Asian Markets are set to open lower after U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a third day, as European leaders sparred with Greece over a second rescue program.

The S&P500 fell 3.32 points, or 0.25%, to close at 1313.01 with financials leading the declines. The Dow Jones Industrial Average finished 6.74 points lower, or 0.05%, at 12653.70, while the Nasdaq also dropped 4.61 points or 0.16%.

Stocks cut most of their earlier losses, but still finished in negative territory as ongoing worries over the euro zone debt crisis kept investors from fully jumping in. EU leaders met in Brussels to sign off on a permanent rescue fund for the euro zone. Greek Prime Minister Lucas Papademos will be among them as negotiators in Greece race to secure a debt swap deal. A FT report said that Greece had angrily rejected a German proposal to create a European budget “overseer” to monitor the country’s finances in return for a second bailout, further adding to investors’ anxiety.

Greece’s unresolved debt restructuring knocked the euro from a six-week high against the U.S. dollar and drove it to a 4-1/2-month low against the safe-haven Swiss franc. The euro did cut some of the earlier losses after European Union leaders reached an agreement on the introduction of a permanent euro zone financial bailout mechanism, with details to be worked out at a later date. It fell nearly 1%on the day to $1.31, having hit a six-week high of $1.3233 in early trade.

Oil declined as European leaders sparred with Greece over a second rescue program and U.S. consumer spending stalled, bolstering concern that economic growth and fuel demand will slow.  Crude for March delivery fell 78 cents, or 0.8%, to settle at $98.78 a barrel.

Gold declined from a seven-week high in New York as the dollar gained after Greece signalled opposition to economic oversight in exchange for aid, lowering demand for the precious metal as an alternative investment. Gold futures for April delivery fell 0.1%to settle at $1,734.40 an ounce.

Source
Bloomberg, Dow Jones News

Asian Markets are set to open lower after U.S. stocks fell, reversing a rally that sent the Dow Jones Industrial Average toward its highest level since 2008 earlier today, as banks tumbled and a report showed that sales of new homes unexpectedly slumped.

The S&P500 fell 7.61 points, or 0.46%, to close at 1218.46 with energy and telecoms the hardest hit sectors. The Dow Jones Industrial Average finished 22.33 points lower, or 0.17%, at 12734.63, while the Nasdaq also dropped 13.03 points or 0.57%.

Equities reversed gains today after a report showed that sales of new U.S. homes unexpectedly declined in December for the first time in four months, capping the slowest year on record for builders. Claims for U.S. jobless benefits rose last week, displaying the usual volatility around holidays that has masked an improvement in the labor market. Orders for U.S. durable goods advanced more than forecast in December.

Benchmark gauges rose yesterday as the Fed signalled low rates through at least late 2014 and didn’t rule out bond purchases to bolster the economy. Investors also watched earnings reports. Of the 146 S&P 500 companies that reported results since Jan. 9, 100 posted per-share earnings that beat projections, according to data compiled by Bloomberg.

The euro hit a five-week high against a broadly weak dollar on Thursday on speculation of progress in Greek debt negotiations and after the U.S. Federal Reserve indicated interest rates would stay at ultra-low levels for at least another two years.

Oil rose after the Federal Reserve announced it plans to keep U.S. interest rates near a record low through 2014 and a report showed durable goods orders in the world’s biggest crude-consuming country increased. Crude oil for March delivery increased 30 cents to $99.70 a barrel.

Gold prices hit 6 1/2 week highs as stock markets, commodities, and the euro all rallied after the Federal Reserve said it planned to keep interest rates at rock bottom for some years and hinted at further economic stimulus measures. U.S. gold futures for February delivery settled up $24.80 an ounce at $1,724.90.

Source
Bloomberg, Dow Jones News

Asian Markets are set for a muted start to the day after U.S. stocks retreated, ending a five-day advance in the Standard & Poor’s 500 Index, amid a stalemate between European finance ministers and Greek bondholders over how to resolve the nation’s debt crisis.

The S&P500 fell 1.37 points, or 0.10%, to close at 1314.63 with consumer discretionary stocks performing well. The Dow Jones Industrial Average finished 33.07 points lower, or 0.26%, at 12675.00, while the Nasdaq also slightly rose 2.47 points or 0.1%.

Global stocks slumped as European finance ministers pushed bondholders to provide greater debt relief for Greece, spurring concern the nation may fail to make a March 20 bond payment. The International Monetary Fund cut its forecast for the global economy. President Barack Obama tonight will lay out what he calls a “blueprint” for revitalizing the economy in his third State of the Union address before a joint session of Congress.

The dollar rose, reaching the highest level this year against the yen, as European policy makers and Greek bondholders failed to reach an agreement on a debt-swap plan for the indebted nation, spurring safety demand. The dollar rose 0.9% to 77.73 yen, The greenback was little changed at $1.3022 per euro.

Oil dropped as a stalemate between European policy makers and Greek bondholders over debt relief increased concern that the European credit crisis will spread. Crude oil for March delivery fell 63 cents to settle at $98.95 a barrel.

