Equities
Asian markets traded mostly lower on Monday, as excitement over a rumored Spanish bailout faded. The Nikkei slipped .5% to 9069, the ASX 200 declined .5% to 4386, and the Hang Seng eased .2% to 20695. China’s Shanghai Composite gained .3% to 2033, and the Kospi inched up fractionally, as Samsung Electronics rallied 1.9%.
Disappointing German business sentiment data weighed on European shares, as the index posted its 5th straight drop. The CAC40 slumped 1% to 3497, the DAX shed .5% to 7413, and the FTSE dropped .2% to 5839.
The slide continued across the Atlantic, as the Dow declined 21 points to 13559, the Nasdaq fell .6% to 3161, and the S&P 500 lost .2% to 1457.
Facebook shares tumbled 9.1% after Barron’s warned the shares are worth only $15.
Currencies
The Dollar traded moderately higher on Monday, but the gains were limited. The Euro and Swiss Franc fell .3% to 1.2931 and .9358 respectively. The Pound and Canadian Dollar eased .1%, while the Yen jumped .4% to 77.85.
Economic Outlook
Tuesday’s reports will include consumer confidence, the Case-Shiller home price index, and the Richmond manufacturing index.
Asian markets traded mostly lower on Monday, as excitement over a rumored Spanish bailout faded. The Nikkei slipped .5% to 9069, the ASX 200 declined .5% to 4386, and the Hang Seng eased .2% to 20695. China’s Shanghai Composite gained .3% to 2033, and the Kospi inched up fractionally, as Samsung Electronics rallied 1.9%.
Disappointing German business sentiment data weighed on European shares, as the index posted its 5th straight drop. The CAC40 slumped 1% to 3497, the DAX shed .5% to 7413, and the FTSE dropped .2% to 5839.
The slide continued across the Atlantic, as the Dow declined 21 points to 13559, the Nasdaq fell .6% to 3161, and the S&P 500 lost .2% to 1457.
Facebook shares tumbled 9.1% after Barron’s warned the shares are worth only $15.
Currencies
The Dollar traded moderately higher on Monday, but the gains were limited. The Euro and Swiss Franc fell .3% to 1.2931 and .9358 respectively. The Pound and Canadian Dollar eased .1%, while the Yen jumped .4% to 77.85.
Economic Outlook
Tuesday’s reports will include consumer confidence, the Case-Shiller home price index, and the Richmond manufacturing index.
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