Stock market forecast july 13 2011

Stock market forecast july 13 2011, stock market prediction july 13 2011, commodity market prediction 12 july 2011 : The fears of the European debt crisis spreading to Italy and Spain after Moody’s Investor Services downgraded Ireland’s credit rating to junk territory had investors and policymakers worried. The ratings agency said that Ireland will need more funds before it can return to capital markets. Earlier US indices were in the green after minutes of the 21st-22nd June Federal Open Markets Committee meeting suggested that there was still space for more stimulus to boost the economy.

In economic news, US trade deficit surged in May to its highest level in more than two-and-half years. Also, farm-machinery stocks slid after the US Department of Agriculture trimmed its consumption outlook for corn this year, while raising corn-production forecasts.

US share markets closed lower on Tuesday as the European debt crisis weighed on sentiment. However equities did bounce briefly after the release of the Fed minutes, which hinted at the possibility of more stimulus. The Dow Jones fell by 59pts or 0.5pct, the S&P 500 lost 0.4pct and the Nasdaq fell 20pts or 0.7pct.

US long-dated treasuries rallied on Tuesday (yields lower) as ongoing concerns about sovereign debt issues in the euro zone prompted safe-haven buying. US 2yr yields were flat at 0.36pct and US 10yr yields fell by 4pts to 2.88pct.

The Euro rallied off four-month lows against the US dollar following the release of the FOMC minutes - which left the door open for further stimulus. The Euro hit early lows near US$1.3840 before rallying to US$1.4040, ending US trade at US$1.3970. The Aussie dollar touched early lows near US105.25c before rallying to highs near US106.40c and ending US trade near US$105.95. And the Japanese yen strengthened from 80.15 yen per US dollar to JPY79.20, and ended US trade near JPY79.40.

US crude oil prices rallied on Tuesday as the weaker US dollar supported oil demand. Nymex crude oil rose by US$2.28 to US$97.43 a barrel and London Brent crude rose by US51c to US$117.75 a barrel.

Base metal prices rallied after two prior sessions of losses on the London Metal Exchange, though volumes were light. Metals gained between 0.6-2.2pct. And the gold price rose with Comex gold up by US$18.20 an ounce or 1.2pct to US$1,567.90.

Asia stock market opening july 13 2011
Markets in Asia were up in early trade on Wednesday as data that just came in suggested that the Chinese GDP stood at 9.5% in the second quarter from 9.7% in the year-ago period. However, European worries kept investors on their guard.

The Shanghai Composite gained 0.69%, the Hang Seng surged 0.92%, the Jakarta Composite climbed 0.59%, the Nikkei 225 added 0.01%, the Straits Times gained 0.27%, the Seoul Composite was 0.46% higher and the Taiwan Weighted rose 0.44%. On the other hand, the KLSE Composite slipped marginally into the red down 0.01% in early trade.
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