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

Month: June 2013

Morning Market Update: EOFY

Optimism in the U.S sent global markets higher overnight, as economic news from the world’s largest economy topped expectations.

European stocks climbed for a third session, the longest winning streak for the Stoxx 600 in five weeks, as a report showed that U.S. consumer spending rebounded last month. The Stoxx 600 climbed 0.7% to 286.4 at the close after earlier declining as much as 0.3%.

In London, the FTSE 100 added 78 points (+1.3%) to close at 6243, while the German DAX put on 50 points (+0.6%) to finish at 7991.

In the U.S. the S&P 500 locked in its biggest three-session rally since January, on better-than-estimated economic data and assurances on stimulus efforts from Federal Reserve officials.

The S&P 500 advanced 10 points (+0.6%) to 1,613, while the Dow Jones tacked on 114 points (+0.8%) to settle at 15,024.

Consumer spending in the U.S. rebounded in May following the largest drop in more than three years. Household purchases, which account for about 70% of the economy, rose 0.3% after a 0.3% decline the prior month. Incomes advanced 0.5% – more than projected.

Fed Bank of New York President William C. Dudley said in New York that the central bank may prolong its asset-purchase program if the economy’s performance fails to meet its forecasts.

Gold futures tumbled below $1,200 an ounce at one point, extending a slump to a 34-month low, as U.S. economic data topped estimates by analysts, eroding the metal’s appeal as a store of value.

Gold recovered slightly off its lows to close 1.5% weaker, at $1,211.60 on the Comex in New York.

Crude oil climbed for a fourth session as U.S. refiners boosted crude processing to the highest rate this year and industrial profits increased in China, the world’s second-largest oil consumer.

Crude for August delivery rose as much as 64 cents to $96.14 a barrel in electronic trading on the New York Mercantile Exchange.

The yen fell against all 16 of its major peers as Federal Reserve officials’ statements that the economic recovery isn’t strong enough to start tapering bond-buying boosted speculation that Japan’s currency will be more responsive to the country’s own stimulus efforts.

The Reserve Bank of Australia will release its monthly Private Sector Credit Report today at 11:30 am.

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

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Morning Market Update: US Rallies Overnight

Global markets rallied overnight following a U.S. report that economic growth was smaller than originally estimated eased concerns about the Federal Reserve pulling back on its stimulus program.

European stocks advanced as China’s cash crunch eased and German consumer confidence topped forecasts.

In addition to this, the European Central Bank President Mario Draghi said they’ll maintain a loose monetary stance for as long as needed, while urging euro area governments to cut their deficits and boost investment.

The Stoxx 600 made its biggest two-day gain in almost 11 months, soaring 1.7% to 284.5 at the close of trading. In London, the FTSE 100 climbed by 64 points (+1%) to settle at 6,165 while the German DAX put on 130 points (+1.7%) to close at 7,941.

U.S. stocks rose, sending the S&P 500 higher for a second day, as China’s cash crunch eased and slower-than-forecast economic growth fueled speculation the Federal Reserve will maintain stimulus.

Growth in the world’s largest economy was less than originally estimated in the first quarter as an increase in the U.S. payroll tax took a bigger bite out of consumer spending than previously calculated.

The S&P 500 increased 15 points (+1%) to 1,603, a rally of 1.9% over two days, after slumping to a nine-week low on June 24. The Dow climbed 150 points (+1%) to 14,910.

Gold plunged to a 34-month low and is set for a record quarterly drop, as improving U.S. economic data strengthened the case for the Federal Reserve to reduce stimulus.

Bullion futures for August delivery dropped 3.6% to settle at $1,229.80 on the Comex in New York.

Crude oil rose for a third session, advancing with equities on speculation the Federal Reserve will maintain stimulus after a report showed slower-than-estimated economic growth. Crude for August delivery rose by 18 cents to $95.50 a barrel on the New York Mercantile Exchange.

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

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

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Morning Market Update: US Data Provides A Boost

Global markets rebounded overnight as strong economic news from the U.S. showed that the world’s leading economy is on the rise.

European stocks climbed from a six-month low as the People’s Bank of China dispelled concern over a cash crunch in China, and as U.S. data on durable goods, new-home sales and confidence increased more than economists had projected.

