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Global Market Wrap-Up - January 24, 2013

Thursday, January 24, 2013
Mark Hanna
U.S. stocks finished mixed Thursday as the S&P 500 had a fractional gain of 0.01 while the NASDAQ fell 0.7% largely due to the impact of Apple's 12% loss post earnings. The S&P 500 briefly broke the 1500 level intraday before selling off. Preliminary purchasing managers data out of China (at a two year high) and weekly jobless claims at a 5 year low were the primary offsets to the damage from Apple.
  • The number of U.S. workers filing new applications for jobless benefits fell to 330,000 in the latest week, the lowest level in five years.
  • Markit's preliminary reading on U.S. manufacturing rose to 56.1 in January from 54.0 the previous month
Oil rose 0.8% to $95.95 a barrel. Gold fell 1% to $1669.90 an ounce while silver dropped 2.2% $31.72.

British shares gained 1.1%, German stocks 0.5%, and French stocks 0.7%.
  • The Markit Flash Composite Eurozone Purchasing Managers' Index, (PMI), which surveys around 5,000 firms and is seen as a leading indicator of economic activity, jumped to 48.2 from December's 47.2, besting expectations for a rise to 47.5.
China's Shanghai Composite fell 0.8% while Japan's Nikkei Stock Average rose 1.3% as the yen continued its free fall.
  • China's HSBC flash purchasing managers' index (PMI) rose to 51.9 in January to a two-year high. A score above 50 indicates an expansion in manufacturing activity.