Equities
Asian markets traded mostly lower on Wednesday. The Nikkei rose .4% to 9070, the Kospi slipped .2% to 1929, and the ASX 200 eased .1% to 4356. In Greater China, the Shanghai Composite slumped 1% to 2053, and the hang Seng declined .1% to 19789.
European markets settled mixed on light volume. The FTSE dropped .6%, the CAC40 fell .5%, while the DAX ticked up .1%. Resource stocks were under pressure, as the sector tumbled 1.7% due to growth fears.
In the US, stocks closed modestly higher, but volume remained light. The Dow inched up 4 points to 13107, while the S&P 500 and Nasdaq both ticked up .1%.
Yelp shares surged 22.5%, even as the lockup period for 53 million shares ended.
Currencies
The Dollar settle mostly higher against global currencies, while trading ranges remained narrow. The Euro and Swiss Franc declined .3% to 1.2529 and .9586 respectively, and the Australian Dollar eased .1% to 1.0354. The Yen slipped .2% to 78.67, while the Pound edged up .1% to 1.5830.
Economic Outlook
Preliminary GDP data was in line with forecasts, rising to 1.7% from 1.5%. Pending Home sales blew past forecasts, climbing to 2.4% vs. forecasts of 1.1%. Crude oil inventories unexpectedly rose by 3.8 million barrels.
Asian markets traded mostly lower on Wednesday. The Nikkei rose .4% to 9070, the Kospi slipped .2% to 1929, and the ASX 200 eased .1% to 4356. In Greater China, the Shanghai Composite slumped 1% to 2053, and the hang Seng declined .1% to 19789.
European markets settled mixed on light volume. The FTSE dropped .6%, the CAC40 fell .5%, while the DAX ticked up .1%. Resource stocks were under pressure, as the sector tumbled 1.7% due to growth fears.
In the US, stocks closed modestly higher, but volume remained light. The Dow inched up 4 points to 13107, while the S&P 500 and Nasdaq both ticked up .1%.
Yelp shares surged 22.5%, even as the lockup period for 53 million shares ended.
Currencies
The Dollar settle mostly higher against global currencies, while trading ranges remained narrow. The Euro and Swiss Franc declined .3% to 1.2529 and .9586 respectively, and the Australian Dollar eased .1% to 1.0354. The Yen slipped .2% to 78.67, while the Pound edged up .1% to 1.5830.
Economic Outlook
Preliminary GDP data was in line with forecasts, rising to 1.7% from 1.5%. Pending Home sales blew past forecasts, climbing to 2.4% vs. forecasts of 1.1%. Crude oil inventories unexpectedly rose by 3.8 million barrels.