Written by Gary
Opening Market Commentary For 02 December 2014
Gary is off , and the market open comes from our syndication partner Investing.com.
U.S. stocks inched up at the open on Tuesday as a pair of big M&A deals boosted market optimism a day after the S&P 500’s worst performance in a month.
The Dow Jones industrial average (DJI) rose 24.71 points, or 0.14 percent, to 17,801.51, the S&P 500 (SPX) gained 2.03 points, or 0.1 percent, to 2,055.47 and the Nasdaq Composite (IXIC) added 8.86 points, or 0.19 percent, to 4,736.20.
European stocks were higher on Tuesday, amid growing expectations for additional easing measures by the European Central Bank ahead of its monthly policy meeting scheduled on Thursday. During European morning trade, the EURO STOXX 50 rose 0.28%, France’s CAC 40 climbed 0.50%, while Germany’s DAX 30 edged up 0.08%.
European equities remained supported after data on Friday showed that the annual rate of euro area inflation slowed to a five year low of 0.3% last month, down from 0.4% in October. The weak data added to pressure on the ECB to step up measures to spur growth and stave off the threat of deflation ahead of its upcoming policy meeting on Thursday. Earlier Tuesday, official data showed that the number of unemployed people in Spain declined by 14,700 in November, compared to expectations for an increase of 57,300, after a 79,200 rise in October. Financial stocks were broadly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) gained 0.83% and 0.24%, while Germany’s Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) advanced 0.63% and 0.12%.
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Written by Gary