Equities
Asian markets rose on Tuesday, encouraged by upbeat economic data from France and Germany. The Nikkei advanced .5% to 8930, the Kospi rallied 1.3% to 1957, and the ASX 200 edged up .2% to 4292. In greater China, the Hang Seng climbed 1.1% to 20292, while the Shanghai Composite bounced .3% to 2143 following Monday’s steep drop.
European markets experienced a similar gain. The DAX rallied .9% to 6974, the CAC40 gained .7% to 3450, and the FTSE rose .6% to 5865. France and German GDP were both slightly above forecasts, although both numbers were remarkably weak.
US stocks ended little changed, shrugging off upbeat retails sales data. The Dow inched up 3 points to 13172, the S&P 500 ended down a fraction of a point, and the Nasdaq eased .2% to 3017. The VIX surged 8.4% to 14.85, bouncing off of Monday’s 5-year low of 13.70.
Groupon shares plunged 27% to 5.51 after sales fell short of forecasts. The company issued a weak outlook, prompting an avalanche of analyst downgrades.
Groupon Continues to Tumble
Home Depot shares rallied 3.6% after beating forecasts and lifting its guidance.
Currencies
The currency markets traded in tight ranges on Tuesday, ending little changed. The Euro, Swiss Franc, Canadian Dollar, and British Pound all settled less than .1% from their previous open. The Yen fell .5% to 78.73.
Economic Outlook
Retail sale rose .8% last month, beating forecasts of .4%. PPI rose .3%, in line with forecasts, although core PPI rose .4%, more than expected. Business inventories rose .1%, less than expected, and the TIPP economic optimism index unexpectedly fell to 45.6 from 47.0.
Wednesday’s reports will include CPI, the Empire State manufacturing index, industrial production, the NAHB housing market index, and weekly oil inventories.
Asian markets rose on Tuesday, encouraged by upbeat economic data from France and Germany. The Nikkei advanced .5% to 8930, the Kospi rallied 1.3% to 1957, and the ASX 200 edged up .2% to 4292. In greater China, the Hang Seng climbed 1.1% to 20292, while the Shanghai Composite bounced .3% to 2143 following Monday’s steep drop.
European markets experienced a similar gain. The DAX rallied .9% to 6974, the CAC40 gained .7% to 3450, and the FTSE rose .6% to 5865. France and German GDP were both slightly above forecasts, although both numbers were remarkably weak.
US stocks ended little changed, shrugging off upbeat retails sales data. The Dow inched up 3 points to 13172, the S&P 500 ended down a fraction of a point, and the Nasdaq eased .2% to 3017. The VIX surged 8.4% to 14.85, bouncing off of Monday’s 5-year low of 13.70.
Groupon shares plunged 27% to 5.51 after sales fell short of forecasts. The company issued a weak outlook, prompting an avalanche of analyst downgrades.
Groupon Continues to Tumble
Home Depot shares rallied 3.6% after beating forecasts and lifting its guidance.
Currencies
The currency markets traded in tight ranges on Tuesday, ending little changed. The Euro, Swiss Franc, Canadian Dollar, and British Pound all settled less than .1% from their previous open. The Yen fell .5% to 78.73.
Economic Outlook
Retail sale rose .8% last month, beating forecasts of .4%. PPI rose .3%, in line with forecasts, although core PPI rose .4%, more than expected. Business inventories rose .1%, less than expected, and the TIPP economic optimism index unexpectedly fell to 45.6 from 47.0.
Wednesday’s reports will include CPI, the Empire State manufacturing index, industrial production, the NAHB housing market index, and weekly oil inventories.