U.S markets closed at record levels on Friday as traders continue to react to stronger than expected quarterly earnings. Investors shrugged off Friday’s mixed data; Core Durable Goods Orders, which were predicted to climb by 0.3%, declined by 0.2% but Durable Goods Orders surprised and climbed by 4%, much above the expected 0.6% change. At session close the S&P 500 was 0.2% higher at 2,117.7 and the Dow Jones was 0.1% higher at 18,080.14. The Nasdaq was 0.7% higher and posted its strongest weekly gain since October 2014. Nicholas Colas, chief market strategist at global brokerage Convergex, was quoted on MarketWatch as saying that “The new highs on Nasdaq are impressive because of how much conviction there is — it was not an accidental rally. Today’s follow-through suggests there is genuine confidence among investors, who are comfortable with current valuations.” Amazon added 14% after unveiling details of its cloud computing business, Microsoft added 10% after strong earnings and Starbucks added 4.9% after posting an 18% jump in revenue.
Asian markets were mixed today. The Nikkei lost 0.18% as the Dollar traded lower against the Yen following a batch of weak data. Investors also became cautious due to earnings season and locked in profit ahead of Japan’s Golden Week holiday later this month. Shiseido Co lost 4.95%, Mitsubishi Motors lost 4.13% and Sumitomo Dainippon Pharma Co lost 3.57%. The Hang Seng added 1.35% as it rallied on reports of HSBC selling its UK unit for 20 billion pounds. China Petroleum & Chemical Corp added 7.16%, PetroChina Co added 6.72%, Kunlun Energy added 4.75% and HSBC Holdings added 3.59%.
European markets are higher today. Markets are being led by news that HSBC is not only considering moving its headquarters from the U.K but could also sell it for 20 billion pounds. Currently, the FTSE 100 is 0.35% higher, the DAX is 1% higher and the CAC 40 is 0.56% higher. In the FTSE, HSBC Holdings is up 3.08%, Standard Chartered is up 2.99% and Whitbread is up 2.06%. In the DAX, Deutsche Lufthansa is up 4.08%, Volkswagen is up 3.71% and Daimler is up 2.28%.
April 27, 2015 – Indices News
U.S markets closed at record levels on Friday as traders continue to react to stronger than expected quarterly earnings. Investors shrugged off Friday’s mixed data; Core Durable Goods Orders, which were predicted to climb by 0.3%, declined by 0.2% but Durable Goods Orders surprised and climbed by 4%, much above the expected 0.6% change. At session close the S&P 500 was 0.2% higher at 2,117.7 and the Dow Jones was 0.1% higher at 18,080.14. The Nasdaq was 0.7% higher and posted its strongest weekly gain since October 2014. Nicholas Colas, chief market strategist at global brokerage Convergex, was quoted on MarketWatch as saying that “The new highs on Nasdaq are impressive because of how much conviction there is — it was not an accidental rally. Today’s follow-through suggests there is genuine confidence among investors, who are comfortable with current valuations.” Amazon added 14% after unveiling details of its cloud computing business, Microsoft added 10% after strong earnings and Starbucks added 4.9% after posting an 18% jump in revenue.
Asian markets were mixed today. The Nikkei lost 0.18% as the Dollar traded lower against the Yen following a batch of weak data. Investors also became cautious due to earnings season and locked in profit ahead of Japan’s Golden Week holiday later this month. Shiseido Co lost 4.95%, Mitsubishi Motors lost 4.13% and Sumitomo Dainippon Pharma Co lost 3.57%. The Hang Seng added 1.35% as it rallied on reports of HSBC selling its UK unit for 20 billion pounds. China Petroleum & Chemical Corp added 7.16%, PetroChina Co added 6.72%, Kunlun Energy added 4.75% and HSBC Holdings added 3.59%.
European markets are higher today. Markets are being led by news that HSBC is not only considering moving its headquarters from the U.K but could also sell it for 20 billion pounds. Currently, the FTSE 100 is 0.35% higher, the DAX is 1% higher and the CAC 40 is 0.56% higher. In the FTSE, HSBC Holdings is up 3.08%, Standard Chartered is up 2.99% and Whitbread is up 2.06%. In the DAX, Deutsche Lufthansa is up 4.08%, Volkswagen is up 3.71% and Daimler is up 2.28%.
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