Spreadex Market Update
Asian stocks rose overnight
Asian stocks rose overnight, joining Friday’s rebound as better corporate earnings offset geopolitical tension following the downed passenger jet in Ukraine and as Israeli tanks shelled militant targets in the Gaza Strip. Monday marked the bloodiest day of a nearly two-week military offensive that showed no signs of reduction. The search for answers about flight MH17 continues, with access being limited by pro-Russian rebels who control the area. Vladimir Putin has been urged by Prime Minister David Cameron to allow full access to the crash site.
It seems the bigger driver of markets, which has been the case for the last two sessions, will be corporate earnings. The earnings season will continue throughout the day, with the likes of Halliburton and Netflix reporting later.
Gold remained little changed following the first weekly loss in seven weeks as investors considered the outlook for higher US borrowing costs against the demand for a haven following the geopolitical tension. The expectation for higher interest rates in the US has been the key driver for gold prices with expectations helping a strong dollar. Brent swung between gains and losses amid speculation the downed jet will have no impact on supplies from Russia.
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