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

Month: July 2013

Morning Market Update: Bull Back On Top

International markets logged solid gains overnight amid positive developments in the US.

The Wall Street bulls got going after data showed a bigger-than-expected drop in weekly jobless claims. Philadelphia-area manufacturing activity also surged this month at the fastest pace since March 2011.

Stocks received a further boost from corporate giants, Morgan Stanley and United Health Group, which both reported quarterly profit that beat analyst estimates.

In Washington, Ben Bernanke wrapped up his two day testimony by declaring it was too early to determine whether the central bank needed to slow down stimulus.

The chairman’s comments in recent days have eased fears of a sudden end to quantitative easing, and helped drive the Dow and S&P500 to fresh all-time highs.

The Dow Jones added 78 points (+0.5%), closing at 15549. The S&P500 added 0.5% to 1689 whilst the Nasdaq eked out a one point gain to 3611.

Most commodities rose on the back of Bernanke’s dovish tone. Oil was a big mover after data showed weekly US crude inventories falling to their lowest levels since January. Crude for August delivery soared 1.5% to US$108.70 a barrel.

The greenback strengthened against most other currencies, rising above 100 yen as the positive US data boosted optimism in the world’s largest economy. There is no major economic data scheduled for release today.

 

Morning Market Update: Bull Back On Top is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Morning Market Update: Helicopter Ben At It Again

Global markets were fairly subdued again overnight, although there were some modest gains after the Fed Chairman indicated that stimulus program may not be reduced as soon as investors speculated.

European stocks rose, bouncing back from their biggest drop in more than a week, as Bernanke said that the pace of the recovery will determine when the central bank reduces its asset purchases.

The Stoxx 600 Index gained 0.6% to 297 at the close in London, after earlier falling as much as 0.6%. The FTSE 100 put on 16 points (+0.2%) to close trading at 6572 while the German DAX added 54 points (+0.6%) to settle at 8255.

U.S. stocks rose, after the S&P 500 snapped an eight-day rally the previous session, as Bernanke said that the central bank’s asset purchases are not on a preset course.

The S&P 500 rose by five points (+0.3%) to finish trading at 1681 after falling from a record high the previous session while the Dow Jones climbed 19 points (+0.1%) to close at 15471.

Crude oil gained after a government report showed that U.S. inventories decreased more than expected as refineries boosted fuel production.

Oil for August delivery climbed 48 cents to settle at $106.48 a barrel on the New York Mercantile Exchange.

Gold futures fell the most in more than a week after the U.S. dollar rebounded, curbing demand for the metal as an alternative investment. Bullion futures for December delivery fell 1% to settle at $1,278.80 on the Comex in New York.

The Conference Board will release its CB Leading Index report today, at 10:00 am. The National Australia Bank Limited will release its quarterly NAB Quarterly Business Confidence report today, at 11:30 am.

 

Morning Market Update: Helicopter Ben At It Again is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Morning Market Update: US Streak Snapped

Global stocks retreated overnight on signs of a declining global economy and amid calls for reduction in the Fed stimulus. European stocks fell from their highest level in almost six weeks as German investor confidence unexpectedly dropped this month.

The Stoxx 600 Index dropped by 0.7% to 295.3. The gauge rallied 5.6% in the past three weeks on optimism that central banks around the world will continue to support economic recovery.

In London, the FTSE 100 shed 30 points (-0.5%) to settle at 6556 while the German DAX dropped 34 points (-0.4%) to close trading at 8201.

U.S. stocks fell, halting the longest rally in the S&P 500 since January, as Coca-Cola Co.’s profit dropped and as a Federal Reserve official called for cuts to stimulus.

The S&P 500 fell by six points (-0.4%) to 1676 after rising eight straight sessions to a record close the previous session. The Dow Jones lost 32 points (-0.2%) to settle at 15452.

Crude oil fell for the first time in three sessions as U.S. stocks declined and Federal Reserve Bank of Kansas President Esther George said that the central bank should taper its asset-buying soon. Oil for August delivery slid by 32 cents to settle at $106 a barrel on the New York Mercantile Exchange.

