Global Economic Intersection
Advertisement
  • Home
    • 카지노사이트
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
    • 카지노사이트
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result

Investing.com Weekly Wrap-Up 13 September 2013

admin by admin
September 13, 2013
in Uncategorized
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

by Investing.com Staff, Investing.com

U.S. stocks gain ahead of Federal Reserve meet; Dow rises 0.49%

U.S. stocks finished Friday higher after investors took up long positions on the assumption the Federal Reserve will keep policy loose even if it tapers its investing.com-logobond-buying program this month.

At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.49%, the S&P 500 index rose 0.27%, while the Nasdaq Composite index rose 0.17%.

While many investors expect the Federal Reserve to announce plans to taper its USD85 billion in monthly asset purchases at its Sept. 17-18 meeting, most feel the U.S. central bank will trim that figure only slightly.

Stimulus measures such as asset purchases keep long-term interest rates low and boost stocks in the process, and the Fed is not expected to halt its program altogether but rather, reduce the amount of bonds it buys and keep conditions ripe for further stock-market gains.

Elsewhere, the Thomson Reuters/University of Michigan preliminary U.S. consumer sentiment index fell to 76.8 in September from 82.1 in August, worse than expectations for a decline to 82.0, which kept expectations alive for U.S. monetary policy to remain loose.

Official data, meanwhile, showed that U.S. retail sales rose 0.2% in August, missing expectations for a 0.4% rise after an upwardly revised 0.4% increase the previous month.

Core retail sales, excluding automobiles, rose 0.1% last month, short of expectations for a 0.3% gain after an upwardly revised 0.6% increase in July.

Separate data showed that the U.S. producer price index rose 0.3% in August, more than the expected 0.2% after a flat reading the previous month.

Core producer price inflation, excluding food and energy, was flat last month, compared to expectations for a 0.1% rise, after a 0.1% gain in July.

Leading Dow Jones Industrial Average performers included Intel, up 3.62%, Walt Disney, up 1.85%, and DuPont, up 1.43%.

The Dow Jones Industrial Average’s worst performers included Alcoa, down 0.98%, Johnson & Johnson, down 0.51%, and Home Depot, down 0.36%.

European indices, meanwhile, finished largely higher.

After the close of European trade, the EURO STOXX 50 rose 0.25%, France’s CAC 40 rose 0.19%, while Germany’s DAX 30 finished rose 0.18%. Meanwhile, in the U.K. the FTSE 100 finished down 0.08%.

Forex

The dollar softened against most major currencies on Friday as investors avoided the currency to wait for the Federal Reserve to announce its decision on stimulus measures next week, with many betting for policy to remain loose even if he Fed tapers its monthly asset-purchasing program.

Stimulus programs such as the Fed’s monthly USD85 billion in asset purchases keep the dollar weak by driving down long-term interest rates.

In U.S. trading on Friday, EUR/USD was up 0.04% at 1.3304.

Lackluster U.S. economic data and expectations that the Fed may taper security buying slightly next week softened the greenback on Friday.

Meanwhile, euro zone finance ministers were meeting in Vilnius, Lithuania, to discuss reforms to strengthen the region’s banking sector.

On Thursday, the European Parliament approved legislation to allow the European Central Bank to oversee banks in the 17-nation currency bloc. ECB President Mario Draghi said the vote was “a real step forward” in establishing a banking union.

Elsewhere, the greenback was down against the pound, with GBP/USDup 0.46% at 1.5878.

The dollar was down against the yen, with USD/JPY down 0.26% at 99.31, and down against the Swiss franc, with USD/CHF trading down 0.13% at 0.9294.

The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD up 0.20% at 1.0344, AUD/USD down 0.26% at 0.9246 and NZD/USD trading up 0.06% at 0.8143.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.05% at 81.65.

Gold

Gold prices dropped on Friday after investors bet the Federal Reserve next week will announce its intentions to begin tapering its monthly USD85 billion asset-purchasing program.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,313.90 during U.S. afternoon hours, down 1.26%.

Gold prices hit a session low of USD1,304.80 a troy ounce and high of USD1,330.70 a troy ounce.

Gold futures were likely to find support at USD1,272.10 a troy ounce, the low from Aug. 7, and resistance at USD1,416.30, Tuesday’s high.

The December contract settled down 2.43% at USD1,330.60 a troy ounce on Thursday.

Despite soft U.S. data released earlier, consensus continued to build on Friday that the Federal Reserve will announce plans to taper its monthly USD85 billion asset-purchasing program at its Sept. 17-18 policy meeting.

U.S. Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov held a fresh round of talks on Friday to discuss ways to disarm Syria of its chemical weapons, and while the U.S. says military action is still possible, metals markets concluded such campaigns are less likely.

