25 Jun 2014
US stocks rebound, European markets finish lower
FXStreet (Córdoba) - Equities in the US are rising modestly after rebounding while European markets finished lower. In London the FTSE 100 lost 0.78% while the Dax retreated 0.71%.
Stocks in Wall Street recovered after a negative opening following worst-than-expected GDP and durable good orders data. At the moment, the Dow Jones is rising 0.17% while the Nasdaq climbs 0.29%.
The US GDP numbers were revised sharply lower to a -2.9% for the first quarter on an annualised basis. Analysts were expecting a reading of -1.9%. “Nonetheless, reaction should be fairly muted given widespread expectations of a sharp bounceback in 2Q14 and the fact that the weather had such a damaging impact on 1Q activity”, said James Knightley, Analyst at ING Bank NV.
Gold plunged to $1,307 an ounce during the Asian session but it has been able to recover and trades back above $1,320. Crude oil is rising 0.25%, holding above $106 a barrel.
Stocks in Wall Street recovered after a negative opening following worst-than-expected GDP and durable good orders data. At the moment, the Dow Jones is rising 0.17% while the Nasdaq climbs 0.29%.
The US GDP numbers were revised sharply lower to a -2.9% for the first quarter on an annualised basis. Analysts were expecting a reading of -1.9%. “Nonetheless, reaction should be fairly muted given widespread expectations of a sharp bounceback in 2Q14 and the fact that the weather had such a damaging impact on 1Q activity”, said James Knightley, Analyst at ING Bank NV.
Gold plunged to $1,307 an ounce during the Asian session but it has been able to recover and trades back above $1,320. Crude oil is rising 0.25%, holding above $106 a barrel.