Gold eased on Tuesday after the euro fell following the breakdown of talks over the restructuring of Greece’s debt, but the bullion price was still in sight of six-week highs and set for its strongest monthly gain since August.

Source
Bloomberg, Dow Jones News

Asian Markets are set for a muted start to the day after US Stock closed mixed as Europe sought to tame its debt crisis and investors debated whether a three-week rally was warranted.

The S&P500 rose 0.62 points, or 0.05%, to close at 1316.00 with energies gaining and telecoms lagging. The Dow Jones Industrial Average finished 11.66 points lower, or 0.09%, at 12708.82, while the Nasdaq also slightly fell 2.53 points or 0.09%.

Stocks ended flat in quiet trading as investors continued to monitor developments in the Greek debt negotiations and ahead of the Fed’s two-day FOMC meeting this week.

The euro strengthened to an almost three-week high against the dollar as French Finance Minister Francois Baroin said negotiations between Greece and its private creditors are making “tangible progress.” The euro gained 0.8% to $1.3029.

Oil rose for the first time in four days after the European Union agreed to ban crude imports from Iran, raising concern that retaliation from the Islamic Republic may disrupt the oil supply in the Middle East. Oil for March delivery climbed $1.25 to settle at $99.58 a barrel.

Gold rose 1% on Monday to a six-week high, boosted by technical buying and as the euro rallied ahead of the outcome of a euro zone meeting on Greek debt restructuring. U.S. gold futures for February delivery rose $14.30 to settle at $1,678.30 an ounce.

Source
Bloomberg, Dow Jones News

Asian Markets are set to start the day higher after U.S. stocks rose for a third week, the longest winning streak since October, as better-than- estimated economic data and company earnings boosted confidence in American growth.

The S&P500 rose 0.88 points, or 0.07%, to close at 1315.38 with 9 out of 10 sectors closing higher. The Dow Jones Industrial Average finished 96.50 points higher, or 0.76%, at 12720.48, while the Nasdaq slightly fell 1.63 points or 0.06%.

Technology and energy companies led rallies by nine out of 10 Standard & Poor’s 500 Index groups, climbing more than 2.7%. Sears Holdings Corp. added 46% amid speculation it may go private and optimism CIT Group Inc. will approve financing for the retailer’s vendors. Bank of America Corp. (BAC) led Dow Jones Industrial Average gains after posting a profit. International Business Machines Corp. increased 5.2% after forecasting earnings that beat analysts’ estimates..

The euro rose for the first time in seven weeks after bets the 17-nation currency would weaken reached a record and as member nations’ borrowing costs fell at bond auctions, mitigating debt-crisis pessimism. The euro rose 2%to $1.2931, the biggest weekly gain since Oct. 14.

Oil fell to the lowest level in a month as Chinese manufacturing contracted and negotiations to resolve Greece’s debt crisis entered a third day, fanning concern that Europe’s economy will slow. Crude for February delivery dropped $1.93 to $98.46 a barrel.

Gold’s rise was eclipsed by a 4% surge in silver on Friday, with investors optimistic about the technical picture and prospects for a Greek deal soon with private bondholders. U.S. gold futures for February delivery settled up $9.50 at $1,664 an ounce.

Source
Bloomberg, Dow Jones News

Asian Markets are set to start the day higher after U.S. stocks rose, sending the Standard & Poor’s 500 Index to the best start since 1987, after confidence among homebuilders topped forecasts, Goldman Sachs Group Inc. (GS) rallied and concern about Europe eased.

The S&P500 rose 14.37 points, or 1.11%, to close at 1308.04 with the tech sector’s leading the gains. The Dow Jones Industrial Average finished 96.88 points higher, or 0.78%, at 12579.00, while the Nasdaq rose 41.63 points or 1.53%.

Stocks gained as confidence among U.S. homebuilders rose in January to the highest level in more than four years. Equities extended gains as an official told reporters that Greece’s government could forge an agreement with private creditors by the end of this week after talks resumed in Athens today. The International Monetary Fund is proposing to raise its lending capacity by as much as $500 billion to safeguard the economy.

The euro gained for a second day versus the dollar and the yen as the International Monetary Fund proposed raising its lending capacity by as much as $500 billion to protect the global economy amid Europe’s debt turmoil. The euro appreciated 0.9% to $1.2856.

Oil declined in New York as the Obama administration denied a permit for TransCanada Corp. (TRP)’s Keystone XL pipeline, which would have carried crude to U.S. Gulf Coast refineries from Alberta’s oil sands. Crude oil for February delivery fell 12 cents to settle at $100.59 a barrel.

Gold rose on gains in the euro, U.S. equities and optimism that the International Monetary Fund will raise additional funds to help combat Europe’s debt crisis. U.S. gold futures gained $4.30 an ounce to settle at $1,659.90.

Source
Bloomberg, Dow Jones News

Asian Markets are set to start the day higher after U.S. stocks advanced, extending a two-week rally for the Standard & Poor’s 500 Index, after reports bolstered optimism in the American and German economies and Spain’s borrowing costs decreased at an auction.

