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3rd November 2014 - Global Indexes Continue Higher
Major Indexes:
FTSE 100 6,6,546.47 (+1.28%)
Dax 9,326.87 (+2.33%)
CAC40 4,233.09 (+2.22%)
Nikkei 16,413.76 (+4.83%)
Hang Seng 23,924.84 (-0.33%) Dow 17,390.52 (+1.13%)
NASDAQ 4,630.74 (+1.41%) S&P 2,018.05 (+1.17%)
Global indexes continue to rally despite weaker than expected figures out of China relating to factory activity and the services sector.
The services sector in China slowed down at its fastest pace in 9tmhs along with a fall back in Factory activity not seen in 5mths. This had added speculation that the Chinese economy could be slowing at a rate far quicker than previously thought and that we could see growth as low as 7% once 2014 has concluded.
The Bank of Japan has announced that it will be doubling its stimulus efforts as it looks to battle deflation.
The news comes just after a run of better than expected data last week and confirmation that the state pension fund would increase its allocation of local stocks from 12% to 25%. This saw the Nikkei 225 gain over 5% on Friday and continued to see positivity in intraday trading on Monday.
European markets are expected to continue in the same light as we wait for the ECB's meeting on Thursday. It is largely predicted that the European Central Bank will be looking to increase its stimulus substantially in a effort to stem the stagnation currently seen in the region. If the bank does look to implement some form of bond buying program it will probably be started early next year and would be seen as a last measure as the commitment to the program would need to be unwavering and the amount of money in the program could end up being astronomical.
Markets in the US closed at record highs on Friday. The S&P 500 was back up over 2,000 and the Dow reached nearly 17,400. The recent run of positive earnings and continued confirmation that the US economy is coming on leaps and bounds has helped investors continue on a bull run seen of late. The strong dollar is now at a 7 year high against the Yen and a 2yr high against the Euro.
This has seen the price of commodities fall with gold at levels not seen since 2010 at $1,168.00 an ounce and Silver down to $15.87. US Crude Oil is now down to $80.18 per barrel.
All eyes and ears will be on the European Central Bank and whether they will make any statements regarding their possible new stimulus plans.
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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 Stock Port Associates.All market data within this release is for your general information and enjoys indicative status only. Stock Port Associates 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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