European stocks were little changed as U.S. housing starts for May missed estimates amid concern the Federal Reserve will signal stimulus cuts at its policy meeting.

The Stoxx 600 lost less than 0.1% to settle at 293 at the close of trading. In London, the FTSE 100 gained 44 points (+0.7%) to close at 6374 while the German DAX added 14 points (+0.2) to finish trading at 8230.

U.S. stocks rose for a second session, pushing the S&P 500 to its highest level in June, as investors awaited the outcome of a Federal Reserve policy meeting for clues to the central bank’s plan for stimulus.

The S&P 500 increased by 13 points (+0.8%) to 1652, extending its two-session rally to 1.5%. The Dow Jones gained 138 points (+0.9%) to settle at 15318.

Crude oil climbed to a nine-month high as the Syrian conflict bolstered concern that the flow of supplies from the Middle East may be disrupted and on signs that economic growth is accelerating.

Crude oil for July delivery increased 67 cents to settle at $98.44 a barrel on the New York Mercantile Exchange. Gold futures fell to a three-week low on speculation about the Fed’s next move.

Gold futures for August delivery declined 1.2% to settle at $1366.90 an ounce on the Comex in New York. Today’s session will bring us the monthly CB Leading Index, at 10:00 am, followed by the Melbourne Institute Leading Index, at 10:30 am.

Morning Market Update: US Continues Run is a post from: Australian Stock Report Market Pulse Blog

European stocks rose to a one-week high, rebounding from their longest streak of weekly losses in 14 months, as investors awaited this week’s Federal Reserve meeting for signs on the pace of stimulus reduction.

The Stoxx 600 rose 0.7% to 293.25 at the close of trading, for the first back-to-back gains this month.

In London, the FTSE 100 gained 22 points (+0.4%) to finish trading at 6330 while the German DAX added 88 points (+1.1%) to close the trading session at 8216.

U.S. stocks rose, with the S&P 500 rebounding from last week’s decline, as investors weighed economic data with the prospects for stimulus cuts ahead of this week’s Fed meeting.

The S&P 500 rose by 12 points (+0.8%) to finish at 1639 after earlier gaining as much as 1.2%. The Dow Jones added 110 points (+0.7%) to close at 15180.

Manufacturers in the New York region felt more optimistic in June even as orders, sales and employment dropped, indicating the area’s factories are looking beyond the current slowdown in growth.

Crude oil slipped on speculation that the Fed may curb stimulus after the report on the optimism by the New York manufacturers was released.

July oil delivery settled at $97.77 a barrel on the New York Mercantile Exchange, little changed from the four-month high of $97.85 in the previous session.

Gold declined as investors weighed when the Fed will taper asset purchases. Bullion futures for August delivery lost 0.3% to settle at $1,383.10 an ounce on the Comex in New York.

The Reserve Bank of Australia will release its Monetary Policy Meeting Minutes today at 11:30 am.

Morning Market Update: Strong Start Ahead is a post from: Australian Stock Report Market Pulse Blog

European stocks rose, rebounding from a one-month low, as Federal Reserve Bank of Atlanta President Dennis Lockhart said the central bank is committed to its stimulus program.

The Stoxx 600 Index climbed 0.3% to 300 at the close of trading. In London, the FTSE 100 gained 34 points (+0.5%) to settle at 6559 while the German DAX added 10 points (+0.1%) to close at 8296.

U.S. stocks fell, snapping a streak of 20 straight Tuesday gains for the Dow Jones Industrial Average, as economists predicted the Federal Reserve may reduce stimulus as soon as September.

The S&P 500 fell by nine points (-0.6%) to finish at 1631, erasing an earlier gain of as much as 0.4%. The Dow slid 77 points (-0.5%) to 15178 at the close of trading in New York.

Crude oil fell on forecasts that U.S. fuel supplies grew and as equities declined. July delivery slid 14 cents to settle at $93.31 a barrel on the New York Mercantile Exchange.

Gold swung between gains and losses after rising the most in two weeks in the previous session, as investors weighed the prospect of the U.S. Federal Reserve maintaining asset purchases.

At 11:30am, the Australian Bureau of Statistics will release their quarterly GDP report.

Morning Market Update: More Weakness Ahead is a post from: Australian Stock Report Market Pulse Blog

It was a different story in the US, where a late surge on Wall Street was sparked by comments from a Fed President, who said the central bank is committed to its quantitative easing program.

The comments soothed investor nerves, which had been frayed earlier by data showing the US manufacturing sector contracting last month for the first time since December.

European stocks declined for a second session, extending a one-month low. The Stoxx 600 Index dropped 0.8% to 298.6 at the close of trading, the lowest level since May 2.

In London, the FTSE 100 shed 58 points (-0.9%) to settle at 6525 while the German DAX dropped 63 points (-0.8%) to close at 8286.

