Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Mixed data sees equity markets lower

Mixed data sees equity markets lower


By Tracey Warren (Stockbroking BDM, CMC Markets Stockbroking)

Mixed economic data kicked off the first full week of trade for the US which saw stocks lower in modest volumes. With a climatic rally to sign off 2013, overbought conditions saw the S&P 500 chalk up a fourth straight month of gains in December. Stumbling out of the gates in 2014, the index has fallen more than one percent in January thus far, to close at 1,826.77 overnight. The Dow Jones Industrial Average also felt some pressure ending the session down 44.89 points at 16,425.10.

Disappointing Chinese data saw the Australian dollar come under some short-lived pressure in the local session suffering a brief fall back to .8935 against the Greenback. China’s service sector growth slowed in December with the HSBC PMI index falling sharply to 50.9 - its lowest read since August 2011.

A modest economic recovery is still the case for the US as weaker than expected US service sector growth numbers saw the EUR and the Yen gain against the Greenback. Factory orders for November painted a rosier picture increasing 1.8 percent on the month.

Shipping delays out of Libya saw oil prices lower with Brent crude futures ending a fifth straight session lower. Spot gold closed marginally higher at US 1241.40 an ounce. The precious metal has rallied three percent in 2014.

Today domestically, International Trade figures will be released for November. Tonight will see Trade balance figures for the US and Canada along with CPI flash estimate figures for the Eurozone. The focus however, will remain on US non-farm employment figures due on Friday.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Industrial Action: Stats NZ Throwing Public Money Away Duplicating Data

The Public Service Association (PSA) says Statistics NZ are throwing money away by collecting the same data twice for official statistics such as the Consumer Price Index... As part of the ongoing industrial action, field interviewers who are PSA members are continuing to collect data, but are not sending it through to Statistics NZ. More>>

ALSO:

Other Stats:

Space: Rosetta's 'Philae' Makes Historic First Landing On A Comet

After more than a decade traveling through space, a robotic lander built by the European Space Agency has made the first-ever soft landing of a spacecraft on a comet. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news