Asian Markets are set to open higher after U.S. stocks climbed, giving the Standard & Poor’s 500 Index its biggest gain of the month, as better-than-estimated housing starts added to expectations the world’s largest economy will weather Europe’s debt crisis.

The Dow Jones Industrial Average finished 337.32 points higher, or 2.87%, at 12103.60 with a rally powered ahead by hopes for the financial market, relief for banks and a bit of short-covering after recent decline. The S&P500 rose 35.95 points, or 2.98%, to 1241.30, while the Nasdaq jumped 80.59 points or 3.19%.

Stocks gained as builders broke ground in November on more houses than at any time in the past 19 months. The Federal Reserve sought to curb the risk of financial turmoil by strengthening its tools for preventing the collapse of large firms and demanding stricter oversight by companies’ boards of directors. Concern about Europe’s crisis eased today as German business confidence unexpectedly grew.

The euro rallied to a one-week high against the dollar after borrowing costs fell at a Spanish bill sale and German business confidence unexpectedly increased, easing concern the region’s debt crisis is worsening.

WTI Oil prices rose, with U.S. crude posting the biggest percentage rise since late October, on supportive economic data that also lifted the euro and equities, coupled with worries about potential supply disruptions in Iran and Kazakhstan. U.S. January crude rose $3.19, or 3.39%, to settle at $97.24 a barrel, having reached $97.45 and pushing back above the 200-day moving average of $95.78.

Gold prices rose to their highest in nearly a week as the euro rallied 1% versus the dollar, with rising stock markets pointing to a sharper appetite for assets seen as higher risk at the U.S. currency’s expense. Spot was up 1.3% at $1,612.80 an ounce. Prices are within $10 of their 200-day moving average, a key technical level they fell through last week, which is just above $1,621 an ounce.

Source
Bloomberg, Dow Jones News

Asian Markets are set to fall after U.S. stocks retreated, following a two-day advance for the Standard & Poor’s 500 Index, amid concern European officials were failing to make progress in taming the debt crisis and as financial companies tumbled.

The Dow Jones Industrial Average finished 100.13 points lower, or 0.84%, at 11,766.30 with financial stocks the worst performing sector in thin trade today.. The S&P500 fell 14.31 points, or 1.17%, to 1205.35, while the Nasdaq dropped 32.19 points or 1.26%.

Equities rose the last two days of the week as data on jobless claims and manufacturing offset concern Europe’s crisis is escalating. Energy producers dropped 4.9% in the week, the most among 10 sectors in the S&P 500.

Equities slumped today as European Central Bank President Mario Draghi cited substantial risks to the economy and said the ECB can’t step up government bond purchases under its founding piece of legislation. Germany continued to oppose an early decision to raise the limit of 500 billion euros on overall emergency aid.

The euro fell for the first time in three days against the dollar before Spain sells securities later today as European finance ministers attempt to address the region’s debt crisis. The euro weakened 0.2 percent to $1.3016 at 2:06 p.m. in New York.

WTI Oil prices rose on Monday, reversing earlier losses as the dollar reversed direction after gains made earlier in the day on news of the death of North Korean leader Kim Jong il. January Crude Futures were 56 cents firmer at $94.09 a barrel. The benchmark lost 5.9% in the previous week.

Gold prices eased on Monday, as concerns that the euro zone debt crisis will hurt global growth kept the euro under pressure, although the precious metal lifted from early lows as the single currency pared some losses against the dollar.

Source
Bloomberg, Dow Jones News

Asian Markets are set to start the week with a flat start after European leaders struggled to solve the region’s debt crisis and the Federal Reserve refrained from additional stimulus.

The Dow Jones Industrial Average finished 2.42 points lower, or 0.02%, at 11,866.40 with Energy stocks helped keeping the market afloat while health care and utilities were among the weakest performers. The S&P500 rose 3.91 points, or 0.32%, to 1219.66, while the Nasdaq gained 14.32 points or 0.56%.

Equities rose the last two days of the week as data on jobless claims and manufacturing offset concern Europe’s crisis is escalating. Energy producers dropped 4.9% in the week, the most among 10 sectors in the S&P 500.

The euro fell against the dollar by the most in more than three months and touched an 11-month low as concern increased that the region’s leaders won’t be able to contain the sovereign-debt crisis. The euro dropped 2.5% to $1.3046 and touched $1.2946 Dec. 14, the lowest level since January. Its drop was the biggest since the five-day period ended Sept. 9

WTI Oil fell, capping the biggest weekly decline since September, on concern that European economic growth will slow, curbing fuel demand. Oil for January delivery fell 34 cents, or 0.4%, to $93.53 a barrel on the New York Mercantile Exchange, the lowest settlement since Nov. 2.

Gold rallied on Friday after a sharp pullback in the four previous sessions, gaining support from a weaker dollar and short-cover buying, but the metal remained on track for its biggest weekly decline in almost three months.

Source
Bloomberg, Dow Jones News

Asian Markets are set to fall on opening after U.S. stocks in afternoon trade, reversing an earlier advance for the Standard & Poor’s 500 Index, after Federal Reserve policy makers refrained from taking new actions to bolster growth at the world’s largest economy.

The Dow Jones Industrial Average finished 66.45 points lower, or 0.55%, at 11,954.90 with the financial sector falling over 2%o. The S&P500 fell 10.74 points, or 0.87%, to 1236.48, while the Nasdaq fell 32.99 points or 1.26%.