The S&P500 rose 4.58 points, or 0.36%, to 1293.67 with energy and the tech sector’s leading the gains. The Dow Jones Industrial Average finished 60.01 points higher, or 0.48%, at 12482.07, while the Nasdaq rose 17.41 points or 0.64%.

Stocks rose as manufacturing in the New York region expanded in January at the fastest pace in nine months. German investor confidence rose the most on record in January. Spanish borrowing costs fell at an auction as investors ignored S&P downgrades last week. China’s economy expanded at the slowest pace in 10 quarters, sustaining pressure on Premier Wen Jiabao to ease monetary policy.

The euro rose for the first time in three days against the dollar and the yen as Spanish and Greek borrowing costs fell at auctions, damping concern the region’s most-indebted nations will struggle to fund their deficits. The euro gained 0.5% to $1.2735.

Oil rose for the first time in four days as German investor confidence jumped the most on record and as France pushed for faster enforcement of the European Union’s proposed ban on oil imports from Iran. Crude for February delivery rose $2.01, or 2%, to settle at $100.71 a barrel.

Gold climbed to its highest price in five weeks, rising in tandem with the euro and equities on technical buying and as lacklustre economic data from China lifted investor hopes for monetary stimulus there. U.S. gold futures settled up $24.80 an ounce at $1,655.60.

Source
Bloomberg, Dow Jones News

Asian Markets are set to start the day slightly higher after European stocks advanced to a five- month high, snapping three days of losses, as France auctioned debt at a lower borrowing cost even after Standard & Poor’s stripped the country of its top credit rating.

US markets were closed for the Martin Luther King Jr Holiday.

The Stoxx Europe 600 Index climbed 0.8% to 251.12 at the close, rising above its 200-day moving average to the highest level since Aug. 3. The benchmark measure earlier fell as much as 0.5%. The gauge erased its gains on Jan. 13, the final day of trading last week, amid reports S&P planned to downgrade several euro-area countries.

U.S. stock-index futures rose as French borrowing costs fell in the first sale of bills since Standard & Poor’s downgraded the country.  France sold 1.9 billion euros ($2.4 billion) of one-year notes today at a yield of 0.406%, down from 0.454% on Jan. 9. as investors shrugged off S&P’s downgrade.

The euro weakened for a second day, falling to an 11-year low against the yen after Standard & Poor’s stripped France of its top credit rating and cut eight other euro-region countries.  The euro fell 0.1% to $1.2664, after dropping to $1.2626.

Oil climbed from the lowest price in almost four weeks as Iran said that a disruption to crude supplies through the Strait of Hormuz would cause a shock to markets that “no country” could manage. Crude for February delivery rose as much as $1.10 to $99.80 a barrel in electronic trading.

Gold firmed a touch on Monday in U.S. holiday-thinned trade, with firmer stock markets and a recovery in the euro from early lows taking some pressure off the metal, while traders digested last week’s euro zone downgrades from Standard & Poor’s. U.S. gold futures for February delivery were also up in electronic trading.

Source
Bloomberg, Dow Jones News

Asian Markets are set to open weaker after U.S. stocks rose for a second week, with benchmark indexes reaching five-month highs on Jan. 12, as bets China may act to spur economic growth outweighed concern about credit-rating cuts for some European nations.

The S&P500 fell 6.41 points, or 0.49%, to 1289.09 with finials and tech sector’s leading stocks into the red. The Dow Jones Industrial Average finished 48.96 points lower, or 0.39%, at 12422.10, while the Nasdaq fell 14.03 points or 0.51%.

Stocks ended their four-day winning streak on the last day of the week as France and Austria were stripped of its top credit rating by S&P and banks suspended talks with Greece over debt restructuring, the first blows this year to efforts aimed at stemming Europe’s fiscal turmoil. Germany, Europe’s biggest economy, retained its AAA rating in a review of euro-area countries’ credit grades by S&P.

Spain and Italy were also downgraded, while Finland, the Netherlands and Luxembourg also kept their AAA ratings. While the ratings actions weren’t confirmed by S&P until after close of U.S. exchanges, European officials had revealed some of them during the trading session.

The euro weakened for a second day, reaching an 11-year low versus the yen, after Standard & Poor’s stripped France of its top credit rating and cut eight other euro-zone nations. The euro fell 0.3% to $1.2636 as of 5:29 a.m. in Tokyo from $1.2680 at the close of trading last week.

Oil dropped to a three-week low after two European Union officials said an embargo on Iranian crude imports may be postponed for six months. Crude oil for February delivery fell 40 cents to $98.70 a barrel.

Gold fell around 1%v on Friday, after the dollar surged against the euro and fears about the credit downgrade of euro zone countries prompted bullion investors to take profits on the recent rally. U.S. gold futures for February delivery settled down $16.90 an ounce at $1,630.80.

Source
Bloomberg, Dow Jones News