US STOCKS-Wall St steadies on heels of Swiss move, data

viernes 16 de enero de 2015 10:56 GYT
 

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By Chuck Mikolajczak

NEW YORK, Jan 16 (Reuters) - U.S. stocks advanced modestly on Friday, following five straight days of losses for major indexes, as market participants continued to assess the ramifications for U.S. and other markets of Switzerland's move to scrap its currency cap.

Investors attempted to interpret the impact of the move by the Swiss National Bank. The decision might be seen as foreshadowing a large stimulus move by the European Central Bank next week that would further weaken the euro, or as a safeguard against a possible Greek exit from the euro zone that could potentially destabilize the bloc.

"Most central banks have been really clear about how to telegraph their messages, particularly here in the U.S., so having a bank intentionally surprise caught everybody a little flat footed," said Dan Curtin, global investment specialist at JP Morgan Private Bank in Boston.

Shares of retail foreign exchange broker FXCM Inc, were halted, after it said it may be in breach of some regulatory capital requirements following client losses related to the Swiss move to ditch the cap on the Swiss franc's value.

Shares of Interactive Brokers, whose clients also are exposed to currency trades, were down 5.8 percent. The company said several customers suffered losses in excess of their deposit due to the sudden move in the Swiss franc.   Continuación...