U.S. stocks rose, with the S& 500 Index erasing earlier losses, after the Federal Reserve Bank of Atlanta president said that central bank officials are committed to maintaining stimulus measures.

The S&P 500 rose by 10 points (+0.6%) to close at 1640 while the Dow added 139 points (+0.9%) to finish trading at 15254.

A report from the Institute for Supply Management showed that manufacturing unexpectedly contracted in May at the fastest pace in four years, fuelling concern that U.S economic growth could slow.

Crude oil rose as the U.S. dollar weakened the most since January against a basket of major currencies in response to the report on shrinking manufacturing.

Crude oil for July delivery gained $1.50 to settle at $93.5 a barrel on the New York Mercantile Exchange.

Gold rallied after the U.S. manufacturing report boosted speculation that the Federal Reserve will maintain the pace of its stimulus to sustain the recovery.

Gold futures for August delivery gained 1.4% to settle at $1411.9 an ounce on the Comex in New York.

The yen strengthened beyond 100 versus the greenback for the first time in almost a month as U.S. manufacturing unexpectedly contracted in May, dimming speculation that the Federal Reserve will reduce stimulus.

The Australian Bureau of Statistics will release their quarterly Current Account report at 11:30 am today. At 2:30 pm, the Reserve Bank of Australia will release both the Cash Rate and RBA Rate Statement.

Morning Market Update: Set To Open Flat is a post from: Australian Stock Report Market Pulse Blog

European stocks fell to a four-week low, paring a 12th consecutive month of gains for the Stoxx 600 Index.

In London, the FTSE 100 dropped 74 points (-1.1%) to close at 6583 while the German DAX shed 51 points (-51%) to settle at 8349.

In the U.S, better-than-forecast data on business activity and consumer confidence reinforced speculation that the Federal Reserve will pare its bond purchases.

The S&P 500 dropped 23 points (-1.4%) to settle at 1631 while the blue-chip Dow Jones plunged 209 points (-1.4%) to finish the trading session at 15116.

Crude oil fell to a one-month low as OPEC kept its output target unchanged for a third consecutive time and U.S. inventories climbed to the highest level in 82 years.

Crude oil for July delivery declined $1.64 to $91.97 a barrel on the New York Mercantile Exchange, the lowest settlement since May 1.

Gold futures slumped the most in two weeks as U.S. consumer confidence climbed in May to the highest in almost six years, stoking concern that the Federal Reserve may scale back monetary stimulus.

Gold futures for August delivery fell 1.3% to settle at $1,393 an ounce on the Comex in New York.

This morning will likely be a tough one for the local market, although there was some better-than-expected data out of China on the weekend which may provide some support.

China’s official PMI data, out on Saturday, rose to 50.8 in May from 50.6 in April, beating market expectations.

At 10:30 a.m., the Melbourne Institute will release its Inflation Gauge report while at 11:30 a.m., the Australian Bureau of Statistics will release both the Retail Sales and Company Operating Profits reports.

The Reserve Bank of Australia will release the Commodity Prices report at 4:30 p.m. today.

Morning Market Update: Rock Start Ahead is a post from: Australian Stock Report Market Pulse Blog

European stocks climbed, rebounding from a three-week low, as investors weighed data on U.S. economic growth and house sales to gauge the Federal Reserve’s view on continuing stimulus measures.

In London, the FTSE 100 added 30 points (+0.5%) to finish at 6657 while the German DAX put on 64 points (+0.8%) to close at 8400.

U.S. stocks rose, following the Dow’s biggest drop in four weeks, as weaker-than-expected data on economic growth and jobless claims boosted speculation that the Federal Reserve will maintain stimulus.

The S&P 500 advanced by six points (+0.4%) to 1654 in New York while the Dow added 22 points (+0.1%) to close at 15325.

Gold climbed to a two-week high on speculation that the Federal Reserve will maintain bond purchases to bolster the U.S. economy, boosting demand for the precious metal as a store of value. Gold futures for August delivery advanced 1.5% to settle at $1412 an ounce on the Comex in New York.

Crude oil climbed from a four-week low as worse-than-expected economic data spurred speculation that the Federal Reserve will maintain stimulus.

Oil for July delivery increased $0.50 to settle at $93.60 a barrel on the New York Mercantile Exchange.

The U.S dollar dropped to a three-week low versus the euro as the U.S. economy expanded less than previously estimated and jobless-benefit claims rose.

Today the RBA will release the latest Private Sector Credit report, at 11:30 am.

Morning Market Update: Global Markets In The Black is a post from: Australian Stock Report Market Pulse Blog

European stocks fell on concern that the U.S. Federal Reserve will reduce debt purchases as the world’s biggest economy strengthens. In London, the FTSE 100 tumbled 135 points (-2%) to settle at 6627, while the German DAX shed 144 points (-1.7%) to finish the session at 8337.

