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Morning Market Roundup: Stocks Cautious Ahead of Key Econ. Reports

Jan. 28, 2013 9:31am Becket Adams

Here’s what’s shaking:

Stocks:

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Markets have begun the new week sluggishly after a buoyant start to the year where many of the world’s major stock indexes have been trading at multiyear highs.

With little to catch investors’ eyes, trading has been muted Monday, particularly in Europe. However, a raft of economic data and corporate earnings over the week, particularly out of the U.S., should see the tempo pick up.

In Europe, the FTSE 100 index of leading British shares was flat at 6,283, while the CAC-40 in France was more or less unchanged at 3,776. Germany’s DAX was 0.1 percent lower at 7,854.

Hong Kong’s Hang Seng rose 0.4 percent to 23,671.88. Mainland Chinese shares ended higher, with the Shanghai Composite Index jumping 2.4 percent to 2,346.51. The smaller Shenzhen Composite Index gained 2.5 percent to 932.61.

Trading was lackluster elsewhere in other financial markets too, with the euro down 0.1 percent at $1.3452 and the dollar 0.2 percent lower at 90.68 yen.

The price of benchmark New York crude was 8 cents higher at $95.96 a barrel.

Oil:

Getty Images

The price of oil was steady near $96 a barrel on Monday as investors awaited the release this week of key U.S. economic indicators, including on jobs, home sales and GDP.

By early afternoon in Europe, benchmark oil for March delivery was down 4 cents to $95.84 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 7 cents to close at $95.88 on the Nymex on Friday after a report showed a cooling off in new U.S. home sales.

Analysts said there was scope for price gains if the data confirm a steady recovery in the U.S. economy, the world’s largest.

Brent crude, used to price international varieties of oil, was down 31 cents to $112.97 a barrel on the ICE Futures exchange in London.

Markets:

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The AP contributed to this report.

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Comments (4)

barber2
Posted on January 28, 2013 at 10:16am
Obama’s War on American Capitalism continues..details at 10…

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RaydocX
Posted on January 28, 2013 at 10:03am
It’s the DEBT, stupid…
irregardless of hiring and durable goods orders and supply availability, the increasingly near term state of the entire economy depends upon the debt level…

when our interest eclipses the taxes collected (which by some counts has already happened) the Fed enters a death spiral… you cannot dig out of a hole if it is getting deeper faster than you can shovel in new earth. Hyperinflation results, and a la Germany you will have employees demanding their pay at lunch to be able to afford bread and spam for dinner… groceries will require wheelbarrows full of money,

oh, and did you see that the credit card companies ‘reached an agreement’ so that retailers can pass their up to 4% surcharges on to the customer? on top of the 18 and 21% interest they are already collecting?

to be sure, the banks are making hay while the sun shines… these ‘too big to fail’ businesses took our tax dollars to correct their mistakes, and now are screwing the consumer (again)… it’s almost enough to make one want to turn the Occupy anarchists loose on the bankers…

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Tri-ox
Posted on January 28, 2013 at 9:45am
‘obama EPA kills power plant, 3,900 jobs in Texas’

http://washingtonexaminer.com/obama-epa-kills-power-plant-3900-jobs-in-texas/article/2519575#.UQaOqaXDU6b

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SamIamTwo
Posted on January 28, 2013 at 9:41am
Since the CPI for inflation is calculated during the months of july, aug and sep…oil will go up and fall during those months. It is heavily weighted in the formula for a purpose. Deflation was a lie for two years and created by bls.gov. Anyone who knows anything knows how much they can push people without them getting all pissy. 4 dollar gas was the pissy point in 2008, so they know they can nudge it…bls.gov will go to the chained cpi…they have been calculating it for years but not using it…and they did change the look back comparison from two years to one year to avoid a higher inflation rate for 2013.

The market is fake…the printing presses are at full steam and the interest rates are way too low to sustain. Come on Dow 14K…let’s see what those in the know will do!!! Mooo

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