Daily Market Update

Daily Market Update

Daily Market Update World stocks start the week on a positive note
The final week of 2014 is starting on a high with Asian and European markets in positive territory. Trading is light but oil prices are edging higher over unrest in Libya. The OPEC member has lost 800,000 barrels in a fire started during violence and ongoing supply is under threat. Asian markets have closed mostly higher with the exception of Japan where a suspected Ebola case has been reported. European markets will be keeping a close eye on the presidential vote in Greece which could lead to a snap election and the derailing of a new bailout for the struggling economy. US stock futures are trending higher along with oil and gold.
 
Today’s data
Dallas Fed Manufacturing Survey 10.30am ET
Dayco and Liberty Energy are among those reporting earnings today.
 
Air Asia stocks fall after plane disappears
The disappearance of a passenger plane in Asia has seen a sharp decline in the shares of Air Asia. More than 10 per cent was wiped off the company’s value after the jet with 162 passengers went missing on route to Singapore. The search has resumed but the aircraft is feared to have crashed into the sea.
 
US bonds set for poor year ahead
Analysts are forecasting a bad year ahead for US government bonds. Data compiled by Bloomberg suggests that bond yields will be higher in 2015 and that sentiment in the bonds market is at its lowest since the financial crisis in 2009. Read the full story.

Hackers claim to have exposed data of 13,000 gamers
Hackers who may have been involved in the cyber attack on Sony PlayStation and Microsoft Xbox networks over the weekend have apparently released data of 13,000 gamers. A host of games and an online version of controversial movie ‘The Interview’ have also been made available by hackers. Sony says the movie made $18 million in its first few days of release.
 
Subway investigates reports of food label tampering
Subway is investigating media reports in China that one of its outlets there had altered food labels to enable them to exceed use by dates. Subway’s international HQ is looking into the claims to ascertain whether they allegations are true and if so whether it is a single outlet that is involved or a wider issue.
 
Outlook for the housing market in 2015
Experts in the housing market have been giving their predictions for the coming year. The forecasts, given to CNN, include higher mortgage rates, greater supply of homes, more affordability and looser lending standards. The property market has had mixed fortunes this year with a cold start for both the weather and sales followed by months of ups and downs. The industry will be hoping for more stability and upward trends during the next 12 months although interest rate decisions will play a major part in the market.