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2 Jul 2014
US stocks flat, Europe ends mixed
FXStreet (Córdoba) - Wall Street is rising modestly on Wednesday after better-than-expected US employment data. European markets finished little changed. Among currencies the US dollar is among the best performers.
The Europe Stoxx 600 was up 0.323% on Wednesday while amog country indexes, the UK FTSE 100 finished with a gain of 0.19%, the Germany's Dax 30 edged up 0.09%. The France’s Cac 40 lost 0.21%. In the US , the Dow Jones was up 0.07% still below the 17,000 mark, while the S&P 500 was rising a modest 0.03%.
Federal Reserve Chairwoman, Janet Yellen mentioned that the Fed’s policy rate needs to focus primarily in employment . She added that monetary policy faces limitations when its used as a tool to promote financial stability.
Employment data from the US ahead of Thursday's Non-Farm Payroll surpassed expectations. According to ADP the private sector added 281.000 jobs in June, above the 200.000 analysts expected. On the negative side, factory orders dropped 0.5% in May.
The USD gained momentum in the currency market after economic reports. The Pound is the best performer among European currencies. Gold was trading at $1,330/oz up 0.30% for the day while crude oil was falling less than 1%, with the barrel at $104.50.
The Europe Stoxx 600 was up 0.323% on Wednesday while amog country indexes, the UK FTSE 100 finished with a gain of 0.19%, the Germany's Dax 30 edged up 0.09%. The France’s Cac 40 lost 0.21%. In the US , the Dow Jones was up 0.07% still below the 17,000 mark, while the S&P 500 was rising a modest 0.03%.
Federal Reserve Chairwoman, Janet Yellen mentioned that the Fed’s policy rate needs to focus primarily in employment . She added that monetary policy faces limitations when its used as a tool to promote financial stability.
Employment data from the US ahead of Thursday's Non-Farm Payroll surpassed expectations. According to ADP the private sector added 281.000 jobs in June, above the 200.000 analysts expected. On the negative side, factory orders dropped 0.5% in May.
The USD gained momentum in the currency market after economic reports. The Pound is the best performer among European currencies. Gold was trading at $1,330/oz up 0.30% for the day while crude oil was falling less than 1%, with the barrel at $104.50.