| Global Market Wrap-Up - September 2, 2010 |
September 3, 2010 - 6:36am — mhanna
U.S. stocks continued to bask in a second day of advance, in a quiet session ahead of Friday's monthly employment data and the ISM Services report. The S&P 500 gained 0.9% while the NASDAQ rose 1.1%. The three economic reports of the day were weekly jobless claims, factory orders, and pending home sales, the latter seemingly affecting the market more as it had a slight upward bias.
In Europe indexes were flat to slightly up as eurozone GDP was announced at 1%, and the ECB held rates at 1% for the 16th consecutive month. Britain gained 0.1%, Germany was flat, and France rallied 0.2%.
Brazil fell 0.4%.
Mark Hanna, known in the financial community as "TraderMark," provides his insightful daily market coverage in this column, exclusive to Euro Pacific Capital.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. Please feel free to repost with proper attribution and all links included.
Thursday, September 2, 2010
By:
Mark Hanna - The initial jobless claims count for the week ended August 28 came in at 472,000, which is in on par with the 475,000 initial claims that had been widely expected. The latest tally was also little changed from the prior week total of 478,000.
- Pending home sales for July provided participants with a positive surprise. They posted a 5.2% monthly increase, which contrasts with the call for no change from economists. That data overshadowed news that factory orders for July increased 0.1% instead of 0.3% as had been widely expected.
In Europe indexes were flat to slightly up as eurozone GDP was announced at 1%, and the ECB held rates at 1% for the 16th consecutive month. Britain gained 0.1%, Germany was flat, and France rallied 0.2%.
- France's government says unemployment fell slightly in the second quarter to 9.7% from 9.9%, the first drop in two years.
Brazil fell 0.4%.
Mark Hanna, known in the financial community as "TraderMark," provides his insightful daily market coverage in this column, exclusive to Euro Pacific Capital.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License. Please feel free to repost with proper attribution and all links included.
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