Stock Markets Report 27th November

US Stocks

US equities were seen climbing amid the economic reports released on Wednesday. The market was muted in celebration of Thanksgiving holiday on Thursday.

The Standard & Poor’s 500 index added 0.3% to 2,072.83, while the Dow Jones Industrial Average gained 0.07% to 17,827.69 and Nasdaq technology rose 0.61% to close at 4,787.32 on Wednesday. 

A report released by the US Department of Commerce on Tuesday revealed that the world’s largest economy expanded at an annualized rate of 3.9% in the third quarter, while analysts forecasted a decline of 3.3%.

A separate report released showed that durable goods orders in the US climbed in October by 0.4% from the 0.9% decline seen in the previous month.

As the market shuts on Thursday for the Thanksgiving holiday, the weekly report on initial unemployment claims was released on Wednesday and showed that the number of people in the US filing for unemployment claims increased to a seasonally adjusted 313,000 in the week ended November 22, the highest since early September.

The Chicago PMI fell to 60.8 points in November from October’s reading of 66.2 points, while analysts expected a reading of 63.0.

Asia stocks

Stocks in the Asian region were mostly seen trading in the red territory on Thursday as the stronger yen dragged exporter’s gains lower.

The Japanese Nikkei 225 index declined 0.33% to 17,325.71 points during the early trading hours, while Tokyo’s Topix index lost 0.52% to 1,399.11 points.

The Japanese yen strengthened against the US dollar, trading around 117.50 yen on Thursday versus 117.80 yen on Wednesday. The firmer yen dragged most of the nation’s exporters lower, with Honda Motor falling 1.9%, Nissan and Suzuki each lost 0.7%. On the positive side, electronic manufacturers Panasonic and Toshiba each gained 1%.

Hong Kong’s Hang Seng index climbed 0.3% to 24,183.38 points, while the Chinese mainland Shanghai Composite added 0.42% to 2,615.96 points.

The South Korean Kospi index was up 0.08% to 1,980.21 points, while Australia’s benchmark S&P/ASX 200 index rose 0.11% to trade at 5,402.10.

In Sydney, banking stocks saw gains with ANZ rising 0.4% higher, Westpac added 0.35, National Australia Bank rallied 1% and Commonwealth Bank of Australia edged 0.1% higher.

Europe Stocks

European stocks traded higher on Thursday before the release of Germany’s inflation report, while the spotlight is on European Central Bank’s (ECB) President Mario Draghi, as he’s expected to deliver a speech in Helsinki later in the day.

Europe’s Euro Stoxx 50 rose 0.24% higher to 3,233.35, while the UK’s FTSE 100 index fell 0.01% to 6,728.31 points.

Germany’s DAX 30 index added 0.48% to 9,962.48 after a report released showed that the number of unemployed citizens in Germany fell 14,000 in November, while the unemployment rate remained unchanged at 6.6%.

A separate report on Germany’s inflation is expected to be released and forecasted to show a growth of 0.6% in November, according to analysts.


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