GOOD MORNING MARKETS WORLD VIEW USA Treasury 10 Year Yield 1.91% +0.02% UK Gilt 10 Year Yield 1.50% +0.00%, Spot Gold $1259.40 -2.1% Brent Crude $48.52 +0.52% The S&P 500 fell -0.9% to 1,992.67 The NASDAQ 100 Index retreated by -1.4% to 4,570.82 The Dow Jones Industrial Average lost -0.6% to 17,320.71 The FTSE 100 is called to open lower by -0.5% at 6455. The Hang Seng China opened negative by -1.02% to 24,103.52 The Nikkei 225 Japan is down by -1.43% to 16,864.16 COMMENTARY U.S. stocks fell for a fifth straight day as banks and Best Buy Co. slid after corporate earnings disappointed, while Apple Inc. paced a decline in technology shares. Bank of America Corp. and Citigroup Inc. fell at least 3.7 percent as both banks reported a drop in fourth-quarter profit as revenue from fixed-income trading declined. Best Buy tumbled 14 percent as the largest electronics retailer warned that price pressure and sluggish demand may hamper results in the coming year. A gauge of homebuilders plunged the most since June 2013. Equity futures fluctuated earlier in the day after Switzerland’s central bank unexpectedly gave up its minimum exchange rate. The Nasdaq 100 Index retreated 1.4 percent as Apple declined 2.7 percent. About 7.9 billion shares traded hands on U.S. exchanges, 16 percent above the three-month average. A decline in American retail sales combined with a slump in copper prices weighed on stock markets yesterday, causing the S&P 500 to have its worst start to the year since 2009. LOOKING LOCAL JSE All-Share is up by +0.37% to 48,413. JSE Top 40 in the positive by +0.43% to 42,395.95 COMMENTARY THE JSE opened lower on Friday morning as it took its cue from weaker Asian markets and a softer New York close overnight. Risk-averse trade is expected on Friday in the wake of the Swiss National Bank’s unexpected decision to abandon the cap on the Swiss franc’s value against the euro. US equity futures are pointing to a sixth straight session of losses. We could, in fact, be in for a few weeks of volatility as next week sees the European Central Bank (ECB) meeting and the Greek elections, and the week after that the (US Federal Reserve) meeting. CURRENCIES CHECK 16/01/2015 USD/RAND R11.55 GPB/RAND R17.57 EURO/RAND R13.43 Complied by Gareth Chamier
Posted on: Fri, 16 Jan 2015 11:26:16 +0000
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