Global Stocks: Nikkei at 15-year high and Wall Street moderately lower despite dovish FED minutes
U.S. markets moderately declined on Wednesday recovering from early losses on weak U.S. economic data after the Federal Reserve policy meeting minutes release. The dovish minutes showed that the FED is concerned about raising benchmark interest rates too soon might harm the economic recovery. Today market participants await data including Initial Jobless Claims and the Philadelphia Fed Manufacturing Survey.
On Wednesday the DOW JONES index lost -0.10% closing at 18,029.85 points. The S&P 500 closed -0.03% with a final quote of 2,099.68 declining from a record high hit yesterday by less than a point.
Chinese markets are closed today for a public holiday as the Lunar New year celebrations take place.
Japanese markets closed at a 15-year high in today's trading despite a stronger Japanese yen. The Nikkei added gains in early trading helped by financials and shipping companies, closing +0.36% with a final quote of 18,264.79 points - the highest level since 2000. Sony shares led gains as the company published a well perceived business plan. Yesterday the Bank of Japan held its unprecedented monetary policy steady. The outlook for exports and factory output was upgraded and consumption remains firm according to BOJ Governor Kuroda. The Japanese Adjusted Merchandise Trade Balance came in at -406.1 billion for January. Economists expected a reading of -600 billion.
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