Market Overview

Benzinga's Market Primer-Friday, August 17

U.S. stock markets are trading either side of unchanged in listless early morning trading. Stock index futures are pointed to a mixed opening on Wall Street as of 7AM ET, with futures for the S&P 500 down 0.08 percent to 1412.20, Dow Jones futures are up 0.05 percent to 13223 and NASDAQ 100 futures are up 0.17 percent to 2768.2.

Asia/Pacific Rim Markets

Chinese stock markets were up slightly, buoyed by U.S. housing data. The Shangai Index had seven up stocks to every 5 down stocks. On the week the Shanghai Index lost 2.5 percent. The Hang Seng closed up three-quarters of a percent, in quite Friday trading. The Nikkei 225 Index advanced for the second consecutive week on the heels of U.S. housing permits which reached a four year high. German Chancellor Angela Merkel reiterated her commitment to working with the Euro Central banks. The comments help lift share prices in Tokyo.

  • Shanghai closed at 2,016,12 up 2.69 points or 0.13 percent
  • Hang Seng Index closed at 19,962.95 up 153.12 points or 0.77 percent
  • Nikkei 225 closed at 9,162.50 up of 69.74 points or 0.77 percent
  • TSEC closed at 7,467.21 a loss of 22.29 points or 0.30 percent

Europe/UK Markets

European stock markets have advanced to five-month highs amid optimistic comments made by Angela Merkel. The German Chancellor renewed her support of ECB's insistence to reduce borrowing costs to indebted countries.

The European exports rose to a seasonally adjusted 2.4 percent in June. Europe's economy contracted 0.2 percent in the second quarter as tougher austerity measures pushed at least six member states including Italy and Spain into recession. In the UK, The FTSE 100 was trading higher by 20 points due to Germany's comments.

  • German DAX trading 7,019.87 up 23.90 points or 0.04 percent
  • French CAC 40 trading at 3,488.97 up 7.48 points or 0.29 percent
  • UK's FTSE 100 trading at 5,849.95 up 16.96 or 0.20 percent
  • EURO STOXX 50 was trading 2,471.02 up 127.14 or 1.07 percent

Commodities Summary

  • Brent Oil 113.32 down $1.47
  • WTI Crude Oil 95.14 down $0.44 cents
  • Gold $1618.10 down $0.40
  • Nat Gas $3.064 down 0.0033
  • Silver $28.19 down 2.8 cents
  • Copper $3.825 up 0.033 cents

Currency Rates

  • EUR/USD 1.2346 down 0.0016 (-0.13%)
  • USD/JPY 79.370 up 0.1100 (+0.14%)
  • GBP/USD 1.5708 down 0.0031 (-0.20%)
  • USD/CAD 0.9876 up 0.0015 (+0.15%)
  • AUD/USD 1.0444 down 0.0076 (-0.72%)

U.S. Economics Report

  • 9:55 Michigan Sentiment Index Aug consensus 71.0 last 72.3
  • 10:00 Leading Economic Indicators July consensus 0.2% last -0.3%

Before the Bell

  • Ann Inc (NYSE: ANN)
  • Casual Male (NASDAQ: CMRG)
  • Foot Locker(NYSE: FL)
  • Hibbett Sporting (NASDAQ: HIBB)

Posted-In: News Global Econ #s Economics Intraday Update Markets Movers Trading Ideas Best of Benzinga

 

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