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

 

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Women's Affairs: Government Accepts Recommendations On Pay Equity

The Government will update the Equal Pay Act and amend the Employment Relations Act to implement recommendations of the Joint Working Group on Pay Equity. More>>

ALSO:

Immigration: Increase In Seasonal Workers For RSE

The current cap will be increased by 1,000 from 9,500 to 10,500 RSE workers for the 2016-17 season. Mr Woodhouse says the horticulture and viticulture industry is New Zealand’s fourth largest export industry, producing almost $5 billion in exports. More>>

ALSO:

Hurunui: Crown Irrigation Invests Up To $3.4m In North Canterbury

Crown Irrigation Investments will invest up to $3.4m in the Hurunui Water Project, an irrigation scheme that will be capable of irrigating up to 21,000 hectares on the south side of the Hurunui River in North Canterbury. More>>

ALSO:

Not So Great:Butterfly Eradication Success

The invasive pest great white butterfly has been eradicated from New Zealand in a world-first achievement, Primary Industries Minister Nathan Guy and Conservation Minister Maggie Barry say. More>>

Gordon Campbell: On The Government’s Tax Cuts Fixation

Long before the earthquake hit, the dodginess of the government tax cuts programnme was evident in the language of its packaging. It is being touted as a “tax cuts and family care” package... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news