The euro dropped against most major currencies on Friday, after a German court referred a decision on the legality of the European Central Bank’s bond purchases to Europe’s top court, creating uncertainty about the region’s rescue program. The euro EURUSD -0.13% dropped to $1.3570, compared with a high of $1.3597 earlier in the day and $1.3588 late Thursday in North America.
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The ADP data triggered a choppy session for Wall Street on Wednesday, and the S&P 500 SPX +1.24% closed down 3.56 points, or 0.2%, at 1,751.64. The index is 5.2% below a peak reached on Jan. 15, after a bout of recent selling. Click Here To Register For Free Trial Services
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Twitter Inc. TWTR -17.92% shares tumbled late Wednesday after the company reported weaker than expected user growth and timeline views. Twitter said it had 241 million monthly active users in the fourth quarter, lower than the consensus expectation of 249 million. Twitter's timeline views also reached 148 billion in the quarter. Analysts were expecting nearly 174 billion. Revenue and earnings were "good, but users and timeline views were weak," Wedbush analyst Shyam Patil told.Twitter shares were down 11% after hours. Click Here To Register For Free Trial Services
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U.S. stocks on Tuesday recovered from prior-day losses — the S&P 500 SPX +0.76% and Dow Jones Industrial Average DJIA +0.47% closed Monday with the biggest drops since June 20 — and Treasurys fell.
The dollar USDJPY -0.24% rose to ¥101.67 from ¥100.92 late Monday. The dollar fell below the ¥101 level in the prior session after data showed the U.S. manufacturing sector expanded at a sharply slower pace in January than expected, with manufacturers blaming unusually cold weather conditions for the decline. Click Here To Register For Free Trial Services
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It came a bit earlier than I anticipated, but
nevertheless we’re probably pretty much halfway through the correction.
We should see support levels between the 1,710 -1,720 range on S&P.
If that were to fail, then we’d go down to 1,675 range,” Cardillo said.
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Oil futures topped $98 a barrel on Thursday, closing at their highest level of the year following news of strong growth in the U.S. economy. Natural-gas futures, however, gave back most of the previous session's nearly 11% surge. March crude CLH4 -0.31% rose 87 cents, or 0.9%, to end at $98.23 a barrel on the New York Mercantile Exchange. March natural gas sank 45 cents, or 8.3%, to settle at $5.01 per million British thermal units. Click Here To Register For Free Trial Services
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The dollar USDJPY +0.24% fell to ¥102.19 from ¥103.33 level late Tuesday. The yen is likely to strengthen against the dollar as turmoil in emerging markets continues, according to a note from Bank of America Merrill Lynch. Click Here To Register For Free Trial Services
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Wall Street finished Tuesday’s session with the best gains in two weeks. The S&P 500 closed up 0.6% to 1,792.50, and the Dow industrials DJIA -1.19% ended the session up 0.5% to 15,928.56, breaking a five-day skid. Turkey is the tree — U.S. growth slowing is the new forest. New-home
sales and new orders were nasty slowdowns,” said McCullough.
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After a gain of some 83 points futures for the Dow industrials DJH4 +0.19% were down 127 points at 15,749. Those for the S&P 500 index SPH4 +0.25% lost 14 points to 1,774.30, while futures for the Nasdaq-100 index NDH4 +0.30% fell 29.75 points to 3,471.25. Click Here To Register For Free Trial Services
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Crude futures on the New York Mercantile Exchange also gained, outperforming the rise in Brent crude as traders waited for weekly petroleum-supply data that is expected to show a steep drawdown in distillate inventories. As of the week ended Jan. 17, working gas in storage totalled 2.423 trillion cubic feet, according to the U.S. Energy Information Administration, down about 13% from the five-year average. Click Here To Register For Free Trial Services
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Wall Street finished a volatile session lower on Monday. The S&P 500 SPX +0.61% ended down 8.73 points, or 0.5%, to 1,781.56 in late trade as downbeat home-sales data weighed on investors, after briefly venturing into positive territory. The Nasdaq Composite COMP +0.35% was the worst-performing index on Monday. Click Here To Register For Free Trial Services
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The British pound GBPUSD +0.20% rose to $1.6606 from $1.6580 late Monday in North America. In other action among currency majors, the dollar USDJPY +0.09% rose to 102.68 Japanese yen from ¥102.58 late Monday in North America. The euro EURUSD +0.10% , meanwhile, edged up to $1.3679 from Click Here To Register For Free Trial Services
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The Asian markets are tumbling on concerns that a reduction in the U.S. central bank’s stimulus efforts may trigger capital outflows. Amid a sell-off in emerging market assets, investors are seeking safety in U.S. Treasuries, the Japanese yen and gold. Gold rallied to a two-month high, extending its longest run of weekly gains since September 2012, while the yen climbed to a seven-week high against the dollar.
