June 5, 2014 - Market News Daily
Hot Day Asset : EUR
U.S. stocks ended higher today once again after ISM Non - Manufacturing positively released . Beige Book also showed that most areas in the U.S. grew at a moderate pace . Because the optimistic outlook , the Federal Reserve looks on track to end their asset purchases completely at the end of this year . The S & P 500 reached a record for the 16th time this year and closed 0.19 % higher at 1,927.88 . The Dow Jones closed 0.09 % higher at 16,737.53 . Asian markets mixed but with little change as investors were cautious ahead of interest rate decision from the ECB today . Nikkei adds 0.08 % led by gains in technology and steel stocks such as Sharp Corp. added 4.8 % . The Han Seng , however , lost 0.08 % after the HSBC China Services PMI growing at a slower pace during the last month ; weakest growth for 4 months . European markets have started the day lower . Hope is to see banks cut rates into negative territory . Currently , the FTSE 100 fell 0.21 % , France's CAC 40 is off 0.08 % and Germany's DAX was lower by 0.08 % . This decision will be released at 11:45 GMT and will be followed by a press conference at 12:30 pm .
WTI Crude fell as traders assess data received from the EIA . The EIA released the weekly that distillate stocks increased , however , crude oil inventories decreased by a larger amount than expected ; fell 3.4 million barrels in the week ended May 30. This decrease was primarily related to a decrease in imports . Gold has been trading in a tight range in the 14-month low . Stocks go higher , investors are less interested in the metal . Geopolitical tensions have decreased and the positive outlook for the U.S. economy and the second bearish factor for gold . The focus will be the ECB 's decision today and tomorrow's NFP Report .
Game Day :
1100 GMT : GBP - Interest Rate Decision - Bank of England ( BOE ) Monetary Policy Committee members choose where to set the level . Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation .
11:45 GMT : EUR - Interest Rate Decision - Six members of the European Central Bank ( ECB ) Executive Board and the 16 governors of the central banks of the euro area in which to set the sound level
12:30 GMT : EUR - ECB Press Conference - Scheduled monthly , about 45 minutes after the Minimum Bid Rate is announced . First read prepared statements , then this conference is open to press inquiries . Questions often lead to an answer without a script that creates heavy market volatility
12:30 GMT : USD - Initial Jobless Claims - measures the number of people who filed for unemployment insurance for the first time during the past week
14:00 GMT : CAD - Ivey PMI - measuring the activity level of purchasing managers in Canada .
