Daily Market Update

Daily Market Update

Daily Market Update Positivity returns on Fed minutes, US jobs and oil price
Yesterday’s positive US jobs data, the Fed’s reassurance of patience on raising interest rates and a slight recovery for oil prices have given a boost to optimism in world markets so far Thursday. Asian markets have closed with gains with the exception of Shanghai. In Europe news that inflation is still falling has increased expectations of the central bank increasing stimulus and all the major markets are gaining this morning. US stock futures are trending higher; oil is higher; gold is slightly lower.
 
Today’s data
Challenger Job Cut report at 7.00am ET
Jobless Claims at 8.30am ET
Bloomberg Consumer Confidence at 9.45am ET
EIA Natural Gas Report at 10.30am ET
Consumer Credit at 3.00pm ET
Emmis Communications and Family Dollar are among those reporting earnings today.
 
Chicago Fed president says there should be no interest rate rise this year
The president of the Fed Bank of Chicago believes that interest rates should not be increased until 2016. Speaking yesterday Charles Evans said he believes that the inflation target might not be reached until 2018 and that weakness in other parts of the world should give rise to a delay in the rate rise.
 
More than 60 per cent of Americans have inadequate emergency savings

Many Americans have inadequate savings to cover even relatively minor emergencies according to a new study. The poll by Bankrate found that unexpected expenses such as car repairs or medical costs would be beyond the immediate reach of 62 per cent of respondents. Their solution would be to try to cut back on expenses to free up the extra cash, borrowing from family and friends or using a credit card.
 
Healthcare costs Floridians and Texans more

Those in Florida and Texas pay a higher percentage of their income towards health insurance than elsewhere. A report published by New York think tank the Commonwealth Fund shows that Floridians spend 12.4 per cent of their income on health policies and deductibles with Texas just behind on 12.3 per cent. In DC, Hawaii and North Dakota workers pay around 6 to 7 per cent of median income.
 
Boston study could bring new defense against superbugs
Research by Northeastern University in Boston and a small firm called NovoBiotic Pharmaceuticals could have discovered a defense against the growing risk of superbugs. The bugs that are resistant to traditional antibiotics are one of the biggest challenges for the medical profession but the new method used by the Boston scientists has found a way that appears to tackle the issue.