Yen Rises Most in 2 Weeks as Oil Spurs Haven Bid; Real Rallies

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The yen strengthened the most in two weeks against the dollar as oil prices slumped to a five-year low, feeding demand for haven assets.

The yen appreciated 1 percent to 119.48 per dollar as of 5 p.m. New York time after adding as much as 1.5 percent, the biggest gain since Dec. 16. It advanced 1 percent to 145.25 versus the euro. The 18-nation common currency traded at $1.2156 after falling to $1.2124, the weakest since July 2012. The Aussie slid as much as 0.2 percent to NZ$1.0422.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 trading partners, dropped 0.4 percent to 1,128.69. It closed at 1,133.13 on Dec. 23, the highest since March 2009, and is up 11 percent this year.

West Texas Intermediate crude for February delivery slid as much as 91 cents to $52.70 a barrel in New York, the lowest since May 2009, before trading at $53.89.

Source : Bloomberg

Gold Climbs to Highest in a Week as Equities, Dollar Decline

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Gold futures rose to the highest in more than a week as world equities dropped and the dollar headed for the first decline in three sessions, boosting demand for bullion as an alternative asset.

The metal also climbed as Greece is expected to hold early elections on Jan. 25 after Prime Minister Antonis Samaras failed to secure the necessary votes to hold office. The nation™s ongoing debt crisis poses a risk to Europe™s economy. Gold priced in euros climbed 13 percent this year.

Gold futures for February delivery rose 1.6 percent to settle at $1,200.40 an ounce at 1:54 p.m. on the Comex in New York, after touching $1,210.90, the highest since Dec. 18. The price is down 0.2 percent for the year.

The MSCI All-Country World Index of shares slid 0.6 percent, heading for the biggest loss in two weeks. The Bloomberg Dollar Spot Index fell as much as 0.5 percent.

The yen appreciated versus most of its 31 major peers as the Bank of Japan said it will increase the length of maturity of the government bonds it buys.

Source : Bloomberg

U.S. Stocks Decline From Record Levels to Pare December Gains

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U.S. stocks fell, after the Standard & Poor™s 500 Index closed yesterday at a record for the 53rd time this year, as technology and utility companies sank the most in 18 months.

The S&P 500 dropped 0.5 percent to 2,080.34 at 4 p.m. in New York. The Dow Jones Industrial Average lost 54.65 points, or 0.3 percent, to 17,983.58. The Nasdaq 100 Index slid 0.7 percent as Apple Inc. lost 1.2 percent to pace declines among technology shares. Utility shares in the S&P 500 plunged 2.1 percent, the most since June 2013. Trading in S&P 500 companies was 35 percent below the 30-day average for this time of the day.

The S&P 500 has climbed 0.6 percent in December as the world™s largest economy expanded at the fastest pace in more than a decade and the Federal Reserve pledged to be patient on the timing of interest-rate increases.

The S&P 500 and Russell 2000 Index closed at all-time highs yesterday, while the Dow was near a record after climbing above 18,000 last week for the first time. The Nasdaq Composite Index finished at the highest level since March 2000.

December™s advance has extended the S&P 500™s rally for the year to 13 percent while the Dow has increased 8.5 percent. The Russell 2000 has advanced 4.3 for the year.

Source : Bloomberg

U.S. Shares Fall From Near Records; Treasuries Rise, Gold Surges

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U.S. stocks fell from near records, with the Standard & Poor™s 500 Index paring a seventh straight December gain, while Treasuries rose and gold surged. European and emerging equities slipped as energy shares declined.

The S&P 500 slid 0.3 percent at 11:56 p.m. in New York after closing at a record for the 53rd time in 2014. The Stoxx Europe 600 Index lost 0.9 percent to extend a December drop. The MSCI Emerging Markets Index fell 0.4 percent to push its loss this year to near 5 percent. Gold surged 1.8 percent to $1,203.70 an ounce. Russia™s ruble strengthened 5.1 percent, trimming its worst year since 1998. The yield on 10-year Treasury notes fell three basis points to 2.18 percent.

The S&P 500 has risen 0.8 percent in December, bolstered by the fastest expansion for the American economy in more than a decade. A report showed U.S. consumer confidence increased less than estimated this month. Oil traded near the lowest since 2009 in New York and London amid speculation U.S. crude inventories will stay at the highest for the time of year in at least three decades. Greek Prime Minister Antonis Samaras will request elections for Jan. 25, with the anti-austerity party Syriza leading polls.

Source : Bloomberg

Europe Stocks Fall From Three-Week High, Head for December Drop

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European stocks fell, heading for their first December decline since 2008, as energy shares slid.

The Stoxx Europe 600 Index dropped 0.9 percent to 341.02 at the close of trading. A gauge of oil and gas companies lost 1.8 percent, posting the biggest loss among 19 industry groups as oil prices traded near a five-year low. The broader European gauge has fallen 1.8 percent this month, with Greek equities slumping on concern about the implications of early parliamentary elections.

The Stoxx 600 has trimmed its annual advance to 3.9 percent. Greece™s ASE Index slid 15 percent this month as Prime Minister Antonis Samaras failed a third time to get enough backing for his presidential candidate, prompting him to recommend snap parliamentary elections. He met with President Karolos Papoulias in Athens today to request elections on Jan. 25. The opposition Syriza party leads polls as it pushes to abandon the austerity measures tied to Greece™s bailout.

Source : Bloomberg

Gold Futures Drop in New York as Dollar Touches Five-Year High

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Gold futures fell for the fourth time in five sessions as the dollar touched a five-year high, damping investor demand for the metal as a store of value.

The Bloomberg Dollar Spot Index rose to 1,133.26, the highest since 2009, amid signs that the U.S. economy is improving. Holdings in exchange-traded funds backed by bullion fell 0.6 percent last week, extending a drop to the lowest since 2009. Futures trading was 45 percent below the 100-day average for this time of day, data compiled by Bloomberg show.

