1st August 2014 US Pre-Market Open Update

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1st August 2014 US Pre-Market Open Update

Yesterday saw the main US indexes see its steepest drop since April.

Despite a week which has seen the US economy expand by 4% annualized so far in 2014 reversing the poor performance of the 1st quarter there was some serious volume in the markets yesterday.

Both the S&P 500 and Down Jones lost 2% as many investors looked to lock in some profit the day before key employment data is released.

Although positive, Reuters see's the number of nonfarm payroll jobs being added for July as 237,000 against last month's bumper 288,000. This will be the sixth consecutive month that over 200K job had been added to the market. The drop from June to July could be an indicator that the economy's growth is starting to slow down and may have been the reason why we saw the volumes we did yesterday.

With the Federal reserve reducing their asset buying program again this month, and no real comments on when and how rates will increase in the future has lead many analysts to think rates may be increased sooner than originally thought. Previously seen to be mid to late 2015 now could be as early as the beginning of 2015.

The markets in the US have been bulletproof this past few months with little or no reactions to the tensions in Ukraine, Middle East and Africa to name but a few. With a good second earnings season under their belts and confidence that the US economy is performing well, the hiccup of yesterday could be a thing of the past as we look to next week.

Major Indexes as of 1st August:

Index          % Change          Close/Current

DOW Jones         (-1.88%)          16,653.30

NASDAQ          (-2.09%)          4,369.77

FTSE 100          (-0.75%)          6,679.36

CAC 40          (-0.98%)          4,204.67

DAX          (-0.83%)          9,329.20

Nikkei 225          (-0.63%)          15,523.11

Hang Seng          (-0.99%)          24,512.24

SSE          (-0.74%)          2,185.30

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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.