7 May 2014
Markets mixed post-Yellen. Nasdaq slumps.
FXStreet (Edinburgh) - US shares are trading mostly with gains on Wednesday after Chairwoman Yellen’s testimony before the Joint Economic Committee.
Yellen’s tone was not as dovish as expected by most analysts. She underlined the positive prospects for the US economy in the second quarter, however she was concerned by the recent flat performance of the housing sector. At the moment DowJones is up 0.58% and the S&P500, 0.28%. On the other side of the road, the tech benchmark is losing 0.86%. The greenback, in terms of the DXY, is recovering part of yesterday’s sharp pullback, hovering over 79.20/25.
In the Old Continent, different sensations after Yellen’s speech and the situation in Ukraine left markets mixed: the IBEX35 dropped 0.64% followed by the FTSE100, down only 0.03%. On the winners’ side, the DAX advanced 0.57% ahead of the CAC40, 0.41%. The EUR/USD is extending its correction lower after yesterday’s peak near 1.3950, currently testing fresh lows around 1.3910.
In the commodities’ land, the ounce troy of gold is slipping 1.5% below $1,290 while the barrel of WTI is up more than 1% in the mid-$100.00s.
Yellen’s tone was not as dovish as expected by most analysts. She underlined the positive prospects for the US economy in the second quarter, however she was concerned by the recent flat performance of the housing sector. At the moment DowJones is up 0.58% and the S&P500, 0.28%. On the other side of the road, the tech benchmark is losing 0.86%. The greenback, in terms of the DXY, is recovering part of yesterday’s sharp pullback, hovering over 79.20/25.
In the Old Continent, different sensations after Yellen’s speech and the situation in Ukraine left markets mixed: the IBEX35 dropped 0.64% followed by the FTSE100, down only 0.03%. On the winners’ side, the DAX advanced 0.57% ahead of the CAC40, 0.41%. The EUR/USD is extending its correction lower after yesterday’s peak near 1.3950, currently testing fresh lows around 1.3910.
In the commodities’ land, the ounce troy of gold is slipping 1.5% below $1,290 while the barrel of WTI is up more than 1% in the mid-$100.00s.