Daily Market Reviews by MAYZUS.com - page 6
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1 May 2014: The FED Cuts Monetary Easing Program By Another 10 Billion
Meeting of the FED did not bring any surprises, participants of the markets were almost sure that the program of quantitative easing will be reduced by another 10 billion. The interest rate has been kept on the same level within the diapason of the 0%-0,25%. Before we actually have got results of the meeting, we could follow publications of the data on gross domestic product of the USA, which has raised, according to the preliminary data, only for 0,1%, while growth of 1,2% was expected. The Chicago index of business activity for April, meanwhile, significantly surpassed market expectations of 56,7 points, having made 63 points. The April indicator of employment accordingly to ADP, in turn, reached the maximum level since November and has showed the number of the 220 thousand.
As a result, after the FED has stated their decision, the Dow Jones Industrial Average index added 0,28% and was closed on a level of the 16580,84 points, S&P 500 index grew up for 0,30% and reached a level of the 1883,95 points and the Nasdaq Composite index increased for 0,27% reaching a level of the 4114,56 points.
The European stock markets showed multidirectional dynamics waiting for meeting of the FED. The release of statistical data of the Eurozone and Germany also did not give essential support to indexes. So, retails in Germany for March decreased by estimated 0,7%, coinciding with the forecast. The unemployment rate for April, also coincided with the forecast and has made 6,7%. Slightly lower than forecasts, there was consumer price index in EU in April, showing growth for 0,7%, at the moment then analysts were predicting growth of the 0,8%. Following the results of the trading session, the index of the London stock exchange, FTSE 100 grew by 0,15%, the German DAX added 0,20% and French CAC 40 decreased by 0,23%.
The released yesterday data had a bad influence on the commodities, which are also continue to decrease today. Data on weekly oil stocks from U.S. Energy Information Administration stated that the oil stock for a week grew up to 1,698 million barrels. As a result, Brent is losing 0,45% and is traded this morning on a level of the 107,05$ for barrel. WTI is down for 0,38% and is traded on a price of the 98,73$ for barrel. Gold and silver are decreasing for 1,03% and 0,60% accordingly, traded on a price of the 1282,60$ and 19,06$ for troy ounce.
02 May 2014: Today Markets Will Closely Follow Figures On Unemployment And The PMI Indices
The majority of the stock markets in Europe and Asia were closed yesterday due to the celebration of Labor Day in those countries.
In the United States, in the meantime, a lot of important macroeconomic statistical reports were published, which showed rather different results. The number of primary requests for unemployment benefits in a week, made 344 thousand, which appeared to be worse than predictions of 319 thousand. Personal income in March increased by 0,5% and appeared to be better than the predicted 0,4%. Personal expenses in March also grew by 0,9%, against the expected level of 0,6%.
One of the most important indices in the American economy, the index of economic conditions of ISM in the production sphere, made 54,9 points in April , showing better results than the expected 54,3 points. In general, this data did not help indices make any significant moves, and indices closed the trading day at almost the same levels.
The Dow Jones Industrial Average index lost 0,13% and closed the day on the level of 16558,87 points, the S&P 500 index decreased by 0,01% and reached the level of 1883,68 points, and only the Nasdaq Composite managed to add in value (0,31%) closing the day at the level of 4127,45 points.
Today one more important report will be published, which is closely followed by investors and helps make conclusions about the development of the U.S. economy – the Nonfarm Payrolls report, which is expected to be on the level of 210 thousand, which is higher than the number of last month, 192 thousand. Also, we will see the results on the unemployment rate. In Europe, data on the PMI will be presented on Italy, France, Germany and the Eurozone, as a whole. Also, the unemployment figure in the Eurozone will be presented in the first part of the day.
Commodities are bargaining at the same levels, Brent is up 0,08% at a price of $107,29 per barrel, WTI is down by 0,08% at a price of $98,67 per barrel. Gold and silver are traded on prices of $1283,09 and $19,00 perr troy ounce and are losing 0,02% and 0,21% accordingly.
06 May, 2014: Stock Markets Are Opening Trading Week Without Significant Changes
The new trading week started with a moderate growth of the main stock markets. As for the U.S, the index of economic conditions of ISM in the non-productive sphere in April increased from 53,1, to 55,2, when, at the time, analysts predicted growth of only 54,1.