Gold futures for February delivery slipped 1.1 percent to settle at $1,181.90 an ounce at 1:46 p.m. on the Comex in New York. The price has fallen 1.7 percent in 2014, after tumbling 28 percent last year.

Silver futures for March delivery retreated 2.3 percent to $15.779 an ounce on the Comex, the most in almost two weeks. The metal is down 19 percent for the year.

Platinum futures for April delivery fell 1.4 percent to $1,202.70 an ounce on the New York Mercantile Exchange. Palladium futures for March delivery dropped 0.8 percent to $812 an ounce.          

Source : Bloomberg

Russian Economy Shows Gesture First Recession

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The Russian economy contracted by 0.5% in November, the first decline in GDP since October 2009.

The Russian government forecast a decline of 0.8% of GDP next year, compared with 0.6% GDP growth in 2014 as a whole.

Ruble fell to a level of 57 to the US dollar on Monday, a decline of over 6% after it had increased last week.

The Russian economy is highly dependent on energy exports hit by the drop in oil prices and a number of sanctions western countries.

Sanctions imposed because of Russian support for separatists in eastern Ukraine, targeting the oil and gas industry in addition to a number of banks, gun makers and wealthy elite group near predictably President Vladimir Putin.

Russia blocked the majority of food imports from the West to reply to this policy. Ruble lost half its value against the dollar this year.

Ministry of economic development of Russia claimed the manufacturing, construction, agriculture and services contracted in November. While mining, energy and retail trade continued to show growth.

Source: BBC

Saham AS Lanjutkan Reli Pekan Lalu ditopang Penguatan Saham Energi

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Saham AS naik mengirim indeks Standard & Poor 500 bersiap menuju kenaikan tahunan ketiga berturut-turut seiring indeks ekuitas naik pekan lalu.

Indeks Standard & Poor 500 naik sebesar 0,2 persen ke level 2,092.95 pukul 11:54 siang di New York. Indeks Dow melonjak 7.26 poin, atau kurang dari 0,1 persen, ke level 18,060.97. Indeks Russell 2000 menguat sebesar 0,3 persen. Volume perdagangan saham pada S&P 500 sebesar 36 persen di bawah moving average 30-hari untuk hari ini. Volume untuk bursa AS pada 26 Desember merupakan yang terendah tahun ini untuk sehari penuh perdagangan.

Ekuitas mendekati level rekor tertingginya pada akhir tahun, didukung oleh ekspansi tercepat perekonomian Amerika dalam lebih dari satu dekade terakhir. Janji Federal Reserve pada 17 Desember lalu untuk bersabar dalam menaikkan suku bunga membantu indeks S&P 500 sepenuhnya menutup kerugian sebesar 5 persen pada semester pertama bulan ini. (izr)

Sumber: Bloomberg

Gold Declines With Silver as Dollar Strength Curbs Demand

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Gold fell on concern gains last week were exaggerated amid prospects for a stronger dollar and declining investor demand.

The metal rose 1.9 percent on Dec. 26, the biggest gain in more than two weeks, on speculation that China will take more measures to bolster the economy. Holdings in SPDR Gold Trust, the largest exchange-traded product backed by the metal, have dropped to a six-year low and the Bloomberg Dollar Spot Index is near the highest level in five years.

Gold for February delivery retreated 0.3 percent to $1,191.90 an ounce at 7:14 a.m. on the Comex in New York. The metal is headed for a second quarterly loss. Gold for immediate delivery fell 0.3 percent to $1,192.25 an ounce in London, according to Bloomberg generic pricing.

Silver for March delivery fell 0.5 percent to $16.07 an ounce in New York. Platinum for April delivery dropped 0.6 percent to $1,212.90 an ounce, while palladium for March delivery declined 0.3 percent to $815.90 an ounce.

Source: Bloomberg

Europe Stocks Little Changed as Greece’s ASE Declines After Vote

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European stocks were little changed, while Greece™s ASE Index fell as the nation faces early elections after Prime Minister Antonis Samaras failed a third time to get enough backing for his presidential candidate.

The Stoxx Europe 600 Index gained less than 0.1 percent to 344.06 at 4:30 p.m. in London, after falling as much as 0.8 percent. The Greek gauge slid 3.9 percent and as much as 11 percent, the most among 18 western-European markets. The retreat triggered a drop in benchmark equity indexes from Italy and Spain.

The Stoxx 600 is down 1 percent this month, on pace for its first December decline since 2008, while the ASE closed at its lowest level since July 2013.

Short bets on an exchange-traded fund tracking Greek shares climbed this month to the highest level since May 2012, just before the benchmark ASE fell to a low in the wake of the nation™s debt restructuring.

Source : Bloomberg

Japanese Stocks Follow U.S. Shares Higher as Insurers Advance

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Japanese shares rose, with the Topix index extending a three-week high, after U.S. stocks climbed to records amid optimism about the gathering pace of recovery in the world™s largest economy. Insurers advanced.

The Topix gained 0.4 percent to 1,433.50 as of 9:02 a.m. in Tokyo, with all but three of 33 industry groups increasing. The measure is poised for its highest close since Dec. 9. The Nikkei 225 Stock Average added 0.4 percent to 17,893.83 today. The yen lost 0.1 percent to 120.44 per dollar after falling 0.2 percent on Dec. 26. The Standard & Poor™s 500 Index, the Dow Jones Industrial Average and the Russell 2000 Index all posted all-time highs Dec. 26.

Futures on the S&P 500 were little changed. The underlying equity gauge rose 0.3 percent Dec. 26 as a rally in equities continued through one of the slowest trading days of the year.

Source : Bloomberg

Asian Stocks Advance Amid Optimism in U.S Economic Recovery

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Asian stocks rose, with the regional gauge heading for a 2 1/2-week high, amid optimism in the strength of the world™s largest economy.

