Global Event Update 21.10.2013 US indices closed out the week in positive territory, with the S&P 500 extending gains to a new high, as Wall Street cheered some better-than-expected corporate earnings results. All three major averages logged strong gains for the week, with the S&P 500 and Nasdaq posting their best weekly rally in three months. Chicago Federal Reserve Bank President Charles Evans said that he doesnt see any economic signs that allow the central bank to make a move to reduce its massive bond-buying program. European equities staged a broad-based rally to close higher on Friday at a five-year high, as investor confidence was buoyed by Chinese growth data and expectations that the U.S. Federal Reserve will keep monetary stimulus unchanged for months. Asian indices have kicked off the week higher today as investors took cues from the S&P 500s record high last week. Japans Nikkei rose to a three-week high while Australias and South Koreas indices hit new multi-year highs. Japans exports rose 11.5% in September from a year earlier, below expectations for a 15.6% rise, data released today showed. Imports rose 16.5% in September, versus analysts expectations in a Reuters poll for a 20% increase. A snapshot of Chinese manufacturing activity this month is expected to be on the radar for Asian markets this week, alongside the latest Japanese inflation numbers and GDP data out of South Korea. The September U.S. non-farm payrolls report, which was delayed by the 16-day partial U.S. government shutdown, is now scheduled for release on Tuesday and is likely to be a key focus for global markets. The HSBC flash China Purchasing Managers Index (PMI) for October is due out on Thursday. Brent crude is trading at $110/bbl levels while gold is trading at $1317/ounce levels. ibis...
Posted on: Mon, 21 Oct 2013 04:59:49 +0000
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