U.S. markets finished with little change but remained at record highs for a fifth day. Volatility was low and no economic data was released due to the celebration of a bank holiday, Veterans Day. The U.S. economy is improving and the Dollar has been consistently rising. At session close, the S&P 500 was 0.07% higher at 2,039.68 and the Dow Jones was 0.01% higher at 17,614.90. 77 components of the S&P rose to 52 week intraday highs.
Asian markets climbed across the region. The Nikkei closed 0.43% higher due to speculation that Shinzo Abe may delay the increase of Japan’s sales tax. The last time sales tax was raised to 8%, the economy contracted. This time, tax was supposed to increase to 10% but a delay of this process is seen as positive for the market at this point. The Hang Seng added 0.55% as the market remained optimistic ahead of the start of the trading link between Hong Kong and shanghai next week. This will add exposure to Chinas economy and foreign investors will gain access to over 180 companies in Shanghai.
European markets are lower today as traders became cautious ahead of the inflation report from the Bank of England tomorrow. Sentiment was then after five banks were ordered to pay a sum of $3.3 billion after being accused of rigging exchange rates. Currently, the DAX is down 1.53% while France’s CAC 40 is off 1.37% and London’s FTSE 100 is lower by 0.37%.
November 12, 2014 – Indices News
U.S. markets finished with little change but remained at record highs for a fifth day. Volatility was low and no economic data was released due to the celebration of a bank holiday, Veterans Day. The U.S. economy is improving and the Dollar has been consistently rising. At session close, the S&P 500 was 0.07% higher at 2,039.68 and the Dow Jones was 0.01% higher at 17,614.90. 77 components of the S&P rose to 52 week intraday highs.
Asian markets climbed across the region. The Nikkei closed 0.43% higher due to speculation that Shinzo Abe may delay the increase of Japan’s sales tax. The last time sales tax was raised to 8%, the economy contracted. This time, tax was supposed to increase to 10% but a delay of this process is seen as positive for the market at this point. The Hang Seng added 0.55% as the market remained optimistic ahead of the start of the trading link between Hong Kong and shanghai next week. This will add exposure to Chinas economy and foreign investors will gain access to over 180 companies in Shanghai.
European markets are lower today as traders became cautious ahead of the inflation report from the Bank of England tomorrow. Sentiment was then after five banks were ordered to pay a sum of $3.3 billion after being accused of rigging exchange rates. Currently, the DAX is down 1.53% while France’s CAC 40 is off 1.37% and London’s FTSE 100 is lower by 0.37%.
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