MAJOR EVENTS FOR THE UPCOMING WEEK THAT YOU SHOULD BE WATCHING:
|Monday, April 27, 2015|
|Tuesday, April 28, 2015|
|GBP||GDP (QoQ) (Q1)|
|USD||CB Consumer Confidence (Apr)|
|Wednesday, April 29, 2015|
|USD||GDP (QoQ) (Q1)|
|Thursday, April 30, 2015|
|NZD||Interest Rate Decision|
|EUR||German Unemployment Change (Apr)|
|EUR||CPI (YoY) (Apr)|
|RUB||Interest Rate Decision (Apr)|
|CAD||GDP (MoM) (Feb)|
|Friday, May 1, 2015|
|CNY||Manufacturing PMI (Apr)|
|GBP||Manufacturing PMI (Apr)|
|USD||ISM Manufacturing PMI (Apr)|
The Nasdaq Composite advanced Thursday to a record close, its first since March 10, 2000. The tech-heavy index rose 0.4 per cent to close at 5056.06, surpassing its previous all-time high of 5048.62. The NASDAQ’s gains this year have outpaced advances in the Dow industrials and S&P 500. The NASDAQ has rallied 6.8 per cent in 2015 through Thursday’s close, while the Dow has added 1.3 per cent and the S&P has advanced 2.6 per cent. Over the last 12 months, the NASDAQ has surged 22 per cent, more than twice the Dow’s 9.4 per cent gain. On Friday the index’s rise was driven primarily by a number of solid corporate earnings reports.
The S&P 500 climbed 5 points, or 0.2 per cent, to 2,118 and the Dow Jones Industrial Average added 21 points, or 0.1 per cent, to 18,080.
Google said its revenue took a hit from the rising dollar in the first quarter, as the company generates more than 55 per cent of its revenue outside the US But shares rose 3.5 per cent as better expense control boosted profit margins.
Amazon.com Inc. swung to a first-quarter loss despite rapidly rising sales, as it continued to spend heavily to fund a variety of projects. Shares of the e-commerce giant rallied 15 per cent.
European stock markets closed higher Friday on hopes embattled Eurozone member Greece will take strides towards a debt deal to unlock bailout money. London’s benchmark FTSE 100 ended the day 0.24 per cent higher at 7,070.70 points, while in Paris the CAC 40 finished 0.44 per cent ahead at 5,201.45 points. Frankfurt’s benchmark DAX 30 index closed up 0.74 per cent at 11,810.45 points, helped by data showing German business confidence at a 10-month high.
The US dollar has extended its losses on a run of weaker-than-expected US economic data, helping prop up the euro despite lack of progress in Greece bailout talks. The government report on US durable goods orders was the latest to raise questions about the Federal Reserve’s planned interest rate increase. While the headline number rose 4.0 per cent in March that was driven by jumps in civilian and military aircraft and autos; without them orders fell 0.2 per cent.
The greenback was quoted at 119.56 yen, slightly up from 119.55 yen in New York but well below the 120.10 yen touched earlier Thursday. The euro was trading in narrow range after it strengthened ahead of a Eurozone finance ministers meeting as Greece seeks to strike a deal with its international creditors to avert a default.
The single currency bought $1.0790 and 129.01 yen, down from $1.0823 and 129.39 yen in US trade. The Federal Reserve has ruled out raising interest rates when it meets next week, but policymakers have left the door open to a move in June, largely depending on the state of the world´s top economy. Official data Thursday showed fresh claims for US unemployment insurance benefits edged up marginally, while sales of new homes plunged in March after a sharp rise in February.
Gold closed lower to tally a loss of more than 2 percent for the week as investors looked ahead to the Federal Reserve’s policy meeting next week. June gold fell 1.6 percent to settle at $1,175 an ounce. Prices, based on the most-active contracts, fell about 2.4 percent for the week.
In energy trading, U.S. oil futures finished with a loss today, but scored a gain of more than 2 percent for the week on concerns about crude supplies in the Middle East. June crude settled at $57.15 a barrel on the New York Mercantile Exchange, down 1 percent. Based on the front-month contracts, prices were up around 2.5 percent for the week.
In Yemen, while reports emerged of fresh airstrikes on weapons depots and other military installations by Saudi Arabia yesterday, an Iranian flotilla reportedly departed from the Gulf of Aden, which reduced the risk of a conflict at sea.