Equities
Asian markets traded mixed on Monday, following a choppy session. The Nikkei rose .2% to 9085, the ASX 200 eased .1% to 4345, and the Hang Seng declined .4% to 19899. Korea’s Kospi slipped .1%, although Samsung shares tumbled 7.5% after a US court ruled in favor of Apple in a patent lawsuit between the two companies. The Shanghai Composite skidded 1.7% to 2056, a 3.5 year low as expectations for easing lessened following remarks by China’s Premier.
In Europe, stocks rallied, as the DAX climbed 1.1% to 7074, and the CAC40 advanced .9% to 3463. Nokia shares jumped 5.5% in reaction to the Samsung court decision, amid expectation that the cellphone maker will benefit from a setback to Samsung. UK markets were closed for a holiday.
US stocks ended mixed after trading in a narrow range. The Dow declined 33 pints to 13125, the S&P 500 eased 1 point to 1410, and the Nasdaq ticked up .1% to 3073.
Apple shares jumped 1.9% to 675.68, a record close, in response to the favorable ruling in the $1.05 billion lawsuit.
Hertz announced it will buy Dollar Thrifty for $2.3 billion. Hertz shares surged 8.1% and Dollar Thrifty shares popped 7.5%.
Currencies
The currency markets were unusually quiet, thanks to the UK bank holiday. The Euro traded in a narrow 44 pip range for the entire day, ending down .1% to 1.2497. The Pound, Swiss Franc, and Yen all slipped .1% as well. The Australian Dollar declined .3% to 1.0370, while the Canadian Dollar rose .2% to .9904.
Economic Outlook
Tuesday’s economic reports will include the Case-Shiller home price index, consumer confidence, and the Richmond manufacturing index.
Asian markets traded mixed on Monday, following a choppy session. The Nikkei rose .2% to 9085, the ASX 200 eased .1% to 4345, and the Hang Seng declined .4% to 19899. Korea’s Kospi slipped .1%, although Samsung shares tumbled 7.5% after a US court ruled in favor of Apple in a patent lawsuit between the two companies. The Shanghai Composite skidded 1.7% to 2056, a 3.5 year low as expectations for easing lessened following remarks by China’s Premier.
In Europe, stocks rallied, as the DAX climbed 1.1% to 7074, and the CAC40 advanced .9% to 3463. Nokia shares jumped 5.5% in reaction to the Samsung court decision, amid expectation that the cellphone maker will benefit from a setback to Samsung. UK markets were closed for a holiday.
US stocks ended mixed after trading in a narrow range. The Dow declined 33 pints to 13125, the S&P 500 eased 1 point to 1410, and the Nasdaq ticked up .1% to 3073.
Apple shares jumped 1.9% to 675.68, a record close, in response to the favorable ruling in the $1.05 billion lawsuit.
Hertz announced it will buy Dollar Thrifty for $2.3 billion. Hertz shares surged 8.1% and Dollar Thrifty shares popped 7.5%.
Currencies
The currency markets were unusually quiet, thanks to the UK bank holiday. The Euro traded in a narrow 44 pip range for the entire day, ending down .1% to 1.2497. The Pound, Swiss Franc, and Yen all slipped .1% as well. The Australian Dollar declined .3% to 1.0370, while the Canadian Dollar rose .2% to .9904.
Economic Outlook
Tuesday’s economic reports will include the Case-Shiller home price index, consumer confidence, and the Richmond manufacturing index.