62% and Boeing rose 1.58%.
Asian markets declined today. The Nikkei remained closed for the ‘Emperor’s Birthday’, thus remaining at 17,635.14. The Hang Seng lost 0.32% and the Shanghai Composite lost 3.03% due to reports or a potential stock price manipulation. Traders also locked in profit following a recent surge. Financial and energy shares posted the biggest declines in the Hang Seng; China Merchants Holdings International dropped 2.11%, Bank of China dropped 2.08%, China Construction Bank dropped 1.74% and China Shenhua Energy Co dropped 1.71%.
European markets are higher today following the release of positive Consumer Spending data from France. Currently the CAC 40 is up 0.76% and the DAX is up 0.23%. The FTSE 100 is up 0.42% despite a batch of negative data, including GDP, Current account and mortgage approvals. Supermarkets are leading the increase with Morrison climbing 2.39% and Tesco climbing 2.38%. Greece failed to elect a new President at a second round of voting which is weakening the Euro. Another vote is scheduled for December 29 and if it fails, elections could be called in January. Investors worry that the Syriza party could take power raising concerns regarding the bailout and membership in the Eurozone.
December 23, 2014 – Indices News
U.S. markets continued to climb reaching record levels once again. With volatility declining and fewer events to spur the market, traders continued to trade with the FOMC statement in mind. The Federal Reserve offered an optimistic view of the economy and sparked speculation that interest rates could be hiked as soon as April 2015. However, Yellen ensured the report was balanced and affirmed that the Fed would be ‘patient’ with any changes. Energy shares also gained from rising oil prices. At session close, the S&P 500 was 0.38% higher at 2,078.54. This was its 50th record close of the year and the index hasn’t reached so many records since 1995. The Dow Jones closed 0.87% higher at 17,959.44, a 35th record for the year. Intel Corp rose 2.31%, Cisco Systems rose 1.62% and Boeing rose 1.58%.
Asian markets declined today. The Nikkei remained closed for the ‘Emperor’s Birthday’, thus remaining at 17,635.14. The Hang Seng lost 0.32% and the Shanghai Composite lost 3.03% due to reports or a potential stock price manipulation. Traders also locked in profit following a recent surge. Financial and energy shares posted the biggest declines in the Hang Seng; China Merchants Holdings International dropped 2.11%, Bank of China dropped 2.08%, China Construction Bank dropped 1.74% and China Shenhua Energy Co dropped 1.71%.
European markets are higher today following the release of positive Consumer Spending data from France. Currently the CAC 40 is up 0.76% and the DAX is up 0.23%. The FTSE 100 is up 0.42% despite a batch of negative data, including GDP, Current account and mortgage approvals. Supermarkets are leading the increase with Morrison climbing 2.39% and Tesco climbing 2.38%. Greece failed to elect a new President at a second round of voting which is weakening the Euro. Another vote is scheduled for December 29 and if it fails, elections could be called in January. Investors worry that the Syriza party could take power raising concerns regarding the bailout and membership in the Eurozone.
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