28th May 2014 Global Market and Update.
Global markets continue to rally as economic data from the US helped push Asian indexes close to year highs across the board. Despite slightly lower than expected figures the US markets held last week's gains and the S&P 500 again broke its closing record for the 2nd day in a row. This week see's a plethora of economic data from the US as the month draws to a close, reports on Housing data yesterday came in under expectation however still showed positivity. House prices are up over 10% from the previous year however the first quarter of 2014 showed only 0.2% growth. Retail sales also stumbled after posting a 1.5% gain for March, April saw only a 0.1% increase on the previous month, which was largely ignored as analysts expect a bumper summer after the increase in jobs seen earlier in the year. There was a significant exit from the bond markets yesterday as investors returned to value stocks. Both the NASDAQ and Dow Jones had respectable days and as we round off the week with more economic indicators the "Bulls" will be expecting a strong close to the month!
Europe is busy at the moment. With the crisis in the Ukraine changing on a daily basis and the European Parliament facing a new generation of MEP's, everyone will be keen to see what the ECB and in particular, Mr. Draghi will have to say next week. Next Thursday could see the announcement of European QE, a la Fed Reserve style and although it's been hinted at for the last few weeks, there is still no guarantee that the ECB Chairman will make that all important announcement. What is for sure is that the markets in Europe will stay positive and keep their gains of the past few weeks as the economy picks up after the terrible weather that was seen at the start of the year.
Major Indexes as of 27th May:
Index % Change Close/
DOW Jones (+0.42%)
FTSE 100 (+0.04%)
CAC 40 (+0.01%)
Nikkei 225 (+0.24%)
Hang Seng (+0.59%)
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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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