Giving you all the latest in Stock Market Information as it happens
 

Month: May 2013

Morning Market Update: Where to?

Global markets slumped overnight with significant losers recorded on both sides of the Atlantic.

European stocks fell on concern that the U.S. Federal Reserve will reduce debt purchases as the world’s biggest economy strengthens. In London, the FTSE 100 tumbled 135 points (-2%) to settle at 6627, while the German DAX shed 144 points (-1.7%) to finish the session at 8337.

U.S. stocks fell, with the blue-chip Dow Jones retreating from a record high amid concern that the Federal Reserve could begin to taper its debt-buying program as the economy continues to improve.

The S&P 500 dropped 12 points (-0.7%) to finish at 1648 in New York while the Dow retreated 107 points (-0.7%) to close at 15303.

Gold futures advanced for the first time in three sessions as lower prices lured buyers of the physical metal. Silver also gained. Gold futures for August delivery climbed 0.9% to settle at $1391.8 an ounce on the Comex in New York.

Crude oil fell to a four-week low on concern that the Federal Reserve will cut debt purchases as the economy of the world’s biggest oil-consuming nation strengthens.

Oil for July delivery slid $1.9 to $93.10 a barrel on the New York Mercantile Exchange, the lowest settlement since May 1.

The yen strengthened against all except one of its 16 most-traded counterparts as investors sought refuge amid a drop in risk appetite that sent stocks and commodities lower.

Building Approvals and Private Capital Expenditure data will be released by the Australian Bureau of Statistics today at 11:30 am.

 

Morning Market Update: Where to? is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Quiet Session Ahead

While U.S. and U.K markets enjoyed an extended holiday break overnight, the rest of the global markets bounced back to start the week in the green.

European stocks rose, rebounding from their first weekly loss in more than a month, as carmakers and technology companies gained. The Stoxx 600 Index climbed 0.3% to 304.3 at the close of trading. The German DAX gained a solid 78 points (+0.9%) to finish at 8383.

Crude oil for July delivery dropped for a fifth session – the longest run of declines this year – to $93.70 a barrel in New York, as China signaled it may accept a slower economic growth rate.

Gold rose, extending gains after the best week in a month, as International Monetary Fund data showed that Russia and Kazakhstan expanded gold reserves for the seventh straight month in April. Gold for immediate delivery advanced to $1394.8 an ounce.

The yen strengthened for a third session against the U.S. dollar amid concern that the Bank of Japan is struggling to control a jump in government bond yields.

The currency rose 0.2% to 101.1 per dollar in New York after jumping 1.9% last week. There is no major local economic data due out during today’s session.

Morning Market Update: Quiet Session Ahead is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Calmer Start Expected

After a very volatile period for global markets it was once again up to U.S. markets to steady the ship on Friday night. European markets continued their recent slide, helping to lock in their first collective weekly loss in more than a month.

In London, the FTSE 100 dropped 42 points (-0.6%) to finish the session at 6654 while the German DAX lost 47 points (-0.6%) to finish off at 8305. In the U.S, the S&P 500 lost one point (-0.1%) to finish the session at 1650 while the blue-chip Dow Jones added nine points (+0.1%) to finish at 15303.

Crude oil had its biggest weekly drop in more than a month amid signs of rising U.S. oil inventories and a global economic slowdown. Oil futures slid by as much as 1% in New York.

Gold also lost ground, with bullion shedding 0.4% to settle at US$1388 an ounce.

The yen maintained gains versus the US dollar after its biggest weekly rally in a year amid speculation the U.S. Federal Reserve will reduce stimulus that spurred declines in riskier assets that may have risen too fast.

There is no major local economic data due out during today’s session.

Morning Market Update: Calmer Start Expected is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Europe Solid US Weaker

It was another tale of two halves overnight, with solid gains in Europe countered by weakness in the US.

Overall, European stocks were little changed near a five-year high after Federal Reserve Chairman Ben S. Bernanke signalled the central bank will maintain stimulus measures to support the U.S. economic recovery.

In London, the FTSE 100 added 36 points (+0.5%) to close at 6840 while the German DAX gained 59 points (+0.7%) to finish at 8531. U.S. stocks fell, with benchmark indices retreating from record highs, as concern grew that the Federal Reserve will scale back its stimulus efforts if the labor market continues to improve.

The S&P 500 dropped 14 points (-0.8%) to close at 1655 in New York, after rallying as much as 1.1% earlier. The blue chip Dow Jones lost 80 points (-0.5%) close at 15307.

Gold futures closed lower following wide prices swings as Federal Reserve Chairman Ben S. Bernanke signaled that U.S. monetary stimulus may be scaled back. Bullion for June delivery dropped 0.7% to close at US$1367 an ounce on the Comex in New York.

Crude Oil fell the most in three weeks as a government report showed U.S. gasoline supplies unexpectedly advanced 3 million barrels and crude stockpiles declined less than expected.

