July 24, 2014 - Daily Market News
Today's Hot Assets: USD
U.S. stocks mixed following gains in health care and technology sharing. The S & P 500 closed at a record 1,987.01, 0.18% higher after Apple increased sharing and climbed to the highest since 2012. Nevertheless, the Dow Jones declined 0.16% after Boeing fell 2.3% despite the lifting its outlook for 2014. Asian markets were mixed as well. The Nikkei lost 0.29% as the yen weakened due to weaker than expected trade data from Japan. Dollar is Trading at 101.54 yen, up from 101.35 yen the day before. The Hang Seng, however, climbed 0.6% after HSBC Working PMI showed Chinese manufacturing activity rising to its best level in 18 months. European markets are lower today following weaker than expected earnings from Unilever lost 1.9%. Currently, the CAC 40 was down 0.51% while Germany's DAX off 0.40% and London FTSE 100 was lower by 0.27%.
WTI Crude climbed after the EIA reported that inventories declined at a higher rate than expected. According to Bloomberg, Cushing supplies fell by 1.45 million barrels. Stockpiles are at their lowest level in 6 years adds further upward pressure today. The prices were also supported by positive Chinese data. Geo political tension currently affecting the price but traders should remain up-to-date as can drive to any significant changes in the prices even higher. Gold declined as equities rise. Sustained tension in the Middle East and Ukraine has recently provided support but gets to be limited because of speculation on when the Federal Reserve raised interest rates.
Main Event of the day:
07.30 GMT: EUR - German Working PMI - measures the level of purchasing managers in the manufacturing sector activity
08.30 GMT: GBP - Retail Sales - measure the change in the total amount of inflation adjusted sales at the retail level
14:00 GMT: USD - New Home Sales - measures the annualized number of new single-family homes that sold last month
23:30 GMT: JPY - Tokyo CPI - measures the change in prices of goods and services purchased by consumers in Tokyo, excluding fresh food.
