The Right Stock At The Right Time®  Launch Smart Chart
Updated For:
  Home     Markets     Stocks   |   ETF Center   |   Stock Watch   |   Screening Tools   |   Trading Ideas   |   Advanced Tools   |   Help/Contact Us    
Daily Market Comment 
Dr. ME Talks Stocks 
Market Letter
On The Edge
The Outlook
Email Alert

News & Analysis
Stocks & Funds
Options & Futures
Personal Finance

By Providers
Standard & Poor's


05/29/15 04:30:49 PM

S&P Market Commentary

... LONDON (AP) Ongoing uncertainty over the state of Greek bailout talks and further market volatility in China kept stocks in check on Friday. KEEPING SCORE: In Europe, France's CAC-40 was down 1 percent at 5,087 while Germany's DAX was down the same rate at 11,562. The FTSE 100 index of leading British shares bucked the trend in Europe, trading 0.2 percent higher at 7,052. Wall Street was poised for a modest retreat at the open with Dow futures and the broader S&P 500 futures down 0.1 percent. GREEK CONFUSION: Though Greek Prime Minister Alexis Tsipras has said a deal with creditors could be ready by the weekend, others are less confident. Christine Lagarde, the head of the International Monetary Fund, said a Greek exit from the euro remains a possibility, while German Finance Minister Wolfgang Schaeuble, appeared lukewarm in comments following the end of a meeting of top finance officials in Berlin. Without a deal for remaining bailout cash soon, Greece faces going bankrupt and ditching the euro. Figures from the European Central Bank showing Greek bank deposits at their lowest in more than a decade only added to the prevailing gloom. ANALYST TAKE: "It's the last trading day before the end of May deadline for Greece, and traders are not takings any chances," said David Madden, market analyst at IG. "Until we have some clarity about a deal being struck, dealers will always fear for the worst." CHINA GYRATIONS: As well as worrying about Greece, traders around the world are fretting about the performance of Chinese stocks. The Shanghai stock market has been volatile of late after soaring more than 120 percent in the past year. Among the reasons cited by analysts and state media for Thursday's sell-off were stricter margin lending requirements by brokers; a Chinese sovereign wealth fund dumping shares in two state banks; the central bank draining liquidity from the market; and a wave of initial share offerings expected next week that will compete for Chinese investors' money. ASIAN SCORECARD: The Shanghai Composite Index in mainland China finished 0.2 percent lower at 4,611.74 after spending the day swinging between gains and losses following its 6.5 percent tumble on Thursday. Japan'sNikkei 225 edged up 0.1 percent to 20,563.18 and South Korea's Kospi added 0.2 percent to 2,114.80. Hong Kong's Hang Seng rose 0.1 percent to 27,424.19 and Australia's S&P/ASX 200 rose 1.1 percent to 5,777.20. ENERGY: Benchmark crude rose as U.S. supplies declined more than expected. The futures contract was up 91 cents to $58.59 a barrel in electronic trading on the New York Mercantile Exchange. It rose 17 cents to settle at $57.68 a barrel in Nymex floor trading on Thursday. Brent crude, used to price oil sold internationally, rose 75 cents to $63.33 in London. CURRENCIES: Foreign exchange markets were fairly tranquil despite the choppiness of stock markets. The euro was up 0.1 percent at $1.0976 while the dollar rose 0.2 percent to 123.94 yen.


Past performance is not a guarantee of future results. The data contained in Market Edge is obtained from sources considered by Computrade Systems, Inc. to be reliable but the accuracy and completeness thereof are not guaranteed. Computrade Systems, Inc. does not and will not warrant the performance and results that may be obtained while using the Market Edge research service.
The Market Edge research service & Second Opinion are neither offers to sell nor solicitations of offers to buy any security.
Company profile, estimates and financials provided by Standard & Poor's
See User Agreement for other disclaimers.
Market Edge and Second Opinion are registered trademarks of Computrade Systems, Inc.
© 2015 Computrade Systems, Inc.
© 2015 The McGraw-Hill Companies, Inc. Standard & Poor's is a division of The McGraw-Hill Companies, Inc. See full Copyright for details.