The Dow Jones Industrial Average index raised 0,11% to the level of 16530,55 points, the index of the wide market, Standard & Poor's 500, increased by 0,19% and reached a level of 1884,66 points, and the index of high-tech industries, Nasdaq Composite, went into plus by 0,34% and reached a level of 4138,06 points.
The situation in Europe was not so optimistic, mainly influenced again by the conflict in Ukraine, which brings huge uncertainty to the markets. The French index, CAC 40, increased by 0,10%, the German DAX went to a minus by 0,30%. The regional STXE 600 indicator, in turn, decreased by 0,30% and was closed on a level of 336,89 points.
The investor confidence index of Sentix of the Eurozone for May, made 12,8 points against average expectations of 14,2 points. Besides that, the price index of producers of the Eurozone in March decreased by 0,20%, which coincided with average forecasts.
The price of commodities remain stable without showing any significant movements. Brent and WTI are up by around 0,11% and are traded on prices of $107,23 and $98,84 per barrel. Gold adds 0,20%, traded on a level of $1311,94 per troy ounce. Silver is up 0,40%, bargaining next to the level of $19,65 per troy ounce.
The Asian markets are less active due to the celebration of a national holiday. Today, attention should be paid to the index of business activity in the services sector of Germany, Great Britain and the Eurozone. Also, later on data on retails sales in the Eurozone will be published.
07 May 2014: Third Session In A Row, Trading Takes Place In The Red Territory
One more trading day in the stock markets finished in the red zone. European indices closed the day in negative territory, despite the positive statistics on retail sales in the Eurozone. The escalation of the conflict in the Ukraine is still having a serious effect not only on the development in the emerging markets, but also in all the European countries.
As a result, the British index, FTSE 100, lost 0,35%, the French CAC 40 decreased by 0,78% and the German DAX went to a minus by 0,65%. The regional STXE 600 indicator decreased, in turn, by 0,30%, and was closed on a level of 336,04 points.
The European stock markets are decreasing for the third day in a row, even though yesterday published data on retail sales in the region increased in March by 0,3%, whereas analysts expected the indicator to fall 0,2%. In the meantime, the index of business activity in services sector of Germany decreased from 55,0 points in March, to 54,7 points in April.
The American stock market continued to follow the pessimistic moods of the European platforms. The Dow Jones Industrial Average index went down 0,78% to the level of 16401,02 points, the index of the wide market, Standard & Poor's 500, decreased by 0,90% and reached a level of 1867,72 points, and the Nasdaq Composite index went to a minus on 1,38%, and reached a level of 4080,76 points.
Interesting movement was observed in the development of the prices of oil, where the quotations were influenced by the news regarding oil production renewal in Libya. This morning, Brent is up by 0,24% and is traded on a level of $106,75 perr barrel, having dropped from the level of $108,00 yesterday. In the meantime, WTI is up by 0,65% and has reached a level of $99,29 per barrel.
Prices of precious metals are also moving in a positive direction, gold adding 0,16%. Investing in gold would cost you $1310,70 per troy ounce, whilst Silver is up 0,08% and is bargaining on a price of $19,66 per troy ounce.
09 May, 2014: Comments Of Draghi Sent EUR/USD Down
Yesterday, investors were focusing on the meeting of the European Central Bank, which strongly affected the Euro's position in relation to main currencies. The ECB kept the interest rate on the same level of 0,25%, but during the press conference, Mario Draghi hinted that it was possible that interest rates could lower next month.
This had an immediate effect on the euro. The EUR/USD dropped from its maximum level over the past 3,5 years, 1,3993, to the minimum of the week, on the level of 1,3848. This morning, the EUR/USD currency pair is traded on a level of 1,3826.
In the U.S, data was presented on the primary requests for unemployment benefits, which appeared to be substantially better than expectations, making 319 thousand, dropping from 345 thousand last month. Analysts were expecting the number to be on 325 thousand.
As a result, the Dow Jones Industrial Average index grew by 0,20% to the level of 16550,97 points, the S&P 500 index lost 0,14% and reached a level of 1875,63 points, and the Nasdaq Composite index decreased by 0,40%, to 4051,50 points.
Prices of commodities are stable and are moving, but without a significant change. Brent and WTI are up 0,84% and 0,83% accordingly, traded on levels of $108,39 and $100,36 per barrel. Gold is up 0,23% and is bargaining on a price of $1290,67 per troy ounce. Silver is adding 0,27% and is traded on a level of $19,19 per troy ounce.