US Stocks End 5 Day Losing Streak, An Interesting Night for Twitter Shares
July 29, 2015 7:02 am
Chinese indices closed up this morning, bolstered by the hope that Chinese central bank would take further steps to try and rectify the problems in its markets whilst trying to protect its economy. Meanwhile, in the US stocks snapped a five day losing streak as attention moved away from recent fluctuations in China to focus further on both corporate earnings and the Fed meeting due later today. The Dow rose 1.09% to close at 17,630, the S&P500 gained 1.2% to finish the session at 2093.
The Dollar slipped 0.1% to 123.49 Yen but was still trading above its two week low of 123.01 which was touched earlier in the week. The Euro failed to reach Monday’s two week high trading around the $1.1060 level. AUD, which recently which recently saw a six year low of $0.7257, eased 0.2% to trade at $0.7322.
Brent futures were down 24 cents at $53.06 a barrel and near their lowest since February. U.S. crude futures slipped 22 cents to $47.76 a barrel.
Within the equity space Barclays reported first half results that showed an 11% increase in adjusted profit before tax, as it set aside a further £1.6bn provision for further litigation and mis-selling after paying £1.6bn in the period. The bank continues to be dogged by problems after the Chairman who arrived in April fired the CEO of the bank earlier this month, intimating that his turnaround plan was taking too long. Barclays results were well received by the market with the stock up 1.6% in early trade at 285p per share.
A number of big-name companies released their results yesterday, one of which was Twitter. Originally the share price jumped in after hours trading after the firm surprised naysayers by beating the somewhat pessimistic expectations. However, subsequent comments about a rapid slowdown in user growth sent the share price right back down again, with after-hours trading seeing it fall by 11.4%.
Chinese indices closed up this morning, bolstered by the hope that Chinese central bank would take further steps to try and rectify the problems in its markets whilst trying to protect its economy. Meanwhile, in the US stocks snapped a five day losing streak as attention moved away from recent fluctuations in China to focus further on both corporate earnings and the Fed meeting due later today. The Dow rose 1.09% to close at 17,630, the S&P500 gained 1.2% to finish the session at 2093.
The Dollar slipped 0.1% to 123.49 Yen but was still trading above its two week low of 123.01 which was touched earlier in the week. The Euro failed to reach Monday’s two week high trading around the $1.1060 level. AUD, which recently which recently saw a six year low of $0.7257, eased 0.2% to trade at $0.7322.
Brent futures were down 24 cents at $53.06 a barrel and near their lowest since February. U.S. crude futures slipped 22 cents to $47.76 a barrel.
Within the equity space Barclays reported first half results that showed an 11% increase in adjusted profit before tax, as it set aside a further £1.6bn provision for further litigation and mis-selling after paying £1.6bn in the period. The bank continues to be dogged by problems after the Chairman who arrived in April fired the CEO of the bank earlier this month, intimating that his turnaround plan was taking too long. Barclays results were well received by the market with the stock up 1.6% in early trade at 285p per share.
A number of big-name companies released their results yesterday, one of which was Twitter. Originally the share price jumped in after hours trading after the firm surprised naysayers by beating the somewhat pessimistic expectations. However, subsequent comments about a rapid slowdown in user growth sent the share price right back down again, with after-hours trading seeing it fall by 11.4%.
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