The Stoxx 600 increased by 1.5% to 279.7 at the close of trading, its biggest gain in two months. In London, the FTSE 100 added 73 points (+1.2%) to close at 6,102 while the German DAX gained 119 points (+1.6%) to settle at 7,811.

U.S. stocks rose, as the S&P 500 rebounded from a nine-week low, after data showed durable-goods orders and home sales increased more than forecast and consumer confidence climbed.

The S&P 500 added 15 points (+1%) to 1,588 in New York. The Dow Jones rose 101 points (+0.7%) to settle at 14,760.

The Conference Board’s index of U.S. consumer confidence increased to 81.4 in June from 74.3 a month earlier. Another report showed bookings for U.S. goods meant to last at least three years climbed 3.6% for a second month, topping economist forecasts.

In addition, new U.S. homes climbed more than forecast in May to the highest level in almost five years, while home prices increased more than forecast in the 12 months through April.

Crude oil rose for a second session as U.S. durable goods orders gained more than forecast in May and on expectations that crude stockpiles fell last week.

Oil for August delivery settled at $95.32 a barrel on the New York Mercantile Exchange.

Gold slid for a second straight session as signs of improving U.S. economic growth boosted speculation that the Federal Reserve will end its stimulus program. Gold futures for August delivery slipped 0.2% to settle at $1,275.10 an ounce on the Comex in New York.

The yen strengthened from near a two-week low against the US dollar as speculation a cash crunch in China will curb the nation’s economic growth supported demand for the relative safety of the Japanese currency.

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

Morning Market Update: US Data Provides A Boost is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Late Squeeze Trims Losses

Global markets slumped overnight as concerns about a slowing Chinese economy continue to weigh on investor decisions.

European stocks fell for a fifth day, erasing their gains for the year, as Goldman Sachs cut China’s growth forecast amid concern banks in the world’s second-largest economy face a cash crunch.

The Stoxx 600 declined 1.7% to 276 at the close of the trading session in London.

The FTSE 100 lost 87 points (-1.4%) to close trading at 6,029 while the German DAX shed 97 points (-1.2%) to settle at 7,692.

US stocks also fell, sending the S&P 500 to a nine-week low. On top of Chinese credit fears, investors were also still digesting the impact of a possible reduction in the Federal Reserve’s monetary stimulus.

The S&P 500 fell by 19 points (-1.2%) to finish at 1,573 in New York, the lowest since April 22. The blue-chip Dow Jones slipped 140 points (-0.9%) to settle at 14,660.

Gold fell in New York as prospects that the Federal Reserve will reduce monetary stimulus curbed demand for the metal as a protection of wealth.

Gold futures for August delivery declined 1.2% to settle at $1,277.10.

Crude oil gained for the first time in four days after three pipelines in Alberta, Canada were shut because of flooding. Crude oil for August delivery rose by $1.49 to settle at $95.18 a barrel.

The U.S. Dollar Index rose to a two-week high as investors fled higher-yielding currencies in favor of the relative safety of dollar-denominated assets. There is no major local economic data due to be released during today’s session.

 

Morning Market Update: Late Squeeze Trims Losses is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Tumultuous Week Behind Us

Global markets endured a horror week last week, after the Fed signaled a reduction in its market stimulus program. However, there was some light at the end of the tunnel with U.S. markets firming on Friday night.

European stocks posted the biggest weekly slide in 13 months as Bernanke said the Fed may pare bond purchases, Greek wrangling threatened to fracture the government and China’s cash crunch worsened.

The Stoxx 600 fell 1.2% to 280 at the close of trading on Friday.

In London, the FTSE 100 dropped 43 points (-0.7%) to settle at 6,116 while the German DAX shed 139 points (-1.8%) to close at 7,789.

U.S. stocks fell for the week, sending benchmark indexes to their worst retreat since April.

The S&P 500 slipped 2.1% to 1,592 last week, trimming its 2013 gain to 12%. The Dow Jones also lost 271 points (- 1.8%) for the week to finish trading at 14,799.

However, on Friday the S&P 500 reversed the trend to gain four points (+0.3%) while the blue-chip Dow added 41 points (0.3%) for the day.

Gold rose from the lowest since 2010 on speculation that the slump may spur purchases. The metal had its worst week since April.

Gold futures for August delivery added 0.5% to settle at $1,292 on the Comex in New York. Prices tumbled 6.9% for the week.

