Weekly Financial News - June 21, 2014

US stocks are up for a sixth straight session taking the benchmark Standard & Poor's 500 and Dow Jones industrial indices to record highs. This week the Dow was up about 1 percent, and the S&P 500 gained 1.4 percent. The Dow rose 25.62 points, or 0.15 percent, to end at 16,947.08. The S&P 500 gained 3.39 points, or 0.17 percent, to finish at 1,962.87. The Nasdaq Composite added 8.71 points, or 0.20 percent, to close at 4,368.04.

Top US money managers told Reuters that Federal Reserve Chair Janet Yellen had effectively cleared the way for more Wall Street gains by suggesting that interest rates will remain low through 2016, 

Oracle Corporation shares tumbled 5.10 percent to 40.34 dollars apiece after reporting diluted earnings per share of 0.80 dollars for the fourth quarter in fiscal 2014 on revenues of 11.3 billion dollars. 

The Nikkei 225 average snapped a three-day winning streak Friday, pressured by profit-taking amid a sense of overheating after the recent surge. The key market gauge lost 11.74 points to end at 15,349.42. On Thursday, the Nikkei shot up 245.36 points. The Topix lost 0.12 point to close at 1,268.92 after rising 19.89 points Thursday. Asian stocks were caught in a tug of war between buying on dips and selling to cash in gains after the Nikkei jumped some 430 points in the three sessions through Thursday

To read more follow us at: www.oracleoption.com

Weekly Financial News - June 16, 2014

Oil prices hit a nine-month high on concerns about the growing crisis in Iraq but Hong Kong and Shanghai reversed losses following upbeat Chinese data.

New York's three main indexes took a hit after hitting new highs over news that jihadists were pushing towards Baghdad after taking a town to the north. The Dow fell 0.65 per cent and the S&P 500 lost 0.71 per cent - both having hit record highs earlier in the week - and the Nasdaq sank 0.79 per cent. 

European stock markets have closed in the red, with airlines hit hard by higher oil prices caused by unrest in Iraq.

The US dollar and Euro rose against the yen on Friday. The pound surged to a five-year peak against the euro, after Carney warned the BoE could hike its main interest rate from a record-low 0.50 per cent sooner than markets expect.

The euro slid to 79.77 pence. The British pound advanced to $1.6960 from $1.6923 on Thursday. Against the dollar, the euro eased to $1.3529 from $1.3553 late in New York on Thursday.