The MSCI Asia Pacific Index gained 0.2 percent to 138.04 as of 9:01 a.m. in Tokyo, before markets opened in Hong Kong and China. Australia™s S&P/ASX 200 Index added 0.5 percent, on volume 62 percent below the 30-day intraday average, as it resumed trading after a two-day Christmas break. Shares of AirAsia Bhd. may move after one of its planes carrying 162 people went missing.

American equity gauges climbed to records last week and a gauge of volatility slumped as data showed U.S. gross domestic product increased at a 5 percent annual rate from July through September, the fastest pace since 2003. Futures on the Standard & Poor™s 500 Index were little changed today.

Japan™s Topix index advanced 0.4 percent. South Korea™s Kospi index fell 0.6 percent. New Zealand™s NZX 50 Index slipped from an all-time high, dropping 0.1 percent.

Data at the weekend showed Chinese industrial company profits fell the most in two years last month, adding to signs of a deepening slowdown in Asia™s largest economy. China is headed for its slowest annual growth since 1990 amid industrial overcapacity, a housing slump and factory-gate deflation.

Source : Bloomberg

Euro Approaches Two-Year Low on Greece Early Election Concern

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The euro traded 0.1 percent from a two-year low as Greece™s prime minister attempts to get his presidential candidate confirmed and avoid an early parliamentary election that risks severing the nation™s international lifeline.

The currencies of Australia and New Zealand fell after data showed industrial profits dropped in China, the South Pacific nations™ biggest trading partner. The yen weakened for a second day amid speculation Japan™s central bank will introduce more currency-depreciating stimulus to revive growth.

The euro fell 0.1 percent to $1.2176 as of 9:15 a.m. Tokyo time. It depreciated to $1.2165 on Dec. 23, the weakest level since August 2012. The yen slipped to 120.44 against the greenback, from 120.31 on Dec. 26.

Australia™s dollar declined 0.1 percent to 81.13 U.S. cents. New Zealand™s currency fell 0.2 percent to 77.47 cents.

Source: Bloomberg

Yen Falls Toward Seven-Year Low as Industrial Production Shrinks

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The yen declined toward a seven-year low against the dollar after government reports showed industrial production shrank in November and inflation slowed.

Japan™s currency fell versus all of its 16 major counterparts as the data added to speculation the central bank will introduce more stimulus measures to try to raise the economy out of recession. The dollar headed for a second weekly gain versus the euro after data this week showed the U.S. economy accelerated last quarter, giving the Federal Reserve more reason to raise interest rates next year. European financial markets are shut today for a holiday.

The yen fell 0.2 percent to 120.37 per dollar at 9:18 a.m. in Tokyo, extending this week™s decline to 0.7 percent. The currency depreciated to 121.85 percent on Dec. 8, the least since July 2007. The yen dropped 0.1 percent to 146.91 per euro. The dollar gained 0.2 percent to $1.2207 per euro, having advanced 0.2 percent this week.

Source : Bloomberg

Japan Shares Swing as Investors Weigh Data on Inflation, Output

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Japanese shares fluctuated, with the Topix index headed for a weekly advance, as investors assessed data on inflation, industrial output and retail sales. Shippers rose while tiremakers fell.

The Topix added less than 0.1 percent to 1,421.54 as of 9:02 a.m. in Tokyo, after retreating as much as 0.1 percent. The measure is poised for a 0.9 percent gain this week. The Nikkei 225 Stock Average slipped 0.1 percent to 17,790.85 today. The yen dropped 0.2 percent to 120.39 per dollar after gaining 0.3 percent yesterday.

Japan™s inflation rate slowed for a fourth straight month, adding to central bank chief Haruhiko Kuroda™s challenges in reflating the world™s third-biggest economy. Consumer prices excluding fresh food rose 2.7 percent in November from a year earlier, the statistics bureau said today, down from 2.9 percent the previous month and matching the median projection of economists surveyed by Bloomberg.

Industrial production fell 0.6 percent in November from the previous month, data showed today. Analysts surveyed by Bloomberg had expected a 0.8 percent advance. Retail sales unexpectedly dropped 0.3 percent on the month.

Source : Bloomberg

Japan’s Inflation Slows for Fourth Month in Challenge to Kuroda

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Japan™s inflation rate slowed for a fourth straight month, adding to central bank chief Haruhiko Kuroda™s challenges in reflating the world™s third-biggest economy.

Consumer prices excluding fresh food increased 2.7 percent in November from a year earlier, the statistics bureau said today, matching a median projection in a Bloomberg News survey of economists. Stripped of the effect of April™s sales-tax increase, core inflation -- the Bank of Japan™s key measure -- was 0.7 percent.

Tumbling oil prices could push Japan™s inflation as low as 0.5 percent by the middle of next year, according to economists at NLI Research Institute and Dai-ichi Life Research Institute. Over the longer term, Kuroda said yesterday, cheaper oil spells good news for the economy that will increase consumer prices as the central bank aims for a 2 percent target.

Energy prices dropped 1.2 percent from a month earlier, according to today™s data. The price of Dubai crude oil -- a benchmark for Middle East supply to Asia -- has lost about a half of its value in the past year.

Source : Bloomberg

Dollar Tempers Best Annual Gain Since 2000 During Holiday Trade

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The dollar weakened for a second day against the yen, following a five-day advance, amid speculation its recent climb was too rapid.

The U.S. currency is headed for gains against all of its 16 major counterparts this year for the first time since 2000 as the Federal Reserve moves to raise interest rates next year for the first time since 2006. Australia™s dollar traded within a cent of its post-float low to its New Zealand peer.

The dollar declined 0.2 percent to 120.32 yen at 9:48 a.m. in Tokyo from yesterday, when it fell 0.2 percent. It reached 120.83 yen on Dec. 23, the highest since Dec. 9, and gained 3.7 percent during the five-day advance.

The U.S. currency was little changed at $1.2192 per euro after weakening 0.2 percent yesterday. The yen gained 0.1 percent to 146.82 per euro.

The Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers, has risen 11 percent this year, set for the biggest annual gain in data starting in December 2004.

