Asian shares were a tad weaker on Friday but were poised for their biggest weekly gain since January as strong U.S. corporate earnings lifted the S&P 500 to a 2-1/2 month high, although a firm yen kept Japanese shares on the backfoot.
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Saturday, 21 July 2012
U.S.STOCK
U.S. stocks rose this week, with the Standard & Poor’s 500 Index posting its first back-to-back gains since June, as earnings from International Business Machines Corp. to Baker Hughes Inc. beat estimates and Federal Reserve Chairman Ben S. Bernanke said he’s prepared to add stimulus.
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U.S.TREASURY
U.S. Treasury debt prices jumped on Friday as fears over a full-fledged bailout for Spain drove a safety bid for government bonds, nudging their yields near historic lows.
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DOLLAR
The dollar was also close to flat versus the yen at 78.56 yen, still near Thursday’s six-week low of 78.42.
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EURO
The euro dipped 0.1 percent to $1.2270, holding above last week’s two-year low of $1.2162. Derrick said he expected a test of $1.2150 next week.
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NIKKEI
The Nikkei eased 0.3 percent to 8,770.30, holding above i ts five-day moving average at 8,754.34. The benchmark is still up 0.5 percent this week after dropping 3.3 percent last week to log its biggest weekly fall since mid-May.
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U.S.CRUDE
U.S. oil fell 76 cents to $91.90. The August contract ended up $2.79 and touched a high of $92.94, also the highest since May 22.
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BRENT CRUDE
Brent September crude fell 97 cents, or 0.90 percent, to settle at $106.83 a barrel, having traded from $105.60 to $107.70. For the week, Brent rose $4.43, or 4.33 percent, front-month Brent’s fourth straight weekly gain.
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OIL
Oil rose to an eight-week high in the previous session, gaining for seven straight days as escalating tension in the Middle East and disruptions in output in the North Sea stoked supply fears. A strengthening of the dollar after a recent slide is also supporting crude futures.
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SHANGHAI COPPER
The most active November copper contract on the Shanghai Futures Exchange fell 0.6 percent to 55,910 yuan ($8,800) per tonne, pushed down by Shanghai equities amid thin trading volumes. Shanghai copper is up 0.8 percent on the week.
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LME COPPER
Three-month copper on the London Metal Exchange fell 0.1 percent to $7,719.75 per tonne by 0729 GMT after touching a two-week high of $7,813 on Thursday.
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COPPER
London copper prices edged down on Friday, weighed down by China’s warning against relaxing curbs on the property sector, a move many investors favour as a quick way to boost domestic consumption.
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SPOT GOLD
Spot gold inched up 0.2 percent to $1,584.20 an ounce by 2:46 p.m. EDT (1846 GMT), rebounding from a low at $1,573.14 earlier in the session.
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GOLD
Gold hovered near $1,580 per ounce on Friday as investors clung to hopes for more monetary easing from the U.S. central bank after weak data in the previous session, but a dollar rebound will likely cap gains.
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U.S.MARKET UPDATE
U.S. stocks rose this week, with the Standard & Poor’s 500 Index posting its first back-to-back gains since June, as earnings from International Business Machines Corp. to Baker Hughes Inc. beat estimates and Federal Reserve Chairman Ben S. Bernanke said he’s prepared to add stimulus.
The Dow Jones industrial average gained 34.66 points, or 0.27 percent, to 12,943.36 on Thursday. The Standard & Poor’s 500 Index rose 3.73 points, or 0.27 percent, to 1,376.51. The Nasdaq Composite Index added 23.30 points, or 0.79 percent, to 2,965.90.
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Friday, 20 July 2012
ASIAN STOCK
Asian shares were a tad weaker on Friday but were poised for their biggest weekly gain since January as strong U.S.corporate earnings lifted the S&P 500 to a 2-1/2 month high,although a firm yen kept Japanese shares on the back-foot.
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U.S.STOCK
U.S. stocks rose on Thursday for a third straight day, with the S&P 500 at a 2-1/2 month high as earnings from technology companies as well as hopes for more monetary stimulus outweighed weak economic data.
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U.S.TREASURY
Benchmark 10-year note yields are trading only 8 basis points higher than a record low of 1.44 percent set on June 1, which was tested again earlier this week when surprisingly weak economic data spurred new bond buying.
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FTSE
The cyclical sector led the market higher, adding a total of 8.7 points to the broader FTSE 100, which ended up 0.5 percent, or 28.42 points, at 5,714.19 points.
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DOLLAR
The dollar edged up 0.2 percent versus the yen to 78.69 yen , supported by short-covering and inching away from Thursday’s six-week low of 78.42 yen.
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EURO
The euro fell 0.2 percent to $1.2261, staying above a two-year low of $1.2162 hit on trading platform EBS last week.
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NIKKEI
The Nikkei eased 0.3 percent to 8,772.13, holding above its five-day moving average at 8,754.61.
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SHANGHAI COPPER
The most active November copper contract on the Shanghai Futures Exchange rose 0.1 percent to 56,270 yuan ($8,800) per tonne.
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