The US dollar rose against most major peers after Federal Reserve Chairman Ben S. Bernanke said the central bank may taper monthly bond purchases at its next few meetings if it’s confident of sustained gains in the economy.

The pound fell to a one-month low against the euro after a government report showed U.K. retail sales unexpectedly declined last month. The Melbourne Institute Inflation Expectations report will be released today at 11:00 am.

Morning Market Update: Europe Solid US Weaker is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Quiet Overnight

Global markets were mixed overnight, with gains in Europe countered by losses in the US.

European stocks advanced on the back of strength in carmakers and Ryanair Holdings, which jumped the most in more than 1 1/2 years as Europe’s largest low-cost carrier said full-year profit rose 13%.

In London, the FTSE 100 gained 33 points (+0.5%) to settle at 6756 while the German DAX gained 58 points (+0.7%) to finish at 8456.

U.S. stocks declined as investors weighed the pace of central bank stimulus efforts amid corporate dealmaking.

The S&P 500 retreated by one point (-0.1 %) to settle at 1,666 after rising as much as 0.3% earlier. The blue chip Dow Jones declined by 19 points (-0.1%) to settle at 15335.

Gold futures rebounded after Moody’s said U.S. policy makers must address debt woes to avoid a credit-rating downgrade this year.

Crude Oil futures declined as much as 0.8% in New York as U.S. equity indexes were little changed. Oil for June delivery fell 51 cents to $95.51 a barrel on the New York Mercantile Exchange.

The yen gained the most in three weeks against the greenback as Japanese Economy Minister Akira Amari said further losses in the currency would have negative effects after it fell to the lowest since 2008 last week.

Today’s session will bring us the latest RBA Monetary Policy Meeting Minutes, at 11:30am this morning. The minutes will likely provide some clues as to the future direction of interest rates in Australia.

Morning Market Update: Quiet Overnight is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Positive Start To The Week

Global markets finished a little stronger on Friday night, with gains seen in both Europe and the US. In London, the FTSE 100 gained 35 points (+0.5%) to finish at 6723 while the German DAX added 28 (+0.3%) points to close at 8398.

US markets closed out the week with a strong gain on Friday night, with the Dow and S&P500 posting fresh record highs amid positive economic data.

US consumer confidence rose in May rose to its highest level in almost six years, as Americans felt better about their financial prospects despite concerns over budget cuts and the impact of a slowing manufacturing sector.

The data fuelled weekly gains of between one and a half and two percent for the major US indices, as investors bet economic growth will remain resilient in the face of ongoing global uncertainty.

It was a mixed performance among the key commodities. Oil strengthened on speculation the jump in US consumer confidence will translate into greater energy demand.

Oil for June delivery rose 86 cents to $96.02 a barrel on the New York Mercantile Exchange, the highest settlement since May 10.

However, gold suffered another sell-off on rumours US hedge funds are liquidating bullion holdings ahead of a planned end to the Fed’s monetary easing measures.

The potential end to quantitative easing saw the US dollar record widespread gains against other currencies, including the Aussie, which slumped to below 97 US cents – its lowest against the greenback in almost a year.

The yen climbed versus all 16 major peers after Japanese Economy Minister Akira Amari said further losses in the currency would threaten to negatively affect people and the government’s job is to minimize that.

There is no major data due our during today’s session.

Morning Market Update: Positive Start To The Week is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Weaker Overnight

Global markets finished slightly weaker overnight, with the international bulls taking a breather after a recent string of gains. European stocks were little changed, after the benchmark Stoxx Europe 600 Index yesterday extended its highest level since June 2008.

In London the UK’s FTSE 100 gave up six points (-0.1%) to settle at 6688, whilst the German DAX put on seven points (+0.1%) to 8370.

U.S. stocks fell, ending four sessions of records for the S&P 500 Index, amid disappointing economic data and after a Federal Reserve official said the central bank may slow the pace of stimulus as early as this summer.

Reports today suggested a slowdown in U.S. economic growth. Jobless claims jumped by 32,000 to 360,000 in the week ended May 11, the most since the end of March, Labor Department figures showed.

Housing starts slumped 16.5 percent in April, the most since February 2011, the Commerce Department reported.

Manufacturing in the Philadelphia region unexpectedly contracted in May for the first time in three months as new orders retreated and factories cut back on employment and hours.

Another report showed the cost of living in the U.S. fell in April for a second month, the first back-to-back declines in inflation since late 2008. There is no major local economic data due out for today’s session.

Gold futures fell, capping the longest slump in 16 months, as U.S. filings showed that George Soros and BlackRock cut stakes in exchange-traded products backed by the metal, signaling waning investment demand.

Gold futures for June delivery dropped 0.7% to close at $1,386.90 on the Comex in New York. Crude rose on speculation that central banks will bolster stimulus after more Americans than projected filed for unemployment benefits and U.S. consumer prices decreased.