The gauge was little changed at 1,1130.64 after falling 0.3 percent yesterday, a day after its 14-day relative-strength index reached 71, above the 70 level some traders see as a signal an asset may have risen too far, too fast.

Australia™s dollar traded at NZ$1.0488 after reaching NZ$1.0477 on Dec. 23. That was the lowest level since December 2005, when it recorded the post-float low of NZ$1.0432.

Source : Bloomberg

Gold Falls for Third Straight Day on U.S. Interest-Rate Outlook

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Gold futures declined for the third straight day as gains in the U.S. economy bolstered the case for higher interest rates.

Holdings in the SPDR Gold Trust, the world™s biggest exchange-traded fund backed by the metal, tumbled 1.6 percent yesterday to 712.9 metric tons, the biggest drop since June 2013. That marked the lowest since September 2008. Futures fell 8.4 percent in the third quarter as the U.S. economy gathered momentum.

Gold slumped last month to a four-year low as the dollar™s rally against a basket of 10 currencies to a five-year high and a surge in equities cut demand for the metal as a store of value. Bullion headed for a consecutive annual loss for the first time since 1998. Jobless claims in the U.S. dropped to the fewest since early November, government data showed today.

Gold futures for February delivery fell 0.4 percent to close at $1,173.50 an ounce at 12:36 p.m. on the Comex in New York, the lowest settlement since Nov. 13. Aggregate trading was 67 percent below the 100-day average for this time, according to data compiled by Bloomberg. In the previous two days, the price declined 1.5 percent.

Silver futures for March delivery dropped 0.4 percent to $15.71 an ounce, the lowest settlement this month. In 2014, silver has tumbled 19 percent this year, and gold fell 2.4 percent.

Source : Bloomberg

China Stock Futures Rise on Bets Recent Losses are Excessive

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China™s stock-index futures rose amid speculation the benchmark gauge™s biggest two-day loss in 18 months was excessive.

Futures on the CSI 300 Index expiring in January, the most active contract, gained 0.9 percent to 3,277.40 as of 9:16 a.m. China Communications Construction Co. and other infrastructure companies may move after the government said it will boost financial support for domestic companies to develop business overseas. Energy producers may drop on lower crude oil prices.

The Shanghai Composite Index dropped 2 percent to close at 2,972.53 yesterday. It has lost 5 percent over the past two days on speculation the government will take actions to cool rapid gains in equity prices. Hong Kong™s stock market is closed today and tomorrow for the Christmas holidays. The Hang Seng China Enterprises Index fell 1 percent to 11,558.02.

The CSI 300 Index declined 2.8 percent. The Hang Seng Index gained 0.1 percent. The Bloomberg China-US Equity Index, the measure of the most-traded U.S.-listed Chinese companies, retreated 0.6 percent in New York.

Source : Bloomberg

Tokyo Stocks Open 0.28% Lower

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Tokyo stocks opened 0.28 percent lower on Thursday as the yen's fall against the dollar took a breather.

The Nikkei 225 index at the Tokyo Stock Exchange was down 49.39 points at 17,804.84 at the start.

Trading is expected to be thin due to the Christmas holiday.

In New York the Dow Jones Industrial Average edged to a fresh record in a holiday-shortened session Wednesday, one day after topping 18,000 points for the first time ever, closing up 0.03 percent at 18,030.21.

The dollar was at 120.43 yen early Thursday, compared with 120.44 yen in New York Wednesday afternoon.

The euro bought $1.2190 and 146.74 yen against $1.2202 and 146.97 yen in US trade.

Bucking the overall downtrend in Tokyo, Sumitomo Mitsui Financial Group gained 1.0 percent to 4,402.5 yen in the first few minutes of trade.

The rise came after news reports that the group's core banking unit would announce as early as Thursday a deal with Citigroup to purchase the New York-based company's retail business in Japan.

Source : AFP

U.S. Stocks Little Changed as Indexes Erase Gain in Last Minutes

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U.S. stocks were little changed as indexes erased gains in the final minutes of trading, after a five-day rally in equities that sent the Dow Jones Industrial Average above 18,000 for the first time.

The Standard & Poor™s 500 Index fell less than 1 point to 0.2 percent to 2,081.92 at 1 p.m. in New York. Trading in S&P 500 companies was 38 percent below the 30-day average for this time of day. U.S. equity markets closed at 1 p.m. for Christmas Eve, and will be shut tomorrow for the holiday.

Source : Bloomberg

Gold Falls for Second Day as U.S. GDP Growth Crimps Haven Demand

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Gold futures fell for the second straight day as the U.S. economy expanded more than estimated, crimping demand for the precious metal as an alternative investment.

The price dropped 2.2 percent last week on concern that the Federal Reserve will boost interest rates next year. Traders predict a 69 percent chance that the central bank will raise borrowing costs by September, futures data show. The U.S. economy expanded at a 5 percent annual rate in the third quarter, the biggest advance in 11 years.

The GDP report sent the Dow Jones Industrial Average to a record high. Gold is heading for a consecutive annual loss for the first time since 1998 after a plunge in oil prices reduced the metal™s appeal as an inflation hedge. The dollar™s rally against a basket of 10 currencies to a five-year high cut demand for bullion as a store of value.

Gold futures for February delivery fell 0.2 percent to settle at $1,178 an ounce at 1:43 p.m. on the Comex in New York. Yesterday, the price dropped 1.4 percent, the biggest decline for a most-active contract since Dec. 5. Today, aggregate trading was 39 percent below the 100-day average for this time, according to data compiled by Bloomberg.

Source: Bloomberg

Gold Falls for Second Day as U.S. GDP Growth Crimps Haven Demand

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Gold futures fell for the second straight day as the U.S. economy expanded more than estimated, crimping demand for the precious metal as an alternative investment.

The price dropped 2.2 percent last week on concern that the Federal Reserve will boost interest rates next year. Traders predict a 69 percent chance that the central bank will raise borrowing costs by September, futures data show. The U.S. economy expanded at a 5 percent annual rate in the third quarter, the biggest advance in 11 years. The government had estimated growth in gross domestic product at 3.9 percent.

