February 2015

Gold Plunges to 7-Week Low After Yellen Statement

Gold prices plunged to their lowest in seven weeks after Janet Yellen, chair of the Federal Reserve, spoke before Washington lawmakers. While market participants have been following the comments of central bank officials for months in an attempt to determine when the financial institution will decide to push its benchmark rates higher, Yellen’s testimony revealed the financial institution is readying itself to consider potential increases on a “meeting-by-meeting” basis.  Read more

Emerging-Market Stocks Climb After Fed Testimony

Emerging-market equities climbed on Tuesday, Feb. 24, after Federal Reserve Chair Janet Yellen testified before Washington lawmakers. Speaking in front of the Senate Banking Committee, Yellen provided greater clarity on the central bank’s current view of economic conditions and offered additional information on the outlook for future interest rate hikes.

Greek developments

Another key development that coincided with this stock rally was news that eurozone finance ministers and Greece obtained greater clarity on the concessions the country will need to make in exchange for its extension, according to Bloomberg.  Read more

Oil Declines Amid Rising US Crude Stockpiles

Oil prices declined on Thursday as crude inventories in the US climbed higher than forecasted.

Futures for the North American West Texas Intermediate (WTI) slid 0.73% to $50.62 per barrel on the New York Mercantile Exchange at the time of writing. On Monday, the contract closed at $49.45 a barrel.

The European benchmark Brent crude edged 0.45% lower to $61.35 a barrel on the London-based ICE Futures Europe exchange.  Read more

Stock Markets Report 26th February

Asia Stocks

Asian stocks were seen swinging in between gains and losses on Thursday, as the Japanese yen weakened against the greenback.

The Japanese benchmark Nikkei 225 Stock Average gained 1.1% to 18,785.79, a 15-year high; while Tokyo’s Topix Index rose 0.9% to 1,521.68 after Goldman Sachs raised its 12-month target price for the Topix to 1,700. The yen weakened against the US dollar, trading around 119 yen on Thursday, compared to 118.80 yen on Wednesday.  Read more