Binary Options Trading analysis written by Bradley Welcher - BinaryOptionStrategy
Equities
Asian markets closed mixed, as the major indexes pared early losses. The Nikkei rose .2% to 8480, the Kospi rallied 1.1%, and the ASX 200 ticked up .3%. China’s markets closed lower, as the Shanghai Composite eased .2%, and the Hang Seng dropped .8%, weighed down by real estate companies.
European markets sank, as rising bond prices reinforced fears of contagion. The CAC40 tumbled 1.8%, the DAX fell 1.1%, and the FTSE slumped 1.6%. Spanish bond prices continued to drop, pushing yields on 10-year Spanish notes up to 6.975% in a government auction, with a weak bid-to cover ratio of 1.54.
The selling continued in the US, with the Dow dropping 135 points to 11771, the Nasdaq falling 2%, and the S&P 500 closing down 1.7% to 1216.
Children’s Place shares surged 15.1% on strong earnings results, and lifted its outlook. Sears dropped 4.6% after reporting a loss due to weak demand, and NetApp shares tumbled 12.3% after reporting a drop in profits.
Treasuries and Commodities
US bonds rose moderately, with 10-year notes up 10/32 to yield 1.97%, and 30-year notes up 29/32 to yield 2.98%. In Europe, German bonds sold off, with 10-year notes down .70 to yield 1.89%, and 30-year notes down 1.58 to yield 2.56%.
Commodities were hit by a steep selloff that pulled down nearly every entry on the board. Crude oil dropped 3.6% to 98.93, a day after breaking through the $100 barrier and gasoline futures tumbled 4.6%. An unexpected drop in natural gas storage sent natural gas up 3.2%, escaping the selling pressure.
Silver plunged 6.6% to 31.575, leading metals lower. Gold closed down 3.1% to 1719.60, and copper shed 3.4% to 3.367.
Silver Plunges 6.6% in a Broad Commodity Selloff
Corn dropped 4.4%, cotton fell 4%, and wheat sank 3.9% as agricultural futures joined in the slide.
Currencies
The Australian Dollar fell below the 1.000 parity level, closing down .8% to .9997, and the Yen rose .1% to settle below 77 at 76.98. The Canadian Dollar skidded .5% to 1.0289. The Euro closed up fractionally surrendering early gains, and the Pound gained .2% to 1.5754.
Economic Outlook
Thursday’s economic data was mostly positive. Weekly jobless claims dropped to their lowest level in 7-weeks at 388K, better than forecast. Building permits were higher than expected, while housing starts were in line with analyst expectations. On a weaker note, the Philly Fed manufacturing index unexpectedly dropped to 3.6 from 8.7.
Friday’s sole report will be leading indicators. Earnings are due from Heinz and Kirkland’s.
Equities
Asian markets closed mixed, as the major indexes pared early losses. The Nikkei rose .2% to 8480, the Kospi rallied 1.1%, and the ASX 200 ticked up .3%. China’s markets closed lower, as the Shanghai Composite eased .2%, and the Hang Seng dropped .8%, weighed down by real estate companies.
European markets sank, as rising bond prices reinforced fears of contagion. The CAC40 tumbled 1.8%, the DAX fell 1.1%, and the FTSE slumped 1.6%. Spanish bond prices continued to drop, pushing yields on 10-year Spanish notes up to 6.975% in a government auction, with a weak bid-to cover ratio of 1.54.
The selling continued in the US, with the Dow dropping 135 points to 11771, the Nasdaq falling 2%, and the S&P 500 closing down 1.7% to 1216.
Children’s Place shares surged 15.1% on strong earnings results, and lifted its outlook. Sears dropped 4.6% after reporting a loss due to weak demand, and NetApp shares tumbled 12.3% after reporting a drop in profits.
Treasuries and Commodities
US bonds rose moderately, with 10-year notes up 10/32 to yield 1.97%, and 30-year notes up 29/32 to yield 2.98%. In Europe, German bonds sold off, with 10-year notes down .70 to yield 1.89%, and 30-year notes down 1.58 to yield 2.56%.
Commodities were hit by a steep selloff that pulled down nearly every entry on the board. Crude oil dropped 3.6% to 98.93, a day after breaking through the $100 barrier and gasoline futures tumbled 4.6%. An unexpected drop in natural gas storage sent natural gas up 3.2%, escaping the selling pressure.
Silver plunged 6.6% to 31.575, leading metals lower. Gold closed down 3.1% to 1719.60, and copper shed 3.4% to 3.367.
Silver Plunges 6.6% in a Broad Commodity Selloff
Corn dropped 4.4%, cotton fell 4%, and wheat sank 3.9% as agricultural futures joined in the slide.
Currencies
The Australian Dollar fell below the 1.000 parity level, closing down .8% to .9997, and the Yen rose .1% to settle below 77 at 76.98. The Canadian Dollar skidded .5% to 1.0289. The Euro closed up fractionally surrendering early gains, and the Pound gained .2% to 1.5754.
Economic Outlook
Thursday’s economic data was mostly positive. Weekly jobless claims dropped to their lowest level in 7-weeks at 388K, better than forecast. Building permits were higher than expected, while housing starts were in line with analyst expectations. On a weaker note, the Philly Fed manufacturing index unexpectedly dropped to 3.6 from 8.7.
Friday’s sole report will be leading indicators. Earnings are due from Heinz and Kirkland’s.