The GDP report sent the Dow Jones Industrial Average to a record high. Gold is heading for a consecutive annual loss for the first time since 1998 after a plunge in oil prices reduced the metal™s appeal as an inflation hedge. The dollar™s rally against a basket of 10 currencies to a five-year high cut demand for bullion as a store of value.

Gold futures for February delivery fell 0.1 percent to $1,178.60 an ounce at 11:05 a.m. on the Comex in New York. Yesterday, the price dropped 1.4 percent, the biggest decline for a most-active contract since Dec. 5. Today, aggregate trading was 32 percent below the 100-day average for this time, according to data compiled by Bloomberg.

Source : Bloomberg

Dow Average Tops 18,000 for First Time on U.S. Economic Growth

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The Dow Jones Industrial Average rose above 18,000 for the first time as faster-than-forecast growth in gross domestic product boosted confidence in the economy and overshadowed declines in health-care companies.

The Dow average added 66.66 points, or 0.4 percent, to a record 18,026.10 at 4 p.m. in New York. The Standard & Poor™s 500 Index rose 0.2 percent to 2,082.21, also reaching an all-time high. Both gauges have advanced five straight days. The Nasdaq Biotechnology Index slipped 4.6 percent for the biggest decline since April.

It™s been 172 days since the Dow closed above 17,000 on July 3, data compiled by Bloomberg show. That™s the fifth-fastest trip between thousands, with the record being 35 days to 11,000 in May 1999. It took the index almost 5,200 days to go from 1,000 to 2,000 between 1972 and 1987, according to Howard Silverblatt, an index analyst at the New York-based S&P Dow Jones Indices.

The Dow closed at an eight-month low on Oct. 16 before rallying more than 1,882 points, or 12 percent, to to top 18,000.

Source: Bloomberg

Most U.S. Stocks Rise With Dow Average Above 18,000; Bonds Fall

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U.S. stocks rose, with the Dow Jones Industrial Average trading above 18,000 for the first time, as a surge in economic growth overshadowed a drop in health-care shares. Treasuries fell, while the dollar climbed with oil.

The Standard & Poor™s 500 advanced 0.2 percent to a record at 12:11 p.m in New York, while the Dow average added 76.17 points to 18,035.61. The Nasdaq 100 Index retreated 0.3 percent as biotechnology shares in the gauge plunged a second day. The Stoxx Europe 600 Index increased 0.6 percent for its sixth gain in the longest winning streak since April. The yield on 10-year Treasury notes rose five basis points to 2.20 percent. The Bloomberg Dollar Spot Index touched a five-year high as oil appreciated.

The world™s largest economy surged by 5 percent in the third quarter, expanding at the fastest pace since the same period of 2003, as U.S. consumers and businesses spent more than previously estimated. The S&P 500 soared 5.4 percent over the previous four days after the Federal Reserve™s pledge to be patient on the timing of interest-rate increases helped stocks recover from a plunge earlier this month.

Source : Bloomberg

European Stocks Rise to Post Biggest Six-Day Jump in Three Years

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European stocks climbed for a sixth day amid better-than-expected U.S. economic-growth data.

The Stoxx Europe 600 Index rose 0.6 percent to 344.06 at the close of trading. It briefly pared gains after a report showed that sales of new U.S. homes unexpectedly declined in November. The European stocks gauge posted its biggest six-day jump in three years, rising 6.4 percent.

Commerce Department data showed the world™s biggest economy grew in the third quarter more than forecast, expanding at the fastest pace in more than a decade. Gross domestic product increased at a 5 percent annual rate, up from a previously estimated 3.9 percent, according to revised figures released today in Washington. The Dow Jones Industrial Average rose above 18,000 for the first time after the GDP report.

Benchmark stock indexes of Portugal, France and Italy posted some of the biggest gains, rallying more than 1 percent. The volume of Stoxx 600 shares changing hands was 38 percent lower than the 30-day average, data compiled by Bloomberg show.

Source: Bloomberg

Oil Rises as Investors Weigh U.S. Supplies Against OPEC Strategy

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Oil rose for the second time in three days as investors weighed a projected decline in U.S. crude stockpiles against signs that Iraq is joining other OPEC members in defending market share.

West Texas Intermediate futures advanced as much as 0.8 percent in New York. Inventories in the U.S., the worlds largest consumer, probably dropped for a second week through Dec. 19, a Bloomberg News survey showed before government data tomorrow. Iraq plans to boost output next year as members of the Organization of Petroleum Exporting Countries refuse to cede market position, Iraqi Oil Minister Adel Abdul Mahdi said.

Oil is heading for the largest annual drop since 2008 as the U.S. pumps crude at record levels amid signs of weakening demand. Saudi Arabia and the United Arab Emirates reiterated pledges to keep producing at the same rate, blaming non-OPEC suppliers for the glut thats led to the collapse in prices.

WTI for February delivery climbed as much as 43 cents to $55.69 a barrel in electronic trading on the New York Mercantile Exchange and was at $55.36 at 10:55 a.m. in Sydney. The contract slid $1.87 to $55.26 yesterday. The volume of all futures traded was about 79 percent below the 100-day average. Prices are down 44 percent this year.

Brent for February settlement dropped $1.27, or 2.1 percent, to $60.11 a barrel on the London-based ICE Futures Europe exchange yesterday. The European benchmark crude ended the session at a premium of $4.85 to WTI.

OPEC doesnt intend to cut supply œwhatever the price is, Saudi Arabias Oil Minister Ali Al-Naimi said in an interview with the Middle East Economic Survey.

Source : Bloomberg

Yen Falls to Two-Week Low on Reduced Haven Demand; Aussie Drops

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The yen fell to a two-week low against the dollar as gains in global stocks cut demand for haven assets.

