US Markets End in Negative Territory, Porsche CEO is Poised to be New Volkswagen CEO
September 25, 2015 5:51 am
After a volatile session US markets ended in negative territory due to uncertainty over timing of an interest rate hike and Caterpillar cut its sales forecasts and investors retreated from Healthcare stocks. Asian markets were mixed with the Shanghai composite down 1.6% in the red after Janet Yellen suggested that the Fed is on course to raise interest rates this year.
The euro dropped 0.5% to $1.1172 from around $1.1230 while the dollar climbed 0.1% at 120.15 yen, from around 120.00 yen before Yellen’s speech.
Crude oil futures held on to overnight gains after rising as much as 1% after an estimate of inventory draws at a key U.S. delivery hub. U.S. crude was up 0.1% at $44.96 a barrel, while Brent was slightly up at $48.19. Spot Gold was trading at $1145 per troy ounce.
Within the equity space Volkswagen Is poised to name Matthias Müller, the 62-year-old head of its sports car brand Porsche, as chief executive of the entire company, amid the widening emissions scandal. Volkswagen stocks is up 2% in early trade at 12110cents per share, rebounded from the 32% drop that it suffered when it was caught manipulating emissions tests on Monday.
After a volatile session US markets ended in negative territory due to uncertainty over timing of an interest rate hike and Caterpillar cut its sales forecasts and investors retreated from Healthcare stocks. Asian markets were mixed with the Shanghai composite down 1.6% in the red after Janet Yellen suggested that the Fed is on course to raise interest rates this year.
The euro dropped 0.5% to $1.1172 from around $1.1230 while the dollar climbed 0.1% at 120.15 yen, from around 120.00 yen before Yellen’s speech.
Crude oil futures held on to overnight gains after rising as much as 1% after an estimate of inventory draws at a key U.S. delivery hub. U.S. crude was up 0.1% at $44.96 a barrel, while Brent was slightly up at $48.19. Spot Gold was trading at $1145 per troy ounce.
Within the equity space Volkswagen Is poised to name Matthias Müller, the 62-year-old head of its sports car brand Porsche, as chief executive of the entire company, amid the widening emissions scandal. Volkswagen stocks is up 2% in early trade at 12110cents per share, rebounded from the 32% drop that it suffered when it was caught manipulating emissions tests on Monday.
Related Posts: