Markets Continue To Yo-Yo

Published by Filipe R. Costa on Wed, 22/08/2012 - 12:12
yo-yo

Daily Market Commentary for August 22: European equities ended higher yesterday on hopes the ECB may start intervention to save the Euro but during the US session, enthusiasm faded.

S&P 500 was near multi-month highs yesterday but during the afternoon, equities lose strength and ended the day at lows. The Dow closed down 0.51% and the S&P ended lower 0.35%.

This morning equities continue on the dark side and are easing a little more from yesterday’s highs. At the moment, the FTSE is trading around 5,785. The meeting between Juncker and Samaras was postponed and markets aren’t reacting well, but the main reason for the downtrend that has just started is not Greece but earnings and economic indicators. Japan saw its exports sinking more than expected as the strong yen and the international recession is hurting Japanese exporters. Earnings in the US were not as good as in other days with Dell disappointing and warning about the future, as sales of personal computers are slowing.

Name Last price Close Price % 5-Day %
CAC 40 21/08/2012 3513.28 0.94 1.83
Crude oil (Light Sweet) Composite 21/08/2012 96.8 0.67 4
DAX (Xetra) 21/08/2012 7089.32 0.79 1.65
Dow Jones Industrial Average 21/08/2012 13203.6 -0.51 0.24
EUR/GBP - £ per Euro 21/08/2012 0.7908 0.6 0.57
EUR/USD - US$ per Euro 21/08/2012 1.2478 1.02 1.25
FTSE 100 21/08/2012 5857.52 0.57 -0.12
FTSE MIB 21/08/2012 15330.5 2.39 4.6
GBP/USD - US $ per £ 21/08/2012 1.5778 0.43 0.66
Gold (LBM) $ 21/08/2012 1639.5 1.25 2.39
IBEX 35 21/08/2012 7544.5 1 5.89
Nasdaq 100 Index 21/08/2012 2772.2 -0.44 1.63
Nikkei 225 21/08/2012 9157 -0.16 2.54
S&P 500 21/08/2012 1413.17 -0.35 0.66
Silver (LBM) $ 21/08/2012 29.34 3.13 5.54
USD/JPY - JPY per US$ 21/08/2012 79.25 -0.13 0.53