Equities
Asian markets traded mostly higher on Monday, buoyed by Friday’s rally in the West. The Hang Seng edged up .2% to 19121, the Kospi rose .3% to 1818, and the ASX 200 advanced .6% to 4105. Energy and material shares were the primary gainers. The Shanghai Composite was a notable exception, tumbling 1.7% to 2148, a 2-year low, after profit warnings from several manufacturers sent shares sharply lower.
European markets ended little changed. The Dax rose .1% to 6566, while the FTSE and CAC40 declined less than .1%.
In the US, stocks declined as retail sales data fell short of forecasts. The Dow erased 50 points to 12727, the Nasdaq slid .4% to 2897, and the S&P 500 eased .2% to 1354.
Human Genome (HGSI) gained 4.5% after approving GlaxoSmithKline’s (GSK) offer to purchase the company for $3 billion.
Yahoo (YHOO) announced that Marissa Mayer, a former Google (GOOG) executive, will be the company’s new CEO and president.
Currencies
The dollar settled mostly lower on Monday, but the losses were limited. The yen advanced .5% to 78.83, the pound gained .4% to 1.5624, while the euro and Swiss franc edged up .2%. The Australian dollar inched up .1% to 1.2046, while the Canadian dollar slipped 8 pips to 1.0148.
Economic Outlook
Retail sales unexpectedly fell .5% last month, well below forecasts for a marginal .1% increase. Business inventories increased .3%, slightly above forecasts, while the Empire State manufacturing index rose to 7.4 from 3.9.
Asian markets traded mostly higher on Monday, buoyed by Friday’s rally in the West. The Hang Seng edged up .2% to 19121, the Kospi rose .3% to 1818, and the ASX 200 advanced .6% to 4105. Energy and material shares were the primary gainers. The Shanghai Composite was a notable exception, tumbling 1.7% to 2148, a 2-year low, after profit warnings from several manufacturers sent shares sharply lower.
European markets ended little changed. The Dax rose .1% to 6566, while the FTSE and CAC40 declined less than .1%.
In the US, stocks declined as retail sales data fell short of forecasts. The Dow erased 50 points to 12727, the Nasdaq slid .4% to 2897, and the S&P 500 eased .2% to 1354.
Human Genome (HGSI) gained 4.5% after approving GlaxoSmithKline’s (GSK) offer to purchase the company for $3 billion.
Yahoo (YHOO) announced that Marissa Mayer, a former Google (GOOG) executive, will be the company’s new CEO and president.
Currencies
The dollar settled mostly lower on Monday, but the losses were limited. The yen advanced .5% to 78.83, the pound gained .4% to 1.5624, while the euro and Swiss franc edged up .2%. The Australian dollar inched up .1% to 1.2046, while the Canadian dollar slipped 8 pips to 1.0148.
Economic Outlook
Retail sales unexpectedly fell .5% last month, well below forecasts for a marginal .1% increase. Business inventories increased .3%, slightly above forecasts, while the Empire State manufacturing index rose to 7.4 from 3.9.
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