OCT 20th - COMMODITIES - MARKET OVERVIEW OCT 20th GOLD NEAR 1-MONTH HIGH AS DOLLAR SLIPS, STOCKS REBOUND - NATURAL GAS SAGS BELOW $3.70 Gold rallied, while energy and grains sagged yesterday. At the same time, stocks shrugged off a weak earnings report from tech giant IBM to end higher. The S&P 500 topped the 1,900 level, up close to 1 percent on the day. IBM is just one of many companies that will report earnings this week. According to CNBC, 20 percent of S&P 500 companies will announce earnings in the next five days. Up until now, 81 companies have reported, with 64 percent bearing analyst expectations. On the economic front, news flow was light yesterday; no notable data was released. The biggest data of the week will come out on Tuesday, when the U.S. will release CPI inflation data, and China will release third-quarter GDP figures. Taking a look at currency markets, the U.S. Dollar Index was last trading down by 0.23 percent to 84.92. In bond markets, the U.S. 10-year yield fell by 1 basis point to 2.18 percent.
Posted on: Tue, 21 Oct 2014 02:43:07 +0000
Trending Topics
Recently Viewed Topics
© 2015