Wednesday, January 23, 2013
U.S. stocks continued to grind up in the absence of economic news Wednesday as earnings data from IBM helped push up the Dow, and Google helped the NASDAQ. However, after market close Apple reported numbers that disappointed investors sending the stock down some 10% which should impact the markets materially tomorrow. For the day the S&P 500 gained 0.15% and the NASDAQ 0.3%.
- The market cheered a vote in the House of Representatives to suspend the U.S. debt ceiling through May 19, as anything that "kicks the can" is celebrated by markets.
Crude oil fell 1.5% to $95.23, gold fell 0.4% to $1686.70, while silver gained 0.8% to $32.44.
The FTSE 100 gained 0.15%, the German DAX 0.3%, while the French CAC-40 fell 0.4%.
- U.K. unemployment fell by 37,000 people in the three months to the end of November, marking 10 months of consecutive declines.
- Minutes from the Bank of England's January meeting showed the majority of members on the rate-setting committee felt that further stimulus was unjustified.
Japan's Nikkei slumped 2.1% as the yen bounced for a second session, while China's Shanghai gained 0.25%.