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Morning Market Analysis: Quiet Session Ahead

It was fairly quiet, non-committal session for global markets overnight with none of the major indices moving much more than half a percent, as weak economic data put the global rally on hold. European markets slipped, with the Stoxx Europe 600 down 0.1%.

In London the FTSE shed 34 points (-0.6%) to settle at 5855, whilst the French CAC (-0.6%) and German DAX (-0.1%) were also weaker. Stateside, the Dow Jones put on 19 points (+0.1%), whilst the broader S&P (-0.1%) and NASDAQ (-0.2%) didn’t fare quite so well.

US stocks fell, as China posted weak economic data and U.S. jobless claims were higher than expected. The Dow turned positive after statements supporting recent US central-bank action from three regional Fed bank presidents, a better-than-expected business activity reading from the Federal Reserve Bank of Philadelphia and a successful Spanish bond auction.

Crude oil fell 0.1%, to settle at $91.87 a barrel, while gold prices lost 0.1%, to settle at $1,767.70 an ounce. The US dollar gained against the euro but fell against the yen. The yield on the 10-year Treasury note fell to 1.778%.

Today’s session will bring us the CB leading index, at 10:00, AEST.


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

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