China’s Shanghai Composite is down 0.9 percent, Hong Kong’s Hang Seng is losing 2.1 percent, Indonesia’s Jakarta Composite index is tumbling 2.7 percent, Japan’s Nikkei index is declining 2.5 percent and South Korea’s Kospi is down 1.7 percent. The Australian market is closed for a public holiday. Click Here To Register For Free Trial Services
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Meanwhile, the Australian dollar AUDUSD +0.23% rose modestly to 87.15 U.S. cents from Friday’s 87.03 U.S. cents. The greenback on Monday bought 2.3251 Turkish lira USDTRY -0.35% , easing from 2.3376 lira on Friday, when the dollar recorded its 10th consecutive win against the currency. The lira has been dogged by a government corruption scandal that’s prompted mass protests calling for the resignation of Prime Minister Recep Tayyip Erdogan. Click Here To Register For Free Trial Services
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The day before, the S&P 500 SPX -2.09% lost 0.9%, while the Dow industrials DJIA -1.97% sank to the lowest level in five weeks, dropping 1.1%. The Nasdaq Composite COMP -2.15% fell 0.6%. All were hit by a surprise contraction in China’s manufacturing sector, which came on top of worries about the country’s financial sector and fed concerns about a possible spillover to the rest of the global economy. Click Here To Register For Free Trial Services
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Gold for February delivery GCG4 +0.23% rose $2.70, or 0.2%, to $1,242.90 an ounce in electronic trade. March silver SIH4 +0.30% rose 9 cents, or 0.5%, to $20.15 an ounce. A day earlier, gold futures put an end to their mild losing streak, thanks to a decline in U.S. stocks and weakness in the dollar DXY +0.07% that helped prices score for their first gain in three sessions. Click Here To Register For Free Trial Services
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The euro EURUSD -0.07% traded at $1.3615 compared with $1.3619 late Thursday in North America, while the yen also moved sideway, with dollar USDJPY +0.01% at ¥104.33, little changed from ¥104.29.
The British pound GBPUSD -0.14% declined modestly to $1.6343 from $1.6359 ahead of a retail-sales report from the Office for National Statistics for December that should provide insight on spending trends during the key holiday-shopping season. Click Here To Register For Free Trial Services
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Apple Inc. AAPL -0.04% gave up 1.3% to close at $536.52. Bloomberg reported that Apple rival Samsung is preparing for a spring release of its new Galaxy S5 smartphone, which may include eye scanning technology for the first time. Losses also came from Seagate Technology STX +0.57% , down 2.7% to close at $58.01; Arm Holdings Plc ARMH +0.14% , off by almost 8% at $48.79 and Groupon Inc. GRPN -0.44% , which fell nearly 3%, to $11.44 Click Here To Register For Free Trial Services
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The Hang Seng Index HK:HSI +0.34% reversed course and rose 0.2% to 22,841.80, and the Hang Seng China Enterprises Index edged up 0.1%. But underperforming the market were shares of Standard Chartered PLC HK:2888 -1.55% UK:STAN -2.17% , which fell 1.6% in the wake of the bank's plan to shake up operations, with the integration of its wholesale banking and consumer banking businesses. Shares of banking firm HSBC Holdings PLC HK:5 +0.06% , however, rose 0.3%, limiting downside for the Hang Seng Index. Meanwhile, shares of Aluminum Corp. of China Ltd., or Chalco HK:2600 -1.15% ACH +0.12% CN:601600 +1.59% , shed 0.8% after aluminum producer Alcoa Inc.'s AA -4.30% quarterly results missed Wall Street expectations. On the mainland, the Shanghai Composite Index CN:SHCOMP -0.49% rose 0.3%. Click Here To Register For Free Trial Services
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The reaction in the British pound to such a potential change in forward guidance would be a decline in the sterling, with the euro rising to the mid-84 level against the pound, he added. One euro EURGBP +0.05% recently bought 0.8246 pound. Click Here To Register For Free Trial Services
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