The US government's bipartisan budget deal easily passed a vote
in the US House of Representatives on Thursday, upping the
possibility that the US Federal Reserve will begin tapering its $85
billion per month stimulus package.
The budget deal will be sent to the Senate, where it is expected
to pass another vote next week. With a new budget deal in place,
the Federal reserve will be relieved of fiscal concerns which have
been keeping the bank from tapering.
The agreement would keep the US free from budget wars for the
next two years.
UN investigators confirmed that chemical weapons were probably used
in five out of seven of the investigated attacks in Syria. The
final inquiry report, published on Thursday, said that sarin was
used in at least four incidents, once on a large scale. The report
also showed that victims ranged from government soldiers to
civilians, but it was difficult to establish a link between victims
and alleged attack sites. As Ukrainian protestors rebuilt
barricades torn down by police in the country's Independence
Square, the nation's first deputy Prime Minister Serhiy Arbuzof
traveled to Brussels to discuss signing a trade agreement with EU
leaders. The EU has agreed to provide more aid to Ukraine if the
nation agrees to sign, to which Arbuzof said he was planning sign
soon, although he did not provide a date. French auto maker PSA
Peugeot Citroen was under pressure this week after General Motors
announced that it planned to sell its entire 7 percent stake in the
company. General Motors decision has made it crucial that Peugeot
secure an investment from a Chinese partner. The company has been
negotiating a potential equity investment with Dongfeng Motor Co.,
but no deal has been made yet. Spain's Catalonia region has set a
date for a succession vote against the wishes of Prime Minister
Mariano Rajoy. Catalan leader Artur Mas announced on Thursday that
a question about Catalonia's independence would be included on the
region's November 2014 ballot.
Asian markets were mixed, the Japanese NIKKEI gained 0.40
percent and Australia's ASX 200 was up 0.71 percent. However the
Shanghai composite lost 0.31 percent and the South Korean KOSPI
lost 0.26 percent.
European markets were moderately higher with the exception of
the UK's FTSE, which lost 0.11 percent. The eurozone's STOXX 600
gained 0.04 percent, the German DAX was up 0.11 percent and the
Spanish IBEX rose 0.25 percent.
Energy futures were quiet, Brent futures gained 0.03 percent and
WTI futures lost 0.07 percent. Gold lost 0.08 percent and silver
was down 0.63 percent. Industrial metals were mostly lower with
copper down 0.20 percent and aluminum down 1.43 percent.
Currency markets were quiet to finish the week, the euro gained
0.07 percent against the dollar and the pound lost 0.04 percent
against the American currency. The dollar gained 0.21 percent
against the yen and lost 0.08 percent against the Australian
Notable earnings released on Thursday included:
lululemon athletica in. (NASDAQ:
) reported third quarter EPS of $0.45 on revenue of $379.90
million, compared to last year's EPS of $0.39 on revenue of $316.54
million. Adobe Systems Incorporated (NASDAQ:
) reported third quarter EPS of $0.32 on revenue of $1.04 billion,
compared to last year's EPS of $0.61 on revenue of $1.15 billion.
CIENA Corporation (NASDAQ:
) reported fourth quarter EPS of $0.16 on revenue of $583.40
million, compared to last year's loss of $0.07 on revenue of
Stocks moving in the Premarket included:
Exxon Mobile Corp (NYSE:
) gained 0.66 percent in premarket trade after rising 1.17 percent
on Thursday General Electric (NYSE:
) lost 0.08 percent in premarket trade after gaining 0.34 percent
over the past week
No notable earnings expected on Friday
Notable economic releases on Friday include US PPI, eurozone
employment change data, Swiss PPI, and Spanish CPI
For a recap of Thursday's market action, click .
Tune into Benzinga's pre-market info show with Dennis Dick and
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