Syria has agreed to hand over its chemical weapons cache to international control at Russia’s request.

Gold served as a safe-haven asset class during the U.S.-Syrian crisis, though prices have fallen as the prospects of U.S. military strikes have declined.

Elsewhere on the Comex, silver for December delivery was down 1.52% at USD21.813 a troy ounce, while copper for December delivery was down 0.24% and trading at USD3.202 a pound.

Oil

Crude oil futures fell on Friday as fears the U.S. may launch military strikes against Syria began to fade as the possibility of a diplomatic solution to the impasse rose, while soft U.S. consumer sentiment numbers pushed down prices as well.

On the New York Mercantile Exchange, light sweet crude futures for delivery in October traded at USD107.71 a barrel during U.S. trading, down 0.82%.

The October contract settled up 0.97% at USD108.60 a barrel on Thursday.

The commodity hit a session low of USD107.24 and a high of USD108.81.

Meanwhile on the ICE Futures Exchange, Brent oil futures for October delivery were down 0.52% at USD110.95 a barrel, up USD3.24 from its U.S. counterpart.

Natural Gas

Natural gas prices extended Thursday’s gains into Friday after official U.S. inventory data revealed the country’s stockpiles rose less than expected last week.

On the New York Mercantile Exchange, natural gas futures for delivery in October traded at USD3.665 per million British thermal units during U.S. trading, up 0.73%.

The October contract settled up 1.99% at USD3.638 per million British thermal units on Thursday.

The commodity hit a session low of USD3.604 and a high of USD3.676.

The U.S. Energy Information Administration said in its weekly report on Thursday that natural gas storage in the U.S. in the week ended Sept. 6 rose by 65 billion cubic feet, below market expectations for an increase of 66 billion cubic feet.

Inventories increased by 27 billion cubic feet in the same week a year earlier, while the five-year average change for the week is a build of 62 billion cubic feet.

Total U.S. natural gas storage stood at 3.253 trillion cubic feet as of last week. Stocks were 172 billion cubic feet less than last year at this time and 46 billion cubic feet above the five-year average of 3.207 trillion cubic feet for this time of year.

The report showed that in the East Region, stocks were 114 billion cubic feet below the five-year average, following net injections of 49 billion cubic feet.

Stocks in the Producing Region were 106 billion cubic feet above the five-year average of 993 billion cubic feet after a net injection of 14 billion cubic feet.

Investors also kept a wary eye Tropical Storm Ingrid, which formed in the southwestern Gulf of Mexico though it was poised to make landfall in Mexico.

Tropical weather systems often disrupt production by prompting gas rig operators to evacuate offshore facilities.

The Gulf of Mexico is home to 10% of U.S. natural gas production.

Capping gains, however, were weather forecasts calling for a return of milder temperatures across parts of the Midwest and Northeast of the U.S. next week, home to many natural gas consumers, though above normal temperatures forecast for the West Coast offset the trend.

Demand for natural gas tends to fall as temperatures moderate, as homes and businesses throttle back their air conditioners.

Reports of a decline in nuclear power outages dampened gains as well.

Natural gas accounts for about a quarter of U.S. electricity generation.

Previous Post

What We Read Today 13 September 2013

Next Post

Luxembourg Has Europe’s Highest Share of Non-Nationals

Related Posts

Addresses With Over 1 Bitcoin Surge To New Highs: Investor Optimism Soars
Econ Intersect News

Addresses With Over 1 Bitcoin Surge To New Highs: Investor Optimism Soars

by John Wanguba
September 29, 2023
Unlocking the Future: Google's Game-Changing Move to Advertise NFT Games Starting September 15th
Business

Unlocking the Future: Google’s Game-Changing Move to Advertise NFT Games Starting September 15th

by John Wanguba
September 8, 2023
Bitcoin Is Finally Trading Perfectly Like 'Digital Gold'
Economics

Bitcoin Is Finally Trading Perfectly Like ‘Digital Gold’

by John Wanguba
August 5, 2023
Can Worldcoin Overtake Bitcoin?
Economics

Can Worldcoin Overtake Bitcoin?

by John Wanguba
August 4, 2023
Bitcoin Is Steady Above $29,000 Awaiting US NFP Figures
Economics

Bitcoin Is Steady Above $29,000 Awaiting US NFP Figures

by John Wanguba
August 4, 2023
Next Post

Luxembourg Has Europe’s Highest Share of Non-Nationals

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Archives

  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • Addresses With Over 1 Bitcoin Surge To New Highs: Investor Optimism Soars
  • Unlocking the Future: Google’s Game-Changing Move to Advertise NFT Games Starting September 15th
  • Bitcoin Is Finally Trading Perfectly Like ‘Digital Gold’

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.