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22nd of October 2014 - Global Markets Return to Gains

Markets globally have returned to gains after a range of economic data and announcements from Central Banks has eased investor concerns over the Global economic expansion and geo-political issues.

News from the European Central Bank has helped spur global indexes as they announce a new scheme to be decided on by December. In an attempt to stall Europe's return to recession the ECB will discuss the feasibility of purchasing European corporate bonds as early as January next year. The move comes as the ECB looks to help banks free up cash so they can start to lend again. The report was well received in Europe and helped indexes post strong gains.

In the US, market too were positive as tech giants Apple and Texas Instruments both posted stronger than forecast earnings. The 2 heavy hitters pushed the NASDAQ up over 2.4% and helped the S&P 500 make its 4 straight daily gain, up 1.96%, being its highest move since late 2013. The Federal Reserve looks keen to get interest rates back up as several key members of its board state that rates could and should increase early next year. The Fed is expected to stop its QE program this month as it has wound down its bond buying scheme since the beginning of the year. This in itself is seen as a key indicator that the local economy is strong enough that a rate increase may happen in the early spring of 2015.

Of the markets open in Asia, the Nikkei has improved the most today as it benefitted from a string of news investors felt would boost the local economy. As the government looks to increase its allocation of local stocks for its pension program, the largest public fund in the world worth $1.2tn and data showed that exports last month were 6.9% higher than the previous year, Japans current stagnation may have started to shift. The Bank of Japan has been working tirelessly to pull Japan out of the deflation it is in and many believe that the turning point is just round the corner. The Nikkei was up 2.35% on intraday trading and looked set to end the week strongly.

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DISCLAIMER The views, opinions, findings, and conclusions or recommendations expressed on this service are those of the author(s) and do not necessarily reflect the views of the Triumph Financial Advisors.All market data within this release is for your general information and enjoys indicative status only. Triumph Financial Advisors does not accept any responsibility for its accuracy or for any use to which it may be put. All share prices and market indexes delayed at least 15 minutes. 52 week high and low values are calculated from close price data.


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