BT Three Minute Markets Update
Summary: BT's Chief Economist Chris Caton and our expert product managers provide a recorded regular update on current market conditions. The updates are current, quick and easy to listen to.
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Podcasts:
Events in the Ukraine were the significant driver in economic returns; expect Aus market to open weaker.
A light night: data out of Europe modestly softer; markets were quiet - S&P finished flat.
Equities were stronger while bond yields continued to fall, particularly across Europe; US equities hit a new record close.
Markets on Friday were focused on speeches by Janet Yellen and Mario Draghi; few conclusions could be drawn from Yellen's speech.
US equities were up and only 0.7% off all-time record highs; European markets were slightly weaker.
Headlines that Ukrainian troops destroyed part of a Russian convoy ensured a weak finish for European markets and a mixed performance by US equities.
Initial jobless claims for week ending August 9 up 311,000, up from the previous week's 290,000.
July's retail sales came in flat, down on consensus's .2%; core sales rose by 0.1%, down on consensus's .4%.
July deficit is expected to be $94.6 billion, $460 billion for the financial year - a 22.4% improvement on a year ago.
US growth has been slower than expected due to weak housing, restrictive policies and slow global growth, according to Federal Reserve Vice Chair Stanley Fisher.
FTSE -0.5%, DAX -0.3%, Dow and S&P both +1.1%; Dow +0.4% and S&P +0.3% for the week.
Soft night: FTSE -0.5%, DAX -0.1%, Dow -0.5%, S&P -0.6%.
FTSE -0.7%, DAX -0.6%, Dow +0.1%, S&P flat; weak economic news in Europe.
Factory orders +1.1% in June, twice consensus's estimate; ISM non-manufacturing index for July increased to 58.7 from 56.
We may be slightly up as the US recouped some of last week's losses but Europe mixed: FTSE flat, DAX -0.6%, Dow +0.5%, S&P +0.7% The Reserve will meet to decide on no rate rise.
