Beijing time on August 13 morning news, U.S. stocks closed higher on Friday. Although the U.S. consumer confidence fell to 31-year low, but rising and retail sales rose sharply in Europe Friday the news of Wall Street investors happy, provides support for the market.
EST at 16:00 on August 12th (Beijing time at 4:00 on August 13), the Dow Jones industrial average rose 125.71 points to close at 11269.02 points, or 1.13%; the Nasdaq composite index rose 15.30 points, to close at 2507.98 points, or 0.61%; Standard & Poor's 500 index rose 6.17 points to close at 1178.81 points, or 0.53%.
Barclays Plc in New York, Barry, head of Wall Street Strategies - resistant to common (Barry Knapp), "said retail sales data a good first step is to stabilize the U.S. macroeconomic outlook. Uncertainty eliminated, will be able to stabilize the financial markets now price very low, is a good buying opportunity. "
European stock markets ended sharply higher on Friday. Quantitative Analysis Service analyst Ken senior agency - Doyle (Ken Tower), "said U.S. stocks rose on Friday owe European stock markets closed mostly higher for U.S. stock investors feel relaxed."
Doyle said that "U.S. stocks rose sharply yesterday, but if not today, with European stock markets rise, then U.S. stocks rose yesterday, will come to naught." Doyle is expected to market turbulence will gradually fade in the next 4-6 weeks will be the stock market bottomed process.
U.S. Department of Commerce in pre-announced in July retail sales growth of 0.5%. According to the Bloomberg survey of economists' average forecast of 0.6% qoq are. June retail sales by 0.1% qoq.
Investment institutions BTIG LLC chief global strategist Dan - Green House (Dan Greenhaus) said, "because in July the first month of the third quarter, so even though retail sales in July rose only slightly, but we are still a feeling of pleasure. "
Green House said, "Despite many obstacles and negative factors, but the U.S. economy will not slip back into recession. The situation is still very healthy business expenses, and at least the beginning of the third quarter, relatively strong consumer spending, which are let How many feel a bit excited. "
University of Michigan and Reuters announced that U.S. consumer confidence index in August fell to 54.9 points, hit 31-year low. According to the Bloomberg survey of economists' average forecast of 63.0 points. July consumer confidence index of the final value of 63.7 points.
Institutional investors Miller Tabak equity strategist Peter - Boockvar (Peter Boockvar), "said August consumer confidence index has apparently crazy this week and last week's market characteristics."
Other economic data side, the U.S. Commerce Department said business inventories in June, growth of 0.3%. According to the Bloomberg survey of economists' average forecast of 0.6% qoq. May business inventories 1.0% qoq.
France announced second-quarter gross domestic product (GDP) chain or zero, in the first quarter GDP growth was significantly reduced to 0.9%. Prior to the market average, expected second-quarter GDP growth will be 0.3%.
Morgan Keegan, director of institutional equity strategist Michael - Gibbs (Michael Gibbs), said stock market volatility in recent days, the reason 80% of the market should be attributed to concerns about the situation in Europe emotions. He said, "Some investors in Europe the situation was extremely confused."
Friday, the VIX measure of market volatility conditions index, the so-called "fear index" decreased by 9%. In the first three trading days this week, the index rose more than 20%.
Gibbs said the next week, German Chancellor Angela Merkel and French President Nicolas Sarkozy will meet market hopes that the meeting may be introduced in Europe to solve a debt problem.
U.S. stocks ended sharply higher on Thursday, the Dow in four consecutive trading days Change rate of more than 400 points, the first time in history. Thursday the Dow Jones industrial average rose 423.37 points to close at 11143.31 points, or 3.95%. But this week, the Dow is still down 2.6%.
Thursday night, France, Italy and Spain and Belgium have announced plans to implement or extend the ban on short selling ban in recent weeks in response to turmoil in financial markets and the situation.
But many analysts believe that the practice of short selling was banned in Europe have little impact on the market.
The earnings side, the graphics chip maker Nvidia (NVDA) surged 13 percent, the company announced earnings late on Thursday than expected, and raised its earnings outlook.
New York Mercantile Exchange, December gold (1749.10-2.40-0.14%) futures prices fell 0.5 percent, to close at $ 1,742.60 an ounce. Crude oil (85.30-0.42-0.49%) futures prices fell 0.4 percent, to close at $ 85.38 a barrel.