The Bloomberg Dollar Spot Index reached a five-year high before data forecast to show the U.S. economy grew more than initially estimated in the third quarter. The euro was 0.1 percent from the lowest in more than two years amid speculation the European Central Bank will add stimulus next year. The Australian dollar slid as commodity prices declined.

The yen fell 0.1 percent to 120.17 per dollar as of 8:52 a.m. in Tokyo from yesterday, after depreciating to 120.18, the weakest level since Dec. 9. Japans currency bought 146.87 per euro from 146.82. The 18-member euro was little changed at $1.2222 from yesterday, when it reached $1.2217, the lowest since August 2012.

Australias dollar declined 0.2 percent to 81.21 U.S. cents. The Aussie will slide to the low 70s in 2015, according to CBAs Capurso.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 major counterparts, added 0.1 percent to 1,128.46, set for the highest closing level since March 2009.

Source : Bloomberg

Asian Stocks Fall First Day in Four as Commodity Shares Retreat

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Asian stocks fell, with a gauge that excludes Japan heading for its first decline in four days, as commodity shares retreated after oil and metal futures declined.

The MSCI Asia Pacific Excluding Japan Index lost 0.2 percent to 465.86 percent as of 9:08 a.m. in Seoul. Japanese markets are closed for a holiday. The Standard & Poors 500 Index and Dow Jones Industrial Average closed yesterday at all-time highs as U.S. shares rallied for a fourth day after Federal Reserve Chair Janet Yellen said last week the central bank will likely hold key rates near zero at least through the first quarter. S&P 500 futures were little changed today.

Australias S&P/ASX 200 Index lost 0.3 percent. South Koreas Kospi Index was little changed and and New Zealands NZX 50 Index gained 0.1 percent. Markets in China and Hong Kong are yet to open.

Brent crude oil slipped 2.1 percent to $60.11 a barrel in London yesterday after Saudi Arabian Oil Minister Ali Al-Naimi said OPECs biggest producer will seek to maintain market share and that global demand growth this year was slower than expected. A gauge of metal futures in London dropped for a fifth day in six days.

Source : Bloomberg

S&P 500 Climbs to Record After 3-Day Rally as Tech Shares Jump

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The Standard & Poors 500 Index rose to a record as a surge in technology shares helped the benchmark index fully recover from a seven-day selloff in early December.

Facebook Inc. and Intel Corp. rose more than 2 percent to pace gains among technology shares.

The S&P 500 added 0.4 percent to 2,078.68 at 4 p.m. in New York, above its previous record close of 2,075.37 reached Dec. 5. The S&P 500 has advanced in each of the past six Decembers.

U.S. equities jumped 5 percent in the past three sessions as Fed Chair Janet Yellen said the central bank will likely hold key rates near zero at least through the first quarter, even as the U.S. economy strengthens.

A slide in oil prices and a worsening of the financial crisis in Russia rippled through financial markets earlier this month, wiping more than $1 trillion from U.S. equity values in less than two weeks. The S&P 500 lost 5 percent in seven trading days through Dec. 16.

U.S. stocks have tripled during the 5 1/2-year bull market, driven by the Feds three rounds of bond buying and borrowing costs near zero to stimulate the economy.

Data today showed purchases of previously owned U.S. homes dropped more than forecast in November as residential real estate struggles to sustain its recovery even as borrowing costs remain low.

Source: Bloomberg

U.S. Stocks Little Changed After Rally; Energy Falls

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U.S. stocks fluctuated, after the biggest three-day jump since 2011, as gains in technology shares offset a slump in biotechnology and the first drop in five days for energy companies.

The Nasdaq Biotechnology Index slumped 2.6 percent as Gilead Sciences Inc. sank 14 percent after a drug-benefit manager blocked the companys $1,000 hepatitis treatment. Chevron Corp. lost 1.3 percent as energy companies were the worst performers in the Standard & Poors 500 (SPX) Inc. Facebook Inc. and Intel Corp. rose more than 2.3 percent to pace gains among technology shares.

The Standard & Poors 500 Index added less than 0.1 percent to 2,071.01 at 12:14 p.m. in New York, near a record close. The Dow Jones Industrial Average jumped 89.72 points, or 0.5 percent, to 17,894.52. Trading in S&P 500 companies was 9 percent below the 30-day average for this time of the day.

U.S. equities jumped 5 percent in the past three sessions as Fed Chair Janet Yellen said the central bank will likely hold key rates near zero at least through the first quarter, even as the U.S. economy strengthens.

Source : Bloomberg

Dollar Holds Gains on Monetary Policy Divergence; Kiwi Declines

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The dollar held gains from last week against most major peers amid speculation the Federal Reserve will raise interest rates as early as April as other major central banks continue monetary easing.

The U.S. currency advanced to match a two-year high versus the euro after European Central Bank Vice President Vitor Constancio told German magazine Wirtschaftswoche that policy makers arent ruling out quantitative easing. The greenback held a three-day gain against the yen after the Bank of Japan maintained unprecedented stimulus last week. New Zealands dollar fell after a gauge of consumer confidence fell.

The dollar traded at $1.2224 per euro at 8:49 a.m. in Tokyo from $1.2229 on Dec. 19, following a 1.9 percent jump in the previous five days. It earlier touched $1.2220, matching the highest since August 2012. The greenback was little changed at 119.55 yen, after gaining 0.6 percent last week. The single currency bought 146.10 yen from 146.15 in New York.

The New Zealand dollar declined 0.2 percent to 77.42 U.S. cents after a Westpac Banking Corp. index of consumer sentiment fell to 114.8 in the fourth quarter, the lowest level since the three months ended March 2013.

Source : Bloomberg

Asian Stocks Advance Third Day as Materials Shares Lead Gains

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Asian stocks rose for a third day, led by materials companies, as crude futures rebounded. Australias benchmark index headed for its biggest two-day gain in three years.

