Binary Options Trading analysis written by Bradley Welcher - BinaryOptionStrategy
Equities
Asian markets fell for a second day. InJapan, the Nikkei fell 1.3%, ahead ofToyota’s earnings. After the close,Toyotareported a steep 32% drop in profits and retracted its annual forecasts due to flooding inThailand. Olympusfell 29%, the daily limit, after admitting it had defrauded investors by covering up losses.
The Kospi dropped .8%, weighed down by Hynix Semiconductor’s 4.6% loss. Australia’s ASX 200 managed to buck the trend, gaining .5%. China’s Shanghai Composite eased .2% and the Hang Seng ended flat, surrendering early gains.
In Europe, the major indexes rallied. The CAC40 advanced 1.3%, the FTSE climbed 1% and the DAX rose .6%. InItaly, the government narrowly approved a budget package, but by an extremely narrow margin. Later in the day, Italian Prime Minister Berlusconi announced he will resign, a highly anticipated move.
US markets continued to climb, in a broad rally which lifted all major S&P sectors. The Dow closed up 102 points to 12170, while the Nasdaq and S&P 500 both rallied 1.2%.
Priceline shares jumped 8.6% after reporting strong profits. Amylin Pharmaceuticals dropped 11% after announcing an end to a partnership with Eli Lilly.
Treasuries and Commodities
Bond prices eased, reversing Monday’s gains. 10-year notes closed down 11/32 to yield 2.08%, and 30-year notes fell 24/32 to yield 3.13%.
A $32 billion auction in 3-year notes had a high yield of .379% and a bid-to-cover ratio of 3.41. On Wednesday, the Treasury will auction $24 billion in 10-year notes.
Commodities settled mostly higher. Crude oil gained 1.5% to 96.96, its highest close in 3-months. Natural gas closed up 1.7% at 3.759, while gasoline slipped .4% to 2.7179.
Crude Climbs to its Highest Level Since August
Metals traded mixed, with gold down 5.90 to 1785.20, while silver rose .4% and copper gained .6%.
Agriculturals were mixed as well. Wheat jumped 2.9% and sugar climbed 2.3%, while coffee fell 1.5%.
Currencies
The Dollar traded lower against the major currencies. The Euro and Yen both rose .5%, and the Swiss Franc gained .6% to 1.1171. The Pound edged up .2% to 1.6089, and the Canadian Dollar rose .4% to 1.0093.
Economic Outlook
The NFIB small business optimism index rose to 40.6 from 40.3, but was below expectations.
Wednesday’s economic reports will include wholesale trade, weekly mortgage applications, and weekly oil inventories.
Earnings are due from GM, HSBC, Macy’s, Cisco, and Anheuser Busch.
Equities
Asian markets fell for a second day. InJapan, the Nikkei fell 1.3%, ahead ofToyota’s earnings. After the close,Toyotareported a steep 32% drop in profits and retracted its annual forecasts due to flooding inThailand. Olympusfell 29%, the daily limit, after admitting it had defrauded investors by covering up losses.
The Kospi dropped .8%, weighed down by Hynix Semiconductor’s 4.6% loss. Australia’s ASX 200 managed to buck the trend, gaining .5%. China’s Shanghai Composite eased .2% and the Hang Seng ended flat, surrendering early gains.
In Europe, the major indexes rallied. The CAC40 advanced 1.3%, the FTSE climbed 1% and the DAX rose .6%. InItaly, the government narrowly approved a budget package, but by an extremely narrow margin. Later in the day, Italian Prime Minister Berlusconi announced he will resign, a highly anticipated move.
US markets continued to climb, in a broad rally which lifted all major S&P sectors. The Dow closed up 102 points to 12170, while the Nasdaq and S&P 500 both rallied 1.2%.
Priceline shares jumped 8.6% after reporting strong profits. Amylin Pharmaceuticals dropped 11% after announcing an end to a partnership with Eli Lilly.
Treasuries and Commodities
Bond prices eased, reversing Monday’s gains. 10-year notes closed down 11/32 to yield 2.08%, and 30-year notes fell 24/32 to yield 3.13%.
A $32 billion auction in 3-year notes had a high yield of .379% and a bid-to-cover ratio of 3.41. On Wednesday, the Treasury will auction $24 billion in 10-year notes.
Commodities settled mostly higher. Crude oil gained 1.5% to 96.96, its highest close in 3-months. Natural gas closed up 1.7% at 3.759, while gasoline slipped .4% to 2.7179.
Crude Climbs to its Highest Level Since August
Metals traded mixed, with gold down 5.90 to 1785.20, while silver rose .4% and copper gained .6%.
Agriculturals were mixed as well. Wheat jumped 2.9% and sugar climbed 2.3%, while coffee fell 1.5%.
Currencies
The Dollar traded lower against the major currencies. The Euro and Yen both rose .5%, and the Swiss Franc gained .6% to 1.1171. The Pound edged up .2% to 1.6089, and the Canadian Dollar rose .4% to 1.0093.
Economic Outlook
The NFIB small business optimism index rose to 40.6 from 40.3, but was below expectations.
Wednesday’s economic reports will include wholesale trade, weekly mortgage applications, and weekly oil inventories.
Earnings are due from GM, HSBC, Macy’s, Cisco, and Anheuser Busch.