Equities
Asian markets retreated on Thursday, as weak retail sales data from Japan weighed on the region. The Nikkei fell 1% to 8984, the Kospi sank 1.4% to 1906, and the ASX dropped .9% to 4316. The Hang Sang slumped 1.2% to 19553, a 1-month low, while the Shanghai Composite ended flat at 2053.
In Europe, markets sank amid concerns over Spain’s potential bailout. The DAX tumbled 1.6%, the CAC40 slid 1%, and the FTSE declined .4%. An Italian debt auction fared better than expected, as the government sold 7.3 billion euro of 10-year notes with a yield of 5.82%.
US stocks experienced a similar decline. The Dow dropped 107 points to 13001, the Nasdaq fell 1.1% to 3049, and the S&P 500 shed .8% to 1399.
Pandora jumped 14.3% after earnings beat forecasts.
Currencies
Currency trading remained slow as the market continued to consolidate. The Australian Dollar fell .6% to 1.0289, continuing its retreat, and the Pound dipped .3% to 1.5786. The Euro and Swiss Franc slipped .2% to 1.2509 and .9601 respectively, while the Yen inched up .1% to 78.64.
Economic Outlook
Weekly unemployment claims remained unchanged from last week at 374K, slightly above forecasts for 370K. Personal spending rose by .4%, inline with estimates, while personal income rose .3%, less than expected.
Asian markets retreated on Thursday, as weak retail sales data from Japan weighed on the region. The Nikkei fell 1% to 8984, the Kospi sank 1.4% to 1906, and the ASX dropped .9% to 4316. The Hang Sang slumped 1.2% to 19553, a 1-month low, while the Shanghai Composite ended flat at 2053.
In Europe, markets sank amid concerns over Spain’s potential bailout. The DAX tumbled 1.6%, the CAC40 slid 1%, and the FTSE declined .4%. An Italian debt auction fared better than expected, as the government sold 7.3 billion euro of 10-year notes with a yield of 5.82%.
US stocks experienced a similar decline. The Dow dropped 107 points to 13001, the Nasdaq fell 1.1% to 3049, and the S&P 500 shed .8% to 1399.
Pandora jumped 14.3% after earnings beat forecasts.
Currencies
Currency trading remained slow as the market continued to consolidate. The Australian Dollar fell .6% to 1.0289, continuing its retreat, and the Pound dipped .3% to 1.5786. The Euro and Swiss Franc slipped .2% to 1.2509 and .9601 respectively, while the Yen inched up .1% to 78.64.
Economic Outlook
Weekly unemployment claims remained unchanged from last week at 374K, slightly above forecasts for 370K. Personal spending rose by .4%, inline with estimates, while personal income rose .3%, less than expected.