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

 

Trade Agreements: TPP Minus US Starting To Gain Ground

The Japanese government is picking up the pace on reviving the Trans-Pacific Partnership trade and investment deal, with talks scheduled next month among the 11 countries left in the pact after the withdrawal by the US after the election of president Donald Trump. More>>

ALSO:

PACER:

Prices Up 2.2%: Annual Inflation Highest In Over Five Years

"Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. "Petrol prices in New Zealand are closely linked to global oil prices, and cigarettes and tobacco taxes rise in the March quarter each year". More>>

ALSO:

Undertaxed? NZ Income Tax Rate Second Lowest Among Developed Nations

New Zealand workers pay the second smallest portion of their income to the government among developed nations and less than half the average ratio of their Organisation for Economic Cooperation and Development peers. More>>

ALSO:

Cyclone Cook: Round Up Of This Week’s Weather

One of the significant impacts this week was flooding due to excessive rainfall amounts. Rainfall amounts topped out at 350mm over the past 60 hours in parts of northwest Nelson, with 200mm+ measurements recorded about Coromandel Peninsula, and between 150-200mm in the Kaimai Ranges. Rainfall amounts of between 30-50mm were commonplace elsewhere. More>>

ALSO:

Earlier: Batten Down The Hatches For Cyclone Cook

Although fast-moving, Cyclone Cook will be destructive and MetService Expert Meteorologists have issued Severe Wind Warnings for the whole of the North Island apart from Northland... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news