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Daily Market Review – 28 August 2015

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Daily Market Review – 28 August 2015

Aug 28 2015, 11.00am GMT

STOCK.com

 

Goldman Sachs Upgrades Google

 

STOCK.com   Stocks

When it comes to streaming wars, it seems like the battle is now going global. In the next month, we are going to see Amazon.com Inc. (AMZN, +2.71%) and Netflix Inc. (NFLX, +5.43%) go head-to-head in the Asian market. On Wednesday, Amazon announced that in September, they will be bringing their Prime Instant Video service to Japan. Meanwhile, Netflix seems to have beaten the tech giant by announcing their plans months ago regarding the roll out of its own streaming service in Japan on the 2nd of September. It now looks like that it will all boil down to the better offer. Amazon is offering the Japanese market a wide range of anima, drama and variety shows which are popular both in Japan and the U.S. In addition, original shows such as ‘Transparent’ will also be available. The Amazon Prime subscriptions are already available in Japan and it seems that Amazon is one step ahead when it comes to pricing. The current Amazon Prime costs about $32 (¥3900) a year or approximately $2.71 per month. Meanwhile, Netflix’s cost is almost double at $5.40 per month yet they will offer multiple pricing tiers. Interestingly, Hulu, which is an American online company and streaming service, launched in the country in 2011 but the company then sold off its Japanese streaming business to the Nippon TV television network in 2014. Based on this, it seems for now we will have to wait and see which of the streaming giants are going to be more successful in Japan. Who’s your money on – Netflix or Amazon?

STOCK.com   Indices

In U.S. trading on Thursday, U.S. stocks pared gains. This came after the main indices surged early in the trading session, slipping back later into negative territory for the week. As a result of a better than expected upward revision to the GDP (gross domestic product) data out of the U.S., positive investor sentiment was boosted. Data showed that the U.S. economy grew at a faster pace in the second quarter, up 3.7%. In addition, data on the jobless claims also pointed to continued strength in the labor market. At the close of trading, the Dow Jones Industrial Average (DJIA) rose 0.4%, or 66 points, to 16,351. Earlier in the trading session, the blue chip index dropped as many as 381 points and 20 out of 30 members of the index traded higher. Also on the upside was the S&P 500 index (SPX) which increased 0.6%, or 11 points, to 1,952. Earlier in the trading session, the SPX posted a 49-point gain and all 10 of the index’s main sectors traded higher. Following the upward trend was the Nasdaq Composite index (COMP) which advanced 0.8%, or 34 points, to 4,732. The tech heavy index was up by as many as 121 points earlier in the day. As a result of the declines, for the week, the Dow is down 0.5 percent, the SPX is 0.9% lower while the Nasdaq is up 0.7%.

STOCK.com   Currencies.

In U.S. trading on Thursday, U.S. stocks pared gains. This came after the main indices surged early in the trading session, slipping back later into negative territory for the week. As a result of a better than expected upward revision to the GDP (gross domestic product) data out of the U.S., positive investor sentiment was boosted. Data showed that the U.S. economy grew at a faster pace in the second quarter, up 3.7%. In addition, data on the jobless claims also pointed to continued strength in the labor market. At the close of trading, the Dow Jones Industrial Average (DJIA) rose 0.4%, or 66 points, to 16,351. Earlier in the trading session, the blue chip index dropped as many as 381 points and 20 out of 30 members of the index traded higher. Also on the upside was the S&P 500 index (SPX) which increased 0.6%, or 11 points, to 1,952. Earlier in the trading session, the SPX posted a 49-point gain and all 10 of the index’s main sectors traded higher. Following the upward trend was the Nasdaq Composite index (COMP) which advanced 0.8%, or 34 points, to 4,732. The tech heavy index was up by as many as 121 points earlier in the day. As a result of the declines, for the week, the Dow is down 0.5 percent, the SPX is 0.9% lower while the Nasdaq is up 0.7%.

STOCK.com   Commodities

In early Asian trading on Friday, crude oil prices rose. This came in response to positive investor sentiment regarding Japan's economy as well as a stabilization in the stock market in China. WTI crude oil for delivery in October traded at $43.37 a barrel, up 1.89%. According to report data, in Japan, the national CPI was flat in July while the unemployment rate declined from 3.4% to 3.3%. Japan also reported preliminary retail sales data for July which showed a gain of 1.6%. Also, Brent crude oil for delivery in October traded at $44.80 a barrel, up 3.84%, or $1.66, on the ICE Futures Exchange in London.

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