U.S. stocks fell, with the blue-chip Dow Jones retreating from a record high amid concern that the Federal Reserve could begin to taper its debt-buying program as the economy continues to improve.

The S&P 500 dropped 12 points (-0.7%) to finish at 1648 in New York while the Dow retreated 107 points (-0.7%) to close at 15303.

Gold futures advanced for the first time in three sessions as lower prices lured buyers of the physical metal. Silver also gained. Gold futures for August delivery climbed 0.9% to settle at $1391.8 an ounce on the Comex in New York.

Crude oil fell to a four-week low on concern that the Federal Reserve will cut debt purchases as the economy of the world’s biggest oil-consuming nation strengthens.

Oil for July delivery slid $1.9 to $93.10 a barrel on the New York Mercantile Exchange, the lowest settlement since May 1.

The yen strengthened against all except one of its 16 most-traded counterparts as investors sought refuge amid a drop in risk appetite that sent stocks and commodities lower.

Building Approvals and Private Capital Expenditure data will be released by the Australian Bureau of Statistics today at 11:30 am.

Morning Market Update: Where to? is a post from: Australian Stock Report Market Pulse Blog

European stocks rose, rebounding from their first weekly loss in more than a month, as carmakers and technology companies gained. The Stoxx 600 Index climbed 0.3% to 304.3 at the close of trading. The German DAX gained a solid 78 points (+0.9%) to finish at 8383.

Crude oil for July delivery dropped for a fifth session – the longest run of declines this year – to $93.70 a barrel in New York, as China signaled it may accept a slower economic growth rate.

Gold rose, extending gains after the best week in a month, as International Monetary Fund data showed that Russia and Kazakhstan expanded gold reserves for the seventh straight month in April. Gold for immediate delivery advanced to $1394.8 an ounce.

The yen strengthened for a third session against the U.S. dollar amid concern that the Bank of Japan is struggling to control a jump in government bond yields.

The currency rose 0.2% to 101.1 per dollar in New York after jumping 1.9% last week. There is no major local economic data due out during today’s session.

Morning Market Update: Quiet Session Ahead is a post from: Australian Stock Report Market Pulse Blog

In London, the FTSE 100 dropped 42 points (-0.6%) to finish the session at 6654 while the German DAX lost 47 points (-0.6%) to finish off at 8305. In the U.S, the S&P 500 lost one point (-0.1%) to finish the session at 1650 while the blue-chip Dow Jones added nine points (+0.1%) to finish at 15303.

Crude oil had its biggest weekly drop in more than a month amid signs of rising U.S. oil inventories and a global economic slowdown. Oil futures slid by as much as 1% in New York.

Gold also lost ground, with bullion shedding 0.4% to settle at US$1388 an ounce.

The yen maintained gains versus the US dollar after its biggest weekly rally in a year amid speculation the U.S. Federal Reserve will reduce stimulus that spurred declines in riskier assets that may have risen too fast.

There is no major local economic data due out during today’s session.

Morning Market Update: Calmer Start Expected is a post from: Australian Stock Report Market Pulse Blog

Overall, European stocks were little changed near a five-year high after Federal Reserve Chairman Ben S. Bernanke signalled the central bank will maintain stimulus measures to support the U.S. economic recovery.

In London, the FTSE 100 added 36 points (+0.5%) to close at 6840 while the German DAX gained 59 points (+0.7%) to finish at 8531. U.S. stocks fell, with benchmark indices retreating from record highs, as concern grew that the Federal Reserve will scale back its stimulus efforts if the labor market continues to improve.

The S&P 500 dropped 14 points (-0.8%) to close at 1655 in New York, after rallying as much as 1.1% earlier. The blue chip Dow Jones lost 80 points (-0.5%) close at 15307.

Gold futures closed lower following wide prices swings as Federal Reserve Chairman Ben S. Bernanke signaled that U.S. monetary stimulus may be scaled back. Bullion for June delivery dropped 0.7% to close at US$1367 an ounce on the Comex in New York.

Crude Oil fell the most in three weeks as a government report showed U.S. gasoline supplies unexpectedly advanced 3 million barrels and crude stockpiles declined less than expected.

The US dollar rose against most major peers after Federal Reserve Chairman Ben S. Bernanke said the central bank may taper monthly bond purchases at its next few meetings if it’s confident of sustained gains in the economy.

The pound fell to a one-month low against the euro after a government report showed U.K. retail sales unexpectedly declined last month. The Melbourne Institute Inflation Expectations report will be released today at 11:00 am.

Morning Market Update: Europe Solid US Weaker is a post from: Australian Stock Report Market Pulse Blog