Gold futures gained for the sixth time in seven sessions as the U.S. dollar’s drop increased demand for the metal as alternative investment on speculation that the Federal Reserve will maintain its monetary stimulus.

Bullion for August delivery gained 0.5% to settle at $1,290.40 an ounce on the Comex in New York. The Melbourne Institute will release its monthly MI Leading Index report today, at 10:30 am.

Morning Market Update: US Streak Snapped is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Morning Market Update: Chinese GDP

Global markets finished the week on a soft note on Friday night, with major indices on both sides of the Atlantic little changed after a solid week.

European stocks posted their biggest weekly gain in two months amid optimism that central banks from the U.S. to Japan will continue their stimulus measures.

On Friday night, European stocks were little changed from a five-week high, as investors awaited U.S. earnings out this week. The Stoxx 600 Index rose 2.7% to settle at 296 for the week.

In London, the FTSE 100 was barely changed, adding just two points to close at 6545. The German DAX added 54 points (+0.7%) to finish trading at 8213.

U.S. stocks rose for the seventh session running, extending a record for the S&P 500 on the back of better than estimated bank earnings.

The S&P 500 advanced by five points (+0.3%) to a record 1680, while the blue-chip Dow Jones added three points (+0.1%) to settle at 15464, also an all-time high.

Gold fell as a stronger U.S. dollar curbed demand for an alternative investment, narrowing the biggest weekly gain since October 2011, after Fed Chairman Bernanke called for maintaining stimulus. Bullion for August delivery slipped 0.2% to settle at $1,277.60 an ounce on the Comex in New York.

Crude oil climbed on speculation that U.S. inventories will keep declining after the largest two-week drop in at least three decades. Crude for August delivery advanced $1.04 to settle at $105.95 a barrel on the New York Mercantile Exchange.

The Australian Bureau of Statistics will release its monthly New Motor Vehicle Sales report at 11:30 am today.

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

Posted in Uncategorized

Morning Market Update: Bulls Running

Global markets rallied overnight following reassurance by the Federal Reserve that tapering will not happen as soon as speculated.

European stocks advanced to their highest level in more than five weeks after Fed Chairman Bernanke said that the U.S. economy will continue to need stimulus measures.

The Stoxx 600 increased by 0.6% to 297 at the close of trading. In London, the FTSE 100 added 39 points (+0.6%) to close at 6543 while the German DAX put on 92 points (+1.1%) to settle at 8159.

U.S. stocks jumped, sending the S&P 500 to a record closing level, as the Fed backed sustained monetary stimulus.

The S&P 500 gained 22 points (+1.4%) to close at 1675, erasing losses since Bernanke first suggested the Fed might curb stimulus this year. The Dow Jones jumped 169 points (+1.1%) to settle at 15461.

Gold futures rallied to a two-week high after the Fed’s comment that the U.S. needs “highly accommodative monetary policy for the foreseeable future.”

Bullion for August delivery climbed 2.6% to settle at $1279.90 an ounce on the Comex in New York.

Crude oil slipped from a 15-month high as more Americans than expected filed for unemployment benefits and the International Energy Agency predicted global supply will outstrip demand growth. Crude for August delivery declined by 1.5% to settle at $104.91 a barrel on the New York Mercantile Exchange.

The Australian Bureau of Statistics will release its monthly Home Loans Report, at 11:30 am today.

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

Posted in Uncategorized

Morning Market Update: Strong Morning Ahead

Global markets were little changed overnight, with all major indices on both sides of the Atlantic moving less than 20 points.

European stocks erased their decline in the final half an hour of trading, leaving the Stoxx Europe 600 Index little changed at its highest level in a month. In London the FTSE shed eight points (-0.1%) to settle at 6505, whilst in Germany the DAX put on nine points (+0.1%) to finished at 8066.

U.S. stocks were little changed as investors analysed minutes from the Federal Reserve’s last meeting for signs on when the central bank might slow the pace of stimulus efforts.