Michigan's August consumer confidence hit 30-year low
Thomson Reuters and the University of Michigan consumer confidence in August released report, the initial index in August hit a low of 30 years, mainly with consumers worried about the economic recovery stalled and they are disappointed the government policies.
University of Michigan's Consumer Research Center pointed out that the August consumer confidence index initial value of 54.9, the lowest since May 1980, and significantly lower than July's 63.7. 54.9 lower than the survey by Thomson Reuters Economics an average of the expected 63.0.
High unemployment, stagnant wage growth and increased U.S. government debt ceiling protracted dispute disappointed investors. Should be noted that this survey of consumers or in the S & P lowered the United States before the sovereign rating.
U.S. retail sales increased 0.5% in July-than-expected core values
U.S. government issued in July retail sales report, the July figure of 0.7% sequential increase, consumers for gasoline, cars, clothing and consumer electronic products have significant growth in core retail sales exceeded market expectations. Overall, the report of the market is favorable.
U.S. Commerce Department said a seasonally adjusted retail sales 7 ring was an increase of 0.5%, excluding volatile auto sales, core retail sales in July by 0.5% qoq. According to Thomson Reuters survey of economists on average expected overall retail sales in July rose 0.7%, core retail sales increased 0.3%. Monthly car sales between the volatile, sometimes affect people's basic trend of the retail assessment.
Another good news is that June and May's retail sales are up, retail sales chain in June to 0.3% on the increase, more than previously reported 0.1%, while retail sales in May fell 0.1% from the correction ring for the chain flat. Over the past three months, the U.S. retail sales grew 8.2% over the previous year.
Four European countries to ban stock short selling
And the European Securities Market Authority said in a statement, France, Spain, Italy and Belgium four countries will ban stock short selling. Prior to Greece, South Korea and Turkey have announced a ban on short selling.
And the European Securities Market Authority said in a statement: "Although short selling is an effective investment strategy, but once together and dissemination of market rumors it was clearly abused."
And the European Securities Market Authority issued a statement, France and Spain, announced in the next 15 days on the market in the country banned short selling of financial stocks. Belgium announced it would ban short selling four financial stocks, temporarily ban the period determined. Italy has not announced specific measures to prohibit short selling.
German Banking Association oppose a permanent ban on short selling
German Federal Banking Association BdB (Bundesverband deutscher Banken) on Friday the stock market short selling ban permanent opposition.
BdB manager Michael - Como (Michael Kemmer) today issued a statement saying: "The short selling ban EU countries constitute the various rules 'hodgepodge'." He also added that short-selling ban "can only be accepted temporarily, with to stabilize the market in exceptional circumstances, can not be a permanent solution. "
New York gold futures closed down 0.5 percent at $ 1,742.60
New York gold futures fell on Friday, hit a record high earlier this week following the second day after the fall.
Day, the New York Mercantile Exchange (NYMEX) under the Commodity Exchange (COMEX) 12 Gold futures for February delivery fell $ 8.90, to close at $ 1,742.60 an ounce, down 0.5%. But in this week's trading in New York gold futures rose 5.5%.
New York crude oil futures ended down 0.4 percent to $ 85.38 a barrel
New York crude oil futures prices ended lower on Friday, the majority of intraday trading session are rising.
Day, the New York Mercantile Exchange (NYMEX) 9, light sweet crude for January delivery fell 34 cents to close at $ 85.38 a barrel, down 0.4%. In this week's trading in New York crude oil futures prices fell 1%.
European stock markets rose for a second day
In several countries announced the introduction of short-selling ban, the European stock markets closed higher on Friday for the second consecutive day. Pan-European Dow Jones Stoxx 600 index rose 3 percent, to close at 347.49 points. Abnormal oscillation Stoxx 600 index this week, intense, full-week total of 0.6%.
France's CAC 40 index rose 4 percent, to close at 3213.88 points. UK FTSE 100 index rose 3 percent, to close at 5320.03 points. The German DAX 30 index rose 3 percent, to close at 5997.74 points. Portugal PSI 20 index rose 3 percent, to close at 6202.46 points. (Ching)