Wall Street opened higher on Wednesday, helped by rising overseas stocks. At the session start, the S&P 500 Index gained 0.24%, opening at 2,164.00, whereas the Dow Jones Industrial Average Index advanced 0.29% to open at 18,533.75 points, and the Nasdaq Composite Index increased 0.26% to start at 5,052.02 points.
West Texas Intermediate futures traded 0.90% lower at $44.25 per barrel, whereas Brent futures traded 0.34% lower at $46.50 per barrel by 12:50 GMT on Wednesday. Meanwhile, gold prices dropped 1.17%, trading at $1,316.70 per troy ounce, and silver prices fall 2.13%, trading at $19.58 per ounce.
Switzerland's economy entered the Q3 2016 with a downgraded growth forecast. A survey by the ZEW Institute and Credit Suisse Group showed on Wednesday that Switzerland's Economic Sentiment Index dropped to 5.9 in July, following the previous month's reading of 19.4 points, its best result since February 2014.
The unemployment rate in Britain fall to 4.9% in May, almost in line with the previous month's reading of 5.0%, the Office for National Statistics said on Wednesday. Meanwhile, average weekly earnings posted an increase of 2.2% not including bonuses in May, while the indicator rose 2.3% including bonuses. The number of people filing for unemployment aid grew by 400
Wall Street opened slightly lower on Tuesday, ignoring housing data released earlier today. At the session start, the S&P 500 Index dropped 0.27% to 2,161.00, whereas the Dow Jones Industrial Average Index lost 0.08% to open at 18,517.90, and the Nasdaq Composite Index declined 0.26% to start at 5,042.90 points.
On a month-on-month seasonally-adjusted basis, US housing starts rose 4.8% to 1.189 million in June, compared to analysts' expectations of an increase to 1.1150 million. In addition, building permits grew 1.5% to 1.153 million in the same period, whereas market analysts anticipated a rise to 1.165 million, the US Census Bureau said on Tuesday.
The mood among German analysts and investors worsened due to uncertainty created by the recent Brexit vote. The Investor Confidence Index calculated by the ZEW economic institute came in at -6.8 in July, following the previous month's reading of 19.2 points, according to fresh figures released on Tuesday. Market analysts anticipated a decrease to 9.0 in the reported month.
The British CPI rose 0.2% month-over-month in June, in line with the previous month's reading and the market forecast. On an annual basis, the inflation rate increased 0.5% in June, whereas analysts expected the reading to at the previous month's 0.3%. Meanwhile, the country's core CPI grew 1.4% year-over-year in the reported month, following May's 1.2% and surpassing the 1.3%
Wall Street opened Monday's trading session slightly higher. At the session start, the S&P 500 Index increased 0.04% to 2,162.67, whereas the Dow Jones Industrial Average Index declined 0.03% to open at 18,523.02, and while the Nasdaq Composite Index advanced 0.10% to start the day at 5,034.75 points.
West Texas Intermediate futures traded 1.02% lower at $45.48 per barrel, whereas Brent futures traded 1.07% lower at $47.10 per barrel by 12:40 GMT on Monday. Meanwhile, gold prices advanced 0.08% to trade at $1,328.40 per troy ounce, and silver prices dropped 1.21% to trade at $19.92 per ounce.
Last week's decision of the Reserve Bank of Australia to keep its key interest rate on hold at 1.75% helped to strengthen the Australian Dollar. On Monday, the Aussie rose 0.25% against its US counterpart, trading at $0.76 on by 12:25 GMT on the London Stock Exchange. Australian CPI figures for the Q2 2016 are scheduled to be released on
Consumer prices in the Euro zone rose 0.2% on an annual basis in June, following the 0.1% drop seen in the previous month, latest data from Eurostat revealed on Friday. On a monthly basis, the common currency bloc's CPI increased 0.2% , meeting analysts' expectations but falling behind last month's reading of 0.4%.
China's economy grew 6.7% on an annual basis in the Q2 2016, unchanged from the previous three-month period, fresh figures from the National Bureau of Statistics of China showed on Friday. In the meantime, market consensus was for a 6.6% Real Gross Domestic Product increase in the reported period.
Retail sales in the US rose 0.6% month-over-month in June, up from last month's increase of 0.2%, whereas analysts anticipated a drop to 0.1%. Other data on Friday showed that the Empire State Manufacturing Index for June rose to 0.55 from May's drop of 9.02, while markets penciled in an increase to 5.00 in the reported month.
In the United States, consumer prices rose 0.2% on a monthly basis in June, remaining at the same level compared to the previous month and meeting analysts' estimates. Year-over-year, the CPI increased 1.0%, unchanged from one month earlier, whereas market analysts penciled in an acceleration to 1.1% in the reported period.
Industrial output in China increased 6.2% year-over-year in June, up from the previous month's reading of 6.0%, latest data from the National Bureau of Statistics showed on Friday. Meanwhile, market analysts anticipated a slight decrease to 5.8% in the reported month. It was the highest reading since March.
Producer prices in the United States rose 0.3% on an annual basis in June, following the 0.1% drop seen in the previous month, while analysts anticipated an unchanged figure in the reported month. On a monthly basis, the PPI increased 0.5%, up from May's 0.4%, whereas market analysts expected the Index to fall to 0.3% in June.
The number of Americans filing for unemployment aid booked 254,000 in the week ended July 9, unchanged from last week's 254,000, whereas market analysts anticipated an increase to 265,000 claims in the reported week, fresh figures from the Department of Labor showed on Thursday. This marks 71 consecutive weeks of initial jobless claims below 300,000, the longest streak since 1973.
Wall Street opened elevated on Thursday amid the release of better than expected US weekly initial jobless claims and PPI data. At the session start, the S&P 500 Index jumped 0.59% to 2,165.09, whereas the Dow Jones Industrial Average Index gained 0.67%, opening at 18,494.87, and the Nasdaq Composite Index advanced 0.70%, starting at 5,040.87 points.
Canadian new home prices grew 0.7% month-over-month on a non-seasonally adjusted basis in May, surpassing the previous month's hike of 0.3%, whereas market analysts predicted a slight fall to 0.2% in the reported month, fresh data from Statistics Canada showed on Thursday. The NHPI increased for 14 consecutive months.
The Bank of England decided to keep its key interest rates at 0.50% on Thursday, whereas analysts expected the central bank to cut its Bank Rate to 0.25 %, following the June 23 referendum. Once the data was released, the British Pound advanced 2% against the US Dollar, trading at $1.34 on the London Stock Exchange.
Major US stock indices opened in the green on Wednesday. At the session start, the S&P 500 Index jumped 0.18%, opening at 2,155.92, whereas the Dow Jones Industrial Average Index increased 0.17% to start at 18,378.76, and the Nasdaq Composite Index gained 0.25% to open the trading day at 5,035.20 points.
US import prices rose 0.2% in June, compared to the 1.4% growth seen in the previous month, when the Import Price Index posted the largest increase since March 2012, fresh data from the Department of Labor showed on Wednesday. Meanwhile, analysts expected the 0.5% gain in the reported month. The indicator remained in expansion territory for four consecutive months.
Japan's industrial production dropped 2.6% on a month-over-month seasonally adjusted basis in May, final numbers from the Ministry of Economy, Trade and Industry showed on Wednesday, following the 0.5% increase seen in the previous month. Analysts expected the country's industrial output to fall 2.2% in the reported month.