Federal Reserve chairman Ben Bernanke says that the U.S. central bank will continue to pursue an accommodative monetary policy for now as inflation remains low and the employment rate may be overstating the health of the labour market.

“The overall message is accommodation,” Mr Bernake said at a conference sponsored by the National Bureau of Economic Research. He said that a “highly accommodative policy is needed for the foreseeable future.”

The Fed chairman sounded several dovish notes. He said the current unemployment rate of 7.6% “if anything overstates the health of the labour market” and said the central bank will not automatically raise interest rates when the unemployment rate hits 6.5%.

Gold futures jumped to a one-week high as minutes from the Federal Reserve’s last meeting showed many officials want to see more signs of employment picking up before they begin slowing the pace of bond purchases.

Gold futures for August delivery climbed 0.3% to $1,249.10 on the Comex in New York.

Crude surged to a 15-month high after U.S. stockpiles tumbled for a second week.

Oil for August delivery climbed $2.99 to $106.52 a barrel on the New York Mercantile Exchange, the highest settlement since March 27, 2012.

Copper futures rebounded from a one-week low after imports climbed to the highest since September in China, the world’s top consumer of industrial metals. Copper futures for September delivery climbed 0.9% to settle at $3.091 a pound on the Comex in New York.

The greenback declined versus most of its major peers after Federal Reserve Chairman Ben S. Bernanke said inflation and unemployment rates signal the U.S. economy needs more stimulus.

Today’s session will data in the form of the Melbourne Institute inflation gauge, at 11:00am, and the latest employment change and unemployment rate numbers, 11:30am.

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

Posted in Uncategorized

Morning Market Update: Bull Run Continues

International markets extended their rally overnight after the US earnings season kicked off on a positive note.

US markets banked their fourth straight session of gains after aluminium giant, Alcoa, announced quarterly profit and sales that exceeded analyst estimates. The Dow Jones added 75 points (+0.5%) to settle at 15300, the Nasdaq rose 0.7% to 3504 and the S&P500 climbed 0.5% to 1652.

The rebound on Wall Street has seen the S&P500 mostly recover the almost six percent plunge from its record high in late May.

European markets enjoyed even stronger gains, with the UK FTSE advancing 1% to 6513, the German DAX soaring 1.1% to 8058 and the French CAC jumping 0.5% to 3844.

Most commodities strengthened, with oil holding above $103 a barrel as the ongoing political turmoil in Egypt continues to fuel concerns of supply disruptions in the Middle East.

Gold (+0.9%) and silver (+0.5%) also rose as a bigger-than-expected rise in Chinese consumer prices last month boosted the metals’ appeal as an inflation hedge.

In currency markets, the euro slid 0.7% to US$1.2781 amid speculation the European Central Bank will ease monetary policy further, even as the Fed looks to scale back its own easing policies.

Elsewhere, the Aussie appreciated 0.5% to US$0.9176, but could come under renewed selling pressure on the back of an IMF report suggesting China is in for a prolonged economic slowdown.

In local economic news, the Westpac Consumer Sentiment Survey is due for release at 10:30am, AEST.

 

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

Posted in Uncategorized

Morning Market Update: US Earnings Season

Global markets strengthened overnight, buoyed by increased confidence at the onset of the earnings season and as political uncertainty in Portugal subsided.

European stocks rose, rebounding from their biggest decline in almost two weeks, amid speculation that economic data will improve as Portugal’s politicians reached an agreement to hold the governing coalition together.

The Stoxx 600 Index added 1.4% to finish at 292 at the close of trading.

In London, the FTSE 100 gained 75 points (+1.2%) to settle at 6450 while the German DAX put on 163 points (+2.1%) to close the trading session at 7969.

U.S. stocks rose, giving the S&P 500 a third straight session of gains, as the start of corporate earnings season fueled increased optimism about growth in the world’s largest economy.

The S&P 500 added nine points (+0.5%) to finish at 1640, the highest since June 18 while the Dow Jones rose by 89 points (+0.6%) to settle at 15225.