The MSCI Asia Pacific Index rose 0.3 percent to 137.34 as of 9:05 a.m. in Tokyo. The gauge jumped by the most in two months on Dec. 19 amid a global equities rally after the Federal Reserve last week pledged to be patient on the timeline for interest-rate increases. Australias S&P/ASX 200 Index was set for a 3.5 percent two-day gain, the most since December 2011.

Japans Topix index and South Koreas Kospi index added 0.3 percent. New Zealands NZX 50 Index climbed 0.1 percent. Markets in China and Hong Kong have yet to open. Brent crude rose 0.1 percent to $61.45 a barrel after rallying the most since October 2012 on Dec. 19.

Source : Bloomberg

Japanese Stocks Gain a Third Day as Oil Price Rises, Yen Weakens

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Japanese stocks rose for a third day, led by energy companies after crude oil prices gained and the yen held losses against the dollar.

The Topix added 0.5 percent to 1,417.10 as of 9:01 a.m. in Tokyo as all but two of its 33 industry groups advanced. The measure has erased it losses for December and is on course to rise 8.7 percent this year. The Nikkei 225 Stock Average gained 0.2 percent to 17,651.33 today. The Bank of Japan releases its December economic report today. The yen traded at 119.50 per dollar after weakening for three sessions last week as the Federal Reserve said it will be patient in raising U.S. interest rates.

The Standard & Poors 500 Index jumped 3.4 percent last week after the Fed comments sparked a three-day rally in U.S. stocks. Futures on the gauge were little changed today.

The BOJ last week maintained the expansion of its monetary base at an annual pace of 80 trillion yen ($676 billion).

Brent crude oil increased 0.7 percent to $61.79 a barrel after rallying on Dec. 19 by the most since October 2012.

The U.S. updates on third-quarter gross domestic product tomorrow, with economists surveyed by Bloomberg predicting annualized growth will be revised up to 4.3 percent for the three-month period, from a previous estimate of 3.9 percent. Data on housing, goods orders and personal consumption in the worlds largest economy are also due this week.

Fed Chair Janet Yellen said last week that policy makers are likely to hold key rates near zero at least through the first quarter, even as the U.S. economy strengthens. The central bank, in a statement after its last meeting of 2014, replaced a reference to borrowing costs staying low for a œconsiderable time with a pledge to be patient on the timing.

Source : Bloomberg

S&P 500 Climbs Near Record Close After Three-Day Rally on Fed

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U.S. stocks rose, sending the Standard & Poors 500 Index near its all-time high and erasing losses for December, after the Federal Reserve spurred the biggest three-day jump since 2011.

The S&P 500 added 0.5 percent to 2,070.64 at 4 p.m. in New York, erasing all its losses for the month and approaching its previous closing high reached Dec. 5. The benchmark gauge is up 3.4 percent for the week, the most since October.

Trading in S&P 500 companies was 52 percent above the 30-day average for this time of day. Some futures and options on stocks and indexes expire today in a process known as quadruple witching. That often increases volatility and trading volume.

Following the Feds pledge to be patient on the timing of interest-rate increases, the Bank of Japan held monetary policy steady today, almost two months after boosting stimulus as Asias second-largest economy slumped into a recession. In Europe, almost all economists project the central bank will announce the purchase of large-scale government bonds next year.

Source : Bloomberg

Oil Rebounds From 5-Year Low as Market Most Volatile Since 2011

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Oil rebounded in New York after slumping to a fresh five-year low as prices continued to swing amid the highest trading volatility since 2011.

West Texas Intermediate climbed as much as 2.6 percent, trimming a fourth weekly drop. A measure of expected futures movements and a key gauge of options value was at the highest level since October 2011, data compiled by Bloomberg show. Saudi Arabia and OPEC would find it œdifficult, if not impossible to give up market share by cutting supply, according to Ali Al-Naimi, the oil minister of the Middle East producer.

Oil has lost more than 20 percent since Saudi Arabia led the decision by the Organization of Petroleum Exporting Countries to maintain its collective target at a meeting in Vienna last month. U.S. producers continue to pump crude at record levels, contributing to a global supply glut and boosting speculation they will compete with the 12-member group for market share.

WTI for January delivery rose as much as $1.39 to $55.50 a barrel on the New York Mercantile Exchange and was at $54.88 at 11:17 a.m. Sydney time. The contract, which expires today, slid $2.36 to $54.11 yesterday, the lowest close since May 2009. The more active February future was up 91 cents at $55.27. The volume of all futures traded was about 22 percent below the 100-day average. Prices have decreased 44 percent this year.

Brent for February settlement dropped $1.91, or 3.1 percent, to $59.27 a barrel on the London-based ICE Futures Europe exchange yesterday, also the lowest close since May 2009. The European benchmark crude ended the session at a premium of $4.91 to WTI for the same month.

Source : Bloomberg

Swiss Franc Slips Most Since 2013 on Negative Rates; Pound Rises

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Switzerlands franc weakened the most in 18 months versus the euro after the nations central bank introduced negative interest rates to defend the currencys cap.

The shared currency fell for a second day against the dollar as the Swiss National Bank decision boosted speculation the European Central Bank will expand stimulus measures next year. A gauge of the dollar reached a five-year high amid signals the Federal Reserves pledge to be œpatient on interest rates means an increase next year. Colombias peso gained for a third day to lead emerging-market peers higher. The pound gained as volatility rose to a 15-month high.

Switzerlands move was a œtelltale sign that the SNB is cautious because of the ECB, said David Song, a New York-based currency analyst at FXCM Inc. œThe SNB is going to follow along with the ECB in terms of the easing cycle.

The franc depreciated 0.2 percent to 1.20388 per euro as of 3:56 p.m. New York time after dropping as much as 0.7 percent to 1.20974, the weakest level since Oct. 10. The intraday decline was the most since May 2013.

The dollar appreciated 0.2 percent to 118.83 yen after surging 1.9 percent yesterday, the biggest advance since Oct. 31. The U.S. currency appreciated 0.5 percent to $1.2284 per euro and touched $1.2266, the strongest since Dec. 8. The yen strengthened 0.3 percent to 145.98 per euro.