Crude oil fell to a two-week low as the greenback rose on expectations the Fed will trim its monthly bond purchases in September and on concern that China’s cash squeeze may curb its economic growth.

Oil for August delivery dropped $1.45 (-1.5%) to $93.69 a barrel on the New York Mercantile Exchange. There is no major local economic data due out during today’s session.

 

Morning Market Update: Tumultuous Week Behind Us is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Tough Day Ahead

Global markets nosedived overnight following the Fed’s announcement that it is considering reducing its stimulus in addition to signs of a slowing Chinese economy.

European stocks sank the most in more than 18 months after Federal Reserve Chairman Ben S. Bernanke said the central bank may end bond purchases next year if the economy strengthens in line with forecasts.

The Stoxx 600 plunged 3% to 284 at the close of trading, the biggest retreat since Nov. 21, 2011. In London, the FTSE 100 tumbled by 189 points (-3%) to settle at 6160 while the German DAX sank by 269 (-3.3%) points to close trading at 7928.

U.S. stocks fell, sending the S&P 500 to its biggest loss since November 2011, as global equities tumbled after the Federal Reserve said it may phase out stimulus and China’s cash crunch worsened.

The S&P 500 sank by 41 points (-2.5%) to 1588  and has now slumped 3.9% over two days. The Dow Jones erased 354 points (-2.3%) to settle at 14758.

Gold futures fell to the lowest since September 2010 after the Federal Reserve said stimulus may be reduced later this year as the economy recovers. Gold futures for August delivery tumbled 6.4% to $1286.20 on the Comex in New York.

Crude oil fell the most in seven months on signs China’s economy is slowing and after Federal Reserve Chairman Ben S. Bernanke said the central bank may start curbing bond purchases later this year.

Crude oil for July delivery declined 2.9% to $95.40 a barrel on the New York Mercantile Exchange. There is no major local economic data due out during today’s session.

Morning Market Update: Tough Day Ahead is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: US Continues Run

Global markets strengthened overnight amid speculation that the Federal Reserve will maintain its current stimulus measures.

European stocks were little changed as U.S. housing starts for May missed estimates amid concern the Federal Reserve will signal stimulus cuts at its policy meeting.

The Stoxx 600 lost less than 0.1% to settle at 293 at the close of trading. In London, the FTSE 100 gained 44 points (+0.7%) to close at 6374 while the German DAX added 14 points (+0.2) to finish trading at 8230.

U.S. stocks rose for a second session, pushing the S&P 500 to its highest level in June, as investors awaited the outcome of a Federal Reserve policy meeting for clues to the central bank’s plan for stimulus.

The S&P 500 increased by 13 points (+0.8%) to 1652, extending its two-session rally to 1.5%. The Dow Jones gained 138 points (+0.9%) to settle at 15318.

Crude oil climbed to a nine-month high as the Syrian conflict bolstered concern that the flow of supplies from the Middle East may be disrupted and on signs that economic growth is accelerating.

Crude oil for July delivery increased 67 cents to settle at $98.44 a barrel on the New York Mercantile Exchange. Gold futures fell to a three-week low on speculation about the Fed’s next move.

Gold futures for August delivery declined 1.2% to settle at $1366.90 an ounce on the Comex in New York. Today’s session will bring us the monthly CB Leading Index, at 10:00 am, followed by the Melbourne Institute Leading Index, at 10:30 am.

Morning Market Update: US Continues Run is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Strong Start Ahead

Global markets strengthened overnight, although U.S. stocks pared their gains late amid caution ahead of this week’s Fed meeting.

European stocks rose to a one-week high, rebounding from their longest streak of weekly losses in 14 months, as investors awaited this week’s Federal Reserve meeting for signs on the pace of stimulus reduction.

The Stoxx 600 rose 0.7% to 293.25 at the close of trading, for the first back-to-back gains this month.

In London, the FTSE 100 gained 22 points (+0.4%) to finish trading at 6330 while the German DAX added 88 points (+1.1%) to close the trading session at 8216.

U.S. stocks rose, with the S&P 500 rebounding from last week’s decline, as investors weighed economic data with the prospects for stimulus cuts ahead of this week’s Fed meeting.

The S&P 500 rose by 12 points (+0.8%) to finish at 1639 after earlier gaining as much as 1.2%. The Dow Jones added 110 points (+0.7%) to close at 15180.