Crude oil dropped from a 14-month high after an official said Egypt’s Suez Canal is secure and ship traffic is ‘normal’, even as violence escalated in Cairo.

Crude for August delivery settled at $103.14 a barrel on the New York Mercantile Exchange. Gold futures rose the most in a week in New York on speculation that this year’s slump will spur stronger physical demand.

Gold futures for August delivery rose 1.8% to settle at $1,234.90 on the Comex in New York. National Australia Bank Limited will release its monthly Business Confidence report at 11:30 am today.

 

Morning Market Update: US Earnings Season is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Morning Market Update: Bullish Into New Week

Global markets were mixed on Friday, with weakness in Europe countered by a strong session in the U.S. after the latest jobs report indicated a strengthening economy but also raised speculation that the Fed tapering may happen soon.

European stocks fell, paring their weekly advance, as better-than-estimated U.S. payrolls data for the past three months signaled the Federal Reserve has enough room to pare stimulus this year.

The Stoxx 600 dropped 1.3% to 288 at the close in London, trimming its advance this week to 1.2% from 2.3% earlier. The FTSE 100 dropped 46 points (-0.7%) to settle at 6376 while the German DAX shed 188 points (-2.4%) to close trading at 7806.

U.S. stocks rose, sending the S&P 500 to the biggest rally in three weeks, after government data showed that the nation added more jobs than forecast last month.

The S&P 500 gained 16 points (+1%), advancing 1.6% for the week to settle at 1632. The Dow Jones added 147 points (+1%) to close at 15136.

The U.S. Labor Department reported better-than-forecast jobs data on Friday. Jobs rose by 195,000 for June, compared with the median forecast of 165,000. Revisions for April and May added a total of 70,000 jobs.

Crude oil rose to a 14-month high after the U.S. jobs data which boosted economic optimism, and also on concern that unrest in Egypt may escalate.

Oil for August delivery rose $1.98 (+2%) to $103.22 a barrel on the New York Mercantile Exchange, the highest settlement since May 2, 2012.

Gold futures fell to a one-week low as the dollar surged to the highest in almost three years after U.S. jobs report, fueling speculation that the Federal Reserve will scale back stimulus.

Gold futures for August delivery slumped 3.1% to settle at $1,212.70 an ounce on the Comex in New York. There’s no major local economic news expected during today’s session.

 

Morning Market Update: Bullish Into New Week is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized

Morning Market Update: Bulls Bouncing Back

Global markets rebounded overnight as investors regained confidence after economic data and reports indicated that the global economy can withstand tapering of Fed stimulus.

In London, the FTSE 100 added 92 points (+1.5%) to close trading at 6308 while the German DAX put on 25 points to finish at 7984.

U.S. stocks rose, with the S&P 500 rebounding from its first monthly loss since October, as reports showing improved manufacturing from Japan to the U.S. bolstered confidence in the global economy.

The S&P 500 rose by nine points (+0.5%) to settle at 1615 while the Dow Jones climbed by 65 points (+0.4%), to 14975.

Gold prices advanced the most in nine weeks as demand for coins, bars and jewelry rebounded following the record quarterly plunge.

Gold futures for August delivery rose 2.6% to settle at $1,255.70 on the Comex in New York.

Crude oil rose, snapping last quarter’s decline, amid concern than mass protests against President Mohamed Mursi of Egypt, the largest Arab nation, might spread and affect Middle Eastern oil supply.

Oil for August delivery was at $97.51 a barrel in electronic trading on the New York Mercantile Exchange, up 95 cents.

The yen fell to a the lowest in more than three weeks against the greenback as the central bank’s Tankan survey showed large manufacturers were the most optimistic in two years, damping demand for safety.

The Reserve Bank of Australia will release its monthly Cash Rate and RBA Rate Statement reports at 2:30 pm today.

Morning Market Update: Bulls Bouncing Back is a post from: Australian Stock Report Market Pulse Blog

Posted in Uncategorized