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Daily Review 08.09.2016

Wall Street stocks mixed after release of Fed’s Beige Book

The US stocks tracked unlike paths on Wednesday, hovering around the flat line at the close, as investors dug deep on Federal Reserve’s Beige Book released yesterday.

Report of anecdotal information from Fed’s beige Book showed that the US economy has improved in July and August at a modest pace and signs on moderate wage growth in the coming months have seen by the bank.

The Dow Jones industrial average closed 12 points lower, or 0.06% at 18 526.14 while the S&P 500 fell 0.33 points, or 0.02% at 2 186.15.

NASDAQ Composite stretched its winning streak to four trading session and logged to a new all-time intra-day high close of 5 283.93.

The mix were prompted by a huge drop on Sprouts, Whole Foods and Krogers shares as they closed won 13.7%, 5.3% and 4.1% respectively.

Across Europe, stocks finished impressively higher despite a weaker German data on industrial production as European STOXX 600 the UK’s FTSE 100 both closed 0.2% up while the French CAC 40 and German DAX both surged by nearly 0.6%.

Oil rolls to weekly high as hopes in output freeze broaden

Oil prices finished in green on Wednesday session as market increased its hopes on production freeze after world’s top producers agreed to support the move.

The commodity settled to its weekly high since August 30 as it rose 1% higher ahead of latest updates on US petroleum supplies.

West Texas Intermediate (WTI) erased it previous four-session decline and went up 67 cents, or 1.5%, to finish at $45.50 per barrel.

International benchmark Brent crude futures added 68 cents , or 1.44%, to close  at $47.94 per barrel.

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