Daily Financial Markets Report | Monday, 16 May 2016

Daily Financial Markets Report sources information from Business Day, Reuters, JSE Ltd and others.

sacciHighlights

 The U.S. stock market will have a lot to digest in the week ahead. As one of the most miserable corporate earnings seasons in recent memory winds down, there are still plenty of economic data points and the Federal Reserve guessing game to keep investors busy even as appetite for stocks remains depressed. European stocks finished higher on Friday as a better-than-expected report on U.S. retail sales lifted sentiment, easing fears that the world’s largest economy isn’t heading for a slowdown. Stocks in Hong Kong rose sharply to lead gains in most of Asia on Monday, as investors reversed course on negative bets following the latest economic data out of China.

 The U.S dollar is currently trading at 1.13 to the Euro; 1.44 to the Pound and will buy 108.80 Japanese Yen or 15.20 South African Rand.

 Spot gold is currently trading at US$ 1 280.00/oz. and platinum at US$ 1060.30/oz. Brent crude oil is currently trading at US$ 48.54 per barrel.

International Markets

The U.S. stock market will have a lot to digest in the week ahead. As one of the most miserable corporate earnings seasons in recent memory winds down, there are still plenty of economic data points and the Federal Reserve guessing game to keep investors busy even as appetite for stocks remains depressed. European stocks finished higher on Friday as a better-than-expected report on U.S. retail sales lifted sentiment, easing fears that the world’s largest economy isn’t heading for a slowdown. Stocks in Hong Kong rose sharply to lead gains in most of Asia on Monday, as investors reversed course on negative bets following the latest economic data out of China.

The S&P 500 down 17.62 points, or 0.9%, to close at 2 046.49, its lowest closing since April 11. The Dow Jones Industrial Average dropped 185.18 points, or 1.1%, to finish at 17 535.32. The Nasdaq Composite declined 19.66 points, or 0.4%, to close at 4 717.68.

The Stoxx Europe 600 rose 0.5% to close at 334.68, extending its weekly gain to 0.9%. France’s CAC 40 added 0.6% to 4 319.99, while Germany’s DAX 30 ended up 0.9% at 9 952.90. The U.K’s FTSE 100 climbed 0.6% to 6 138.50.

The Hang Seng Index was last up 1.1%, having gained throughout the morning. In China, stocks recovered from earlier losses, to last trade up 0.4%.

The U.S dollar is currently trading at 1.13 to the Euro; 1.44 to the Pound and will buy 108.80 Japanese Yen or 15.20 South African Rand.

The All-share index was at that stage 0.56% lower at 51 196 points, which meant it has lost more than 2% since Wednesday morning. The Top 40 index was 0.42% softer at 45 002 points.

Commodities

Spot gold is currently trading at US$ 1 280.00/oz. and platinum at US$ 1060.30/oz. Brent crude oil is currently trading at US$ 48.54 per barrel.

sacci

Share Button