Source : Bloomberg

Asian Stocks Advance Most in Six Weeks Amid Global Equity Rally

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Asian stocks headed for their largest advance in six weeks amid a global equity rally that sent U.S. equities surging. Japans Topix index jumped on a weaker yen ahead of a central bank policy decision.

The MSCI Asia Pacific Index climbed 1.1 percent to 136.17 as of 9:08 a.m. in Tokyo, trimming its weekly decline to 0.7 percent, while the Topix added 2 percent. BOJ Governor Haruhiko Kuroda is expected to keep policy on hold today in Tokyo. The Standard & Poors 500 Index posted its largest two-day gain in three years as the Federal Reserves pledge to be patient on boosting rates overshadowed concern over a slide in oil and Russias currency.

South Koreas Kospi index climbed 1.1 percent. Australias S&P/ASX 200 Index gained 1.6 percent, while New Zealands NZX 50 Index rose 0.4 percent.

Source : Bloomberg

Japan Stocks Rise a Second Day as Fed Sparks Global Equity Rally

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Japanese stocks jumped for a second day after U.S. equities posted the biggest two-day rally in three years amid rising confidence about the global economic outlook after the Federal Reserve pledged patience on interest rates.

The Topix added 1.6 percent to 1,398.85 as of 9:01 a.m. in Tokyo, paring its loss this week to less than 0.1 percent. All of its 33 industry groups rose. The Nikkei 225 Stock Average surged 1.7 percent to 17,498.95. The Bank of Japan reports on monetary policy today two months after unexpectedly boosting stimulus amid a recession in Asias second-largest economy.

The BOJ completes a two-day meeting today with 33 economists surveyed by Bloomberg News forecasting it will maintain the expansion of its monetary base at an annual pace of 80 trillion yen ($676 billion).

Prime Minister Shinzo Abes government will budget about 3.5 trillion yen for measures meant to rekindle economic growth, bringing more fiscal firepower to bear on Japans slump than previously expected, the Nikkei reported today. Cabinet will approve the stimulus package as early as Dec. 27. It was originally expected to be worth between 2 trillion yen and 3 trillion yen.

The Standard & Poors 500 Index jumped 2.4 percent in New York yesterday, capping a two-day gain of 4.5 percent, the most since November 2011. Futures on the S&P 500 were little changed today.

Source : Bloomberg

S&P 500 Caps Best Two-Day Gain Since 2011 Amid Global Rally

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U.S. stocks rose, sending the Standard & Poors 500 Index to its best two-day gain in three years, as global equities rallied on the Federal Reserves pledge to be patient on boosting rates.

The S&P 500 added 2.4 percent to 2,061.14 at 4 p.m. in New York, its largest one-day gain since January 2013. The index has climbed 4.5 percent over two days, the most since November 2011.

The MSCI All-Country World Index soared 2 percent and emerging-market stocks surged 1.8 percent. The Stoxx Europe 600 Index advanced 3 percent, the most in three years. Treasuries sank the most in 17 months. Oil slumped 3.2 percent after wiping out a 4 percent rally.

The Chicago Board Options Exchange Volatility Index lost 13 percent to 16.95. The VIX has plunged 28 percent over two days. The index climbed to a two-month high on Dec. 16.

U.S. stocks are rebounding from a seven-day decline that erased $1 trillion from equity prices and coincided with a 15 percent drop in West Texas Intermediate crude between Dec. 5 and Dec. 16. S&P 500 energy producers tumbled 8 percent over the stretch while chemical and mining companies lost 7.4 percent.

Source : Bloomberg

Gold Trades Near Two-Week Low as Fed Comments Boost Rates View

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Gold held near a two-week low after U.S. policy makers dropped a pledge to keep borrowing costs low for a œconsiderable time, moving the Federal Reserve closer to raising rates for the first time since 2006 as the dollar rose.

Bullion for immediate delivery traded at $1,189.78 an ounce at 8:21 a.m. in Singapore from $1,189.71 yesterday, when prices fell to $1,183.89, the lowest since Dec. 1, after the Feds change, according to Bloomberg generic pricing.  The metal is set to snap two weeks of gains as slumping energy prices threatened to push inflation further below the U.S. central banks 2 percent target.

Chair Janet Yellen said the Fed is unlikely to move before the end of April after policy makers replaced the considerable-time pledge with a promise to be œpatient. That sent the Bloomberg Dollar Index toward a five-year high and the Standard & Poors 500 Index up by the most since October 2013. Data yesterday showed that U.S. consumer prices rose 1.3 percent, the smallest gain since February with oil at five-year lows.

While the Feds statement made no reference to the Russian currency crisis or other global risks that have roiled financial markets, Yellen said the potential spillover from Russia on the U.S would be small. The ruble fell to a record this week even as the Russian central bank raised interest rates, spurring speculation that the country may sell some of its gold reserves.

Source : Bloomberg

Dollar Gains as Fed’s Yellen Emphasizes 2015 Rate Increase

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The dollar advanced to almost a five-year high as Federal Reserve Chair Janet Yellen stressed that the central bank remains on pace to increase interest rates next year for the first time since 2006.

The greenback extended gains after Yellen said that the shift in guidance means œthe committee considers it unlikely to begin the normalization process for at least the next couple of meetings. Officials held the rate at zero to 0.25 percent, where its been since 2008, while replacing a pledge to keep borrowing costs near zero for a œconsiderable time.

The Bloomberg Dollar Spot Index, which tracks the currency against 10 major currencies, added 1 percent to 1,121.34 as of 3:08 p.m. in New York. It closed on Dec. 5 at 1,122.34, the highest since March 2009.

The dollar gained 1.6 percent to 118.29 yen after depreciating to 115.57 yesterday, the weakest since Nov. 17. The U.S. currency strengthened 1.1 percent to $1.2366 per euro. The yen fell 0.5 percent to 146.37 per euro after adding 1.6 percent in the previous two days.

Source : Bloomberg