Manufacturers in the New York region felt more optimistic in June even as orders, sales and employment dropped, indicating the area’s factories are looking beyond the current slowdown in growth.

Crude oil slipped on speculation that the Fed may curb stimulus after the report on the optimism by the New York manufacturers was released.

July oil delivery settled at $97.77 a barrel on the New York Mercantile Exchange, little changed from the four-month high of $97.85 in the previous session.

Gold declined as investors weighed when the Fed will taper asset purchases. Bullion futures for August delivery lost 0.3% to settle at $1,383.10 an ounce on the Comex in New York.

The Reserve Bank of Australia will release its Monetary Policy Meeting Minutes today at 11:30 am.

 

Morning Market Update: Strong Start Ahead is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: More Weakness Ahead

Global markets experienced wild swings overnight on speculation of changes to the U.S. Fed’s stimulus program amid confusing signals from Federal Reserve presidents.

European stocks rose, rebounding from a one-month low, as Federal Reserve Bank of Atlanta President Dennis Lockhart said the central bank is committed to its stimulus program.

The Stoxx 600 Index climbed 0.3% to 300 at the close of trading. In London, the FTSE 100 gained 34 points (+0.5%) to settle at 6559 while the German DAX added 10 points (+0.1%) to close at 8296.

U.S. stocks fell, snapping a streak of 20 straight Tuesday gains for the Dow Jones Industrial Average, as economists predicted the Federal Reserve may reduce stimulus as soon as September.

The S&P 500 fell by nine points (-0.6%) to finish at 1631, erasing an earlier gain of as much as 0.4%. The Dow slid 77 points (-0.5%) to 15178 at the close of trading in New York.

Crude oil fell on forecasts that U.S. fuel supplies grew and as equities declined. July delivery slid 14 cents to settle at $93.31 a barrel on the New York Mercantile Exchange.

Gold swung between gains and losses after rising the most in two weeks in the previous session, as investors weighed the prospect of the U.S. Federal Reserve maintaining asset purchases.

At 11:30am, the Australian Bureau of Statistics will release their quarterly GDP report.

 

Morning Market Update: More Weakness Ahead is a post from: Australian Stock Report Market Pulse Blog

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Morning Market Update: Set To Open Flat

Last night’s offshore session was marked by wild swings on both sides of the Atlantic, with European indices recovering from an early plunge only to suffer another sharp fall towards the end of trading.

It was a different story in the US, where a late surge on Wall Street was sparked by comments from a Fed President, who said the central bank is committed to its quantitative easing program.

The comments soothed investor nerves, which had been frayed earlier by data showing the US manufacturing sector contracting last month for the first time since December.

European stocks declined for a second session, extending a one-month low. The Stoxx 600 Index dropped 0.8% to 298.6 at the close of trading, the lowest level since May 2.

In London, the FTSE 100 shed 58 points (-0.9%) to settle at 6525 while the German DAX dropped 63 points (-0.8%) to close at 8286.

U.S. stocks rose, with the S& 500 Index erasing earlier losses, after the Federal Reserve Bank of Atlanta president said that central bank officials are committed to maintaining stimulus measures.

The S&P 500 rose by 10 points (+0.6%) to close at 1640 while the Dow added 139 points (+0.9%) to finish trading at 15254.

A report from the Institute for Supply Management showed that manufacturing unexpectedly contracted in May at the fastest pace in four years, fuelling concern that U.S economic growth could slow.

Crude oil rose as the U.S. dollar weakened the most since January against a basket of major currencies in response to the report on shrinking manufacturing.

Crude oil for July delivery gained $1.50 to settle at $93.5 a barrel on the New York Mercantile Exchange.

Gold rallied after the U.S. manufacturing report boosted speculation that the Federal Reserve will maintain the pace of its stimulus to sustain the recovery.

Gold futures for August delivery gained 1.4% to settle at $1411.9 an ounce on the Comex in New York.

The yen strengthened beyond 100 versus the greenback for the first time in almost a month as U.S. manufacturing unexpectedly contracted in May, dimming speculation that the Federal Reserve will reduce stimulus.

The Australian Bureau of Statistics will release their quarterly Current Account report at 11:30 am today. At 2:30 pm, the Reserve Bank of Australia will release both the Cash Rate and RBA Rate Statement.

Morning Market Update: Set To Open Flat is a post from: Australian Stock Report Market Pulse Blog

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