Stocks fell as the Fed said the U.S. economy is maintaining its expansion even as the global economy slows, while refraining from taking new actions to lower borrowing costs. Today’s statement reiterated the warning at the Fed’s two previous meetings that “strains in global financial markets continue to pose significant downside risks to the economic outlook.”

The dollar strengthened against all of its most-traded counterparts after the Federal Reserve took no additional measures to spur growth, reducing concern policy makers are eroding the value of the world’s reserve currency. The euro fell to an 11-month low against the dollar on concern European leaders won’t agree on ways to expand the region’s rescue capacities as debt-strapped nations struggle to fund their deficits.

WTI Oil rose the most in almost four weeks on speculation that supplies from the Persian Gulf would be disrupted after a report that Iran will hold drills to practice closing the Strait of Hormuz. Oil for January delivery gained $2.37 to settle at $100.14 a barrel on the New York Mercantile Exchange, the biggest increase since Nov. 16.

Gold fell around 2.5%, posting its largest two-day loss in nearly three months, as the dollar rallied after the Federal Reserve held its policy steady with no new market stimulus.

Source
Bloomberg, Dow Jones News

Asian Markets are set to fall on opening after U.S. stocks fell, as Moody’s Investors Service and Fitch Ratings said last week’s summit did little to ease pressure on Europe’s struggling governments.

The Dow Jones Industrial Average finished 162.87 points lower, or 1.34%, at 12021.40 with financial and energy stocks falling the most. The S&P500 fell 18.71 points, or 1.49%, to 1236.48, while the Nasdaq fell 34.59 points or 1.31%.

Stocks finished well off their lows for the day, but it was still good enough for a 160-point drop in the Dow and an equally tough day for tech stocks. An aggressive two-week rally came to a quiet thud Monday on Wall Street, in a light-volume selloff triggered by the familiar fears that Europe was far from solving its sovereign debt crisis.

The EURUSD fell to the lowest level in two months versus the dollar as Moody’s Investors Service said it will review the ratings of European Union nations after last week’s summit failed to produce decisive steps to end the debt crisis. The euro fell 1.5% to $1.3184

WTI Oil fell to the lowest level in more than two weeks as Moody’s Investors Service said it will review the credit ratings of all European Union countries and China’s export growth slowed to the weakest pace since 2009.

Gold dropped around 3% on Monday, its largest one-day drop in nearly three months, as doubts over a deal for European economic integration triggered a technical breakdown.

Source
Bloomberg, Dow Jones News

Asian Markets are set open higher after U.S. stocks rose, sending the Standard & Poor’s 500 Index to its first back-to-back weekly gain since October, after European leaders agreed to boost a rescue fund and reports spurred optimism about the economy.

The Dow Jones Industrial Average finished 186.56 points higher, or 1.55%, at 12184.56 as reports out of Europe spurred investor optimism. The S&P500 rose 20.84 points, or 1.69%, to 1255.19, while the Nasdaq rose 50.47 points or 1.94%.

The S&P 500 erased a weekly loss on Dec. 9 after the Thomson Reuters/University of Michigan gauge of confidence among consumers topped the median economist projection. Earlier in the week, data showing that fewer Americans than forecast filed applications for unemployment benefits added to signs the job market is improving.

The EURUSD fell slightly, closing 0.1 % to $1.3386 from $1.3391 on Dec. 2, after touching a one-week low of $1.3282 yesterday. The shared currency declined 0.5 to 103.89.

WTI Oil climbed the most in more than a week after a report showed that confidence among U.S. consumers rose to a six-month high and as European leaders agreed to boost the region’s rescue fund and tighten budget rules.

Gold prices rose Friday following the previous day’s tumble to settle at $1,716, swept higher in an equities rally as EU leaders agreed to push for a deeper economic integration and as U.S. consumer sentiment hit a six-month high.

Source
Bloomberg, Dow Jones News

Asian Markets are set to fall on opening as European and US stocks fell overnight. The fall in stocks markets were a result of Germany rejecting some the EU draft summit measures and the ECB president dashing hopes of further bond purchases.

The Dow Jones Industrial Average finished 198.67 points lower, or 1.63%, at 11,997.70 after a relatively muted start stocks fell throughout the session. The S&P500 dropped 26.66 points, or 2.11%, to 1234.35, while the Nasdaq fell 52.83 points or 1.99%.

The Volatility index, which is the best measure of fear in the market, closed above 30, while all 10 sectors of the S&P500 were down.

The EURUSD fell the most in three weeks against the yen and slumped versus the dollar after European Central Bank President Mario Draghi said he didn’t signal stepping up bond purchases to spur growth. The Euro dropped 0.6% to $1.3336.

WTI Oil fell for a second straight day to settle at $98 a barrel on Thursday as a cut in interest rates by the European Central Bank and a drop in U.S. jobless benefit claims failed to improve investors’ appetite for risk. January Futures were down 2.1% at $98.34, after falling to a session low of $98.27, cheapest since Nov. 29.

Gold prices fell around 2% to settle at $1,713 on Thursday, its biggest one-day drop in nearly three weeks, after the European Central Bank dashed hopes of more-dramatic action to fight the region’s debt crisis

Source
Bloomberg, Dow Jones News