04:34
SHARE MARKET REVIEW
GLOBAL MARKET UPDATE
ASIAN STOCKS MARKET
Asian stocks rose as Japan’s machinery orders increased more than economists expected and South Korea’s unemployment fell, adding to evidence the region’s economies are withstanding Europe’s debt crisis.
U.S.STOCK MARKET
U.S. stock futures dropped, indicating the Standard & Poor’s 500 Index will pare yesterday’s rally, as investors await a report that may show retail sales declined last month. S&P 500 futures expiring in September slipped 0.2 percent to 1,317 at 6:51 a.m. in New York. The equity benchmark jumped 1.2 percent yesterday, amid speculation the Federal Reserve will take steps to stimulate the economy, with so-called quantitative easing. Dow Jones Industrial Average futures decreased 16 points, or 0.1 percent, to 12,498 today.
EUROPEAN MARKET
European stocks declined as borrowing costs increased at debt auctions by Germany and Italy and as investors awaited a report on American retail sales. U.S. index futures fell, while Asian shares gained.
U.S.TREASURIES
Treasury 30-year securities dropped for a second day before the U.S. sells $21 billion of 10-year notes today and $13 billion of so-called long bonds tomorrow.
Thirty-year yields approached the highest level this month as Barclays Chief Executive OfficerRobert Diamond said the euro will survive even as Europe’s debt crisis slows economic growth, damping demand for the relative safety of U.S. government debt. The decline in Treasuries was tempered before a U.S. report that economists said will show retail sales dropped in May.
CURRENCY UPDATE
DOLLAR
The Dollar Index, which tracks the U.S. currency against those of six trading partners, fell 0.2 percent.
EURO
The euro strengthened against the dollar after the Financial Times Deutschland reported that European leaders may consider relaxing Greece’s austerity program after the June 17 election.
The 17-nation currency also rose versus the yen. A new Greek government, independent of the electoral outcome, will seek amendments to the terms of the bailout
COMMODITY UPDATE
CRUDEOIL
Oil swung between gains and losses in New York as the International Energy Agency said global markets are better supplied than earlier this year and investors speculated U.S. stockpiles probably fell last week.
GOLD
Gold for August delivery in New York declined 0.2 percent to $1,611.20 an ounce at 8:11 a.m. in Melbourne, while immediate-delivery bullion was little changed at $1,610.22. Gold gained for the third straight session yesterday on speculation that U.S. policy makers will announce additional stimulus measures to boost growth.
SILVER
Silver for July delivery was little changed at $28.925 an ounce.
COPPER
Copper rose slightly on Wednesday, but mostly stayed in narrow ranges amid thin volumes, reflecting investor caution as a resolution to Europe's debt crisis remained elusive, clouding the outlook for raw material demand.
ASIAN STOCKS MARKET
Asian stocks rose as Japan’s machinery orders increased more than economists expected and South Korea’s unemployment fell, adding to evidence the region’s economies are withstanding Europe’s debt crisis.
U.S.STOCK MARKET
U.S. stock futures dropped, indicating the Standard & Poor’s 500 Index will pare yesterday’s rally, as investors await a report that may show retail sales declined last month. S&P 500 futures expiring in September slipped 0.2 percent to 1,317 at 6:51 a.m. in New York. The equity benchmark jumped 1.2 percent yesterday, amid speculation the Federal Reserve will take steps to stimulate the economy, with so-called quantitative easing. Dow Jones Industrial Average futures decreased 16 points, or 0.1 percent, to 12,498 today.
EUROPEAN MARKET
European stocks declined as borrowing costs increased at debt auctions by Germany and Italy and as investors awaited a report on American retail sales. U.S. index futures fell, while Asian shares gained.
U.S.TREASURIES
Treasury 30-year securities dropped for a second day before the U.S. sells $21 billion of 10-year notes today and $13 billion of so-called long bonds tomorrow.
Thirty-year yields approached the highest level this month as Barclays Chief Executive OfficerRobert Diamond said the euro will survive even as Europe’s debt crisis slows economic growth, damping demand for the relative safety of U.S. government debt. The decline in Treasuries was tempered before a U.S. report that economists said will show retail sales dropped in May.
CURRENCY UPDATE
DOLLAR
The Dollar Index, which tracks the U.S. currency against those of six trading partners, fell 0.2 percent.
EURO
The euro strengthened against the dollar after the Financial Times Deutschland reported that European leaders may consider relaxing Greece’s austerity program after the June 17 election.
The 17-nation currency also rose versus the yen. A new Greek government, independent of the electoral outcome, will seek amendments to the terms of the bailout
COMMODITY UPDATE
CRUDEOIL
Oil swung between gains and losses in New York as the International Energy Agency said global markets are better supplied than earlier this year and investors speculated U.S. stockpiles probably fell last week.
GOLD
Gold for August delivery in New York declined 0.2 percent to $1,611.20 an ounce at 8:11 a.m. in Melbourne, while immediate-delivery bullion was little changed at $1,610.22. Gold gained for the third straight session yesterday on speculation that U.S. policy makers will announce additional stimulus measures to boost growth.
SILVER
Silver for July delivery was little changed at $28.925 an ounce.
COPPER
Copper rose slightly on Wednesday, but mostly stayed in narrow ranges amid thin volumes, reflecting investor caution as a resolution to Europe's debt crisis remained elusive, clouding the outlook for raw material demand.
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