Oil for June delivery advanced 86 cents to settle at $95.16 a barrel on the New York Mercantile Exchange. There is no major local economic data due out during today’s session.

Morning Market Update: Weaker Overnight is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: International Bulls Continue To Run

Global markets continued their run higher overnight.

European stocks rose, extending their highest level since June 2008, after the Bank of England raised its growth forecast for Europe’s third-biggest economy. In London the UK’s FTSE 100 added seven points (+0.1%) to settle at 6694, whilst the German DAX put on 23 points (+0.3%) to close at 8362.

Stateside, stocks rose and pushed benchmark indexes to fresh records, as data showing weakness in manufacturing fuelled bets the Federal Reserve will be in no hurry to scale back stimulus.

U.S. industrial production declined in April by the most in eight months, reflecting broad-based cutbacks in factory output and indicating American manufacturers will provide little support for an economy beset by weaker global markets and federal budget cuts.

Manufacturing in the New York region unexpectedly shrank in May as factories received fewer orders and sales stagnated, a separate report showed.

Data from the Labor Department showed wholesale prices dropped in April by the most in three years, reflecting a decrease in fuel costs that is helping underpin profits.

Gold futures tumbled below $1,400 an ounce, extending the longest slump in almost three months, as the dollar’s rally eroded demand for the metal as an alternative investment. Silver fell to a three-week low.

Gold futures for June delivery fell 2% to settle at $1,396.20 on the Comex in New York, after touching $1,389, the lowest for a most-active contract since April 19.

Crude was little changed as equities gained on speculation of central-bank stimulus measures after economic reports from the U.S. and Europe missed forecasts. Oil for June delivery settled at $94.30 a barrel on the New York Mercantile Exchange, the first advance in five days.

There is no major local economic data due out during today’s session.

Morning Market Update: International Bulls Continue To Run is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Another Quiet Night

Global markets were little changed overnight, with minimal moves recorded on either side of the Atlantic.

European stocks declined from the highest level in almost five years as bank and airline shares retreated, overshadowing better-than-forecast retail sales data in the U.S.

Most U.S. stocks fell, after benchmark indexes climbed to record levels last week, even as government data showed retail sales unexpectedly rose in April.

The S&P rose less than one point to 1,634, whilst the Dow slid 27 points (+0.2%), to 15,092. The 0.1% increase in U.S. retail sales followed a 0.5% decline in March, Commerce Department figures showed today in Washington. The median forecast of economists surveyed by Bloomberg called for a 0.3% drop.

A separate report showed companies in the U.S. unexpectedly held inventories in check in March as sales fell by the most in nine months, an indication orders will rise as demand picks up.

Gold futures fell, capping the longest slump in five weeks, as holdings in exchange-traded products backed by the metal extended a decline to the lowest since July 2011.

Gold futures for June delivery dropped 0.2% to settle at $1,434.30 an ounce on the Comex in New York. The price declined for the third straight session, the longest slump since April 4. The metal has tumbled 14% this year.

Oil fell for a third session as China’s crude processing reached the lowest level in eight months in April and OPEC boosted output. Oil for June delivery fell 87 cents to settle at $95.17 a barrel on the New York Mercantile Exchange.

There is no major local economic data slated for release today.

Morning Market Update: Another Quiet Night is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Bulls Extending Gains

Global markets extended gains overnight, with further gains seen on both sides of the Atlantic.

European stocks climbed, with the Stoxx Europe 600 Index extending its highest level since June 2008, as companies from ING to Deutsche Telekom posted quarterly earnings that beat estimates.

In London the UK’s FTSE 100 added 26 points (+0.4%) to settle at 6583, whilst the German DAX put on 68 points (+0.8%) to finish at 8250. US stocks rose, sending the S&P 500 Index to a record for a fifth session, amid better-than-projected earnings forecasts.

The S&P rose 0.4% to 1,633, whilst the Dow added 49 points (+0.3%) to 15,105.

Crude rose to a one-month high after supplies fell at Cushing, Oklahoma, the delivery point for the contract. Oil for June delivery increased $1 to $96.62 a barrel on the New York Mercantile Exchange, the highest settlement since April 2.

Gold futures posted the biggest gain in almost two weeks as demand for bars and jewellery increased in India and China, the world’s largest consumers of the metal.

Bullion for June delivery advanced 1.7% to settle at $1,473.70 an ounce on the Comex in New York, the biggest gain for a most-active contract since April 25.

The euro rallied the most in three weeks against the dollar as German industrial production unexpectedly rose for a second month in March, a sign that Europe’s largest economy may be returning to growth.

Today’s session will bring us important data in the form of the latest employment numbers and the unemployment rate, at 11:30am, AEST. There is also Chinese CPI and PPI data due out at 11:30am, which could have a big impact on our market.

Morning Market Update: Bulls Extending Gains is a post from: Australian Stock Report Market Pulse Blog

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