Market Factors to Watch | Monday, 4 August 2014 ==================================== GLOBAL MARKETS ==================================== • US MARKETS — U.S. stocks cut earlier loss but still closed lower Friday, as investors remained cautious after the market took a toll the previous day. The Dow Jones Industrial Average lost 69.93 points, or 0.42 percent, to 16,493.37. The S&P 500 declined 5.52 points, or 0.29 percent, to 1,925.15. The NASDAQ Composite Index fell 17.13 points, or 0.39 percent, to 4,352.64. All the three indices finished the week sharply lower. The Dow notched the biggest weekly loss in more than six months and the S& P 500 logged the largest weekly drop in over two years. On the economic front, some 209,000 new jobs were added to the U.S. economy in July following an upwardly revised 298,000 gain the prior month, marking the sixth consecutive month of more than 200,000 job gains. Meanwhile, unemployment rate was little changed at 6.2 percent in July from 6.1 percent in June. • US TREASURIES — U.S. Treasuries prices gained on Friday after jobs data eased concerns about rising wage inflation, and reduced expectations that the Federal Reserve may act sooner than some had anticipated to increase interest rates. Yields have risen since strong growth of gross domestic product for the second quarter, reported on Wednesday, buttressed sentiment that the economy is gaining momentum. Data on Friday, however, showed that average hourly earnings rose only one cent. The figure is closely monitored as a potential signal of reduced slack in the labor market that could prompt the Fed to raise rates. The Benchmark 10-year U.S. Treasury note yield down to 2.52 percent, from 2.58 percent before the jobs data was released. • FOREX — The U.S. dollar declined against most major currencies on Friday as weaker-than-expected nonfarm payroll report drove speculations that the Fed may keep the ultra low interest rates for longer. In late New York trading, the euro rose to 1.3428 dollars from 1.3390 dollars of the previous session. The dollar bought 102.55 Japanese yen, lower than 102.84 yen of the previous session. • GOLD — Gold futures on the COMEX division of the New York Mercantile Exchange bounced back on Friday. The most active gold contract for December delivery rose 12 dollars, or 0.94 percent, to settle at 1,294.8 dollars per ounce. • OIL — Crude prices in New York tumbled to the lowest settlement since Feb. 6 after data showed the U.S. non-farm payroll grew at a slower pace and the jobless rate ticked up slightly on Friday. Light, sweet crude for September delivery moved down 29 cents to settle at 97.88 U.S. dollars a barrel on the New York Mercantile Exchange. For the week, the crude dropped 4.1 percent, marking the largest weekly fall since January while Brent crude for September delivery lost 1.18 dollars to close at 104.84 dollars a barrel. • NIKKEI — The Nikkei stock index lost 0.63 percent Friday as concerns over interest rates in the United States triggered an overnight rout on Wall Street, although a firm U.S. dollar and strong Chinese economic data helped to trim losses on the last trading day of the week. The benchmark Nikkei 225 dropped 97.66 points to close at 15, 523.11. =================================== MALAYSIA ==================================== • PALM OIL — Malaysian palm oil futures rose on Friday, recording their first weekly gain in five and their biggest since late April, as a weaker local currency spurred buying interest for the ringgit-denominated palm feedstock. The Malaysian ringgit was at 3.2090 per dollar after having slid 1.1 percent this week, as caution mounted ahead of the U.S. jobs data, making margins more attractive for overseas investors and refiners. The benchmark October contract on the Bursa Malaysia Derivatives Exchange had inched up 1.2 percent to 2,283 ringgit ($711) per tonne by Fridays close, gaining 0.8 percent this week. Cargo surveyor Intertek Testing Services put shipments of Malaysian palm oil products 2.8 percent lower in July than in June, due to smaller purchases from China. Another cargo surveyor will release data for the same period today. • COMPETING VEGOIL — In competing vegetable oil markets, the U.S. soyoil contract shed 0.3 percent in late Asian trade on Friday, while the most active soybean oil contract on the Dalian Commodities Exchange fell 0.7 percent. • FBM KLCI — Share prices on Bursa Malaysia closed lower Friday, weighed down by losses in selected blue-chips and heavyweights. The benchmark FBM KLCI ended 8.02 points easier at 1,863.34, after moving between 1,861.6 and 1,868.01 throughout the day. ==================================== CLOSING PRICES FOR US MARKET Friday, 1 August 2014 ==================================== • DJIA Down 69.93 points at 16,493.37 • NASDAQ Down 17.13 points at 4,352.64 • S&P 500 Down 5.52 points at 1,925.15 • US Soybean Oil (Dec 14) Down -0.69 points at 35.71 dollars per metric ton. • NYMEX Light Sweet Crude Oil (WTI) (Sep 14) Down -0.29 points at 97.88 dollars a barrel. • US COMEX Gold (Dec 14) Up +12.0 points at 1294.8 dollars an ounce. ==================================== CLOSING PRICES FOR CHINA MARKET Friday, 1 August 2014 ==================================== • DALIAN SOYBEAN (Jan 15) closed up 42 at 4470 • DALIAN SOYBEAN OIL (Jan 15) closed down 42 at 6416 • DALIAN PALM OIL (Jan 15) close unchanged at 5656 ==================================== CLOSING PRICES FOR MALAYSIA MARKET Friday, 1 August 2014 ==================================== • FGLD (August 14) closed down 0.60 at 133.00 • FGLD (Sep 14) closed down 0.70 at 133.05 • FCPO (October 14) closed up 26 at 2,283 • FKLI (August 14) closed down 8.5 at 1,858.0 • FBM KLCI closed down 8.02 at 1,863.34
Posted on: Mon, 04 Aug 2014 01:58:47 +0000
Trending Topics
Recently Viewed Topics
© 2015