Binary Options Trading analysis written by Bradley Welcher - BinaryOptionStrategy
Equities
Another round of selling hit Asian markets on mounting concerns Greece will default on its debt obligations. Korea’s Kospi was hardest-hit, dropping as much as 6.3% before partially recovering to close down 3.6%. Oil refiners fell more than 10%, as a drop in Korea’s currency, the won, raised costs and cut margins. In Japan, the Nikkei fell 1.1%, and Australia’s ASX 200 eased just .6%. Hong Kong’s Hang Seng sank another 3.4% to 16250, and is down nearly 10% over the last 3 days. China’s Shanghai Composite remained closed for a public holiday.
European markets closed down more than 2.5%, with banks dropping more than 4%. The FTSE fell 2.6%, the DAX sank 3%, and the CAC40 shed 2.6%. News that Dexia, a regional European bank, may need a bailout due to its Greek debt holdings contributed to the losses. Dexia shares fell 22% to 1.008.
A massive late day spike pulled US markets out of deeply negative territory, triggered by a report that suggested European ministers will do more to tackle the growing debt problem. The Dow had dropped more than 250 points, but closed with a gain of 153 points to 10809. The S&P 500 rallied 2.3%, and the Nasdaq soared 3%.
Dow Swings more than 400 Points in Volatile Session
AMR rebounded from yesterday’s plunged, rallying 21% to 2.39. Apple announced an upgraded version its mobile phone, the iPhone 4s, but the stock closed down .6%, on apparent disappointment with the upgrade.
Treasuries and Commodities
Bond prices fell, even as Bernanke said the Fed will take further steps to boost the economy. 10-year notes fell 18/32 to yield 1.82%, and 30-year notes dropped 1 25/32 to yield 2.8%.
Commodities closed mixed as energy gained while metals fell. Crude oil inched up .3% to 77.85, while natural gas and gasoline both rallied 1.1%.
Gold sank 2.2% to 1621.41, and silver declined 2.6% to 30.01. Copper settled at 3.115, down 1.1%.
Currencies
The Dollar eased against major currencies, as positive news on the European debt front undermined the flight to safety. The Euro bounced 1.2% to 1.3354, soaring late in the day, and the Pound ticked up .3% to 1.5488. The Australian Dollar suffered a steep drop of 2.3% to .9408, hitting its lowest level in more than a year. The Yen eased .3% to 76.81, while the Swiss Franc gained .6% to .9154.
Economic Outlook
Factory orders unexpectedly declined by .2%, a sharp drop from last month’s 2.1% gain.
Wednesday’s busy economic calendar will include the ADP Employment report, the Challenger job-cut report, the ISM non-manufacturing index, weekly oil inventories and weekly mortgage applications.
Earnings are scheduled for Costco, Marriott, and Monsanto.
Equities
Another round of selling hit Asian markets on mounting concerns Greece will default on its debt obligations. Korea’s Kospi was hardest-hit, dropping as much as 6.3% before partially recovering to close down 3.6%. Oil refiners fell more than 10%, as a drop in Korea’s currency, the won, raised costs and cut margins. In Japan, the Nikkei fell 1.1%, and Australia’s ASX 200 eased just .6%. Hong Kong’s Hang Seng sank another 3.4% to 16250, and is down nearly 10% over the last 3 days. China’s Shanghai Composite remained closed for a public holiday.
European markets closed down more than 2.5%, with banks dropping more than 4%. The FTSE fell 2.6%, the DAX sank 3%, and the CAC40 shed 2.6%. News that Dexia, a regional European bank, may need a bailout due to its Greek debt holdings contributed to the losses. Dexia shares fell 22% to 1.008.
A massive late day spike pulled US markets out of deeply negative territory, triggered by a report that suggested European ministers will do more to tackle the growing debt problem. The Dow had dropped more than 250 points, but closed with a gain of 153 points to 10809. The S&P 500 rallied 2.3%, and the Nasdaq soared 3%.
Dow Swings more than 400 Points in Volatile Session
AMR rebounded from yesterday’s plunged, rallying 21% to 2.39. Apple announced an upgraded version its mobile phone, the iPhone 4s, but the stock closed down .6%, on apparent disappointment with the upgrade.
Treasuries and Commodities
Bond prices fell, even as Bernanke said the Fed will take further steps to boost the economy. 10-year notes fell 18/32 to yield 1.82%, and 30-year notes dropped 1 25/32 to yield 2.8%.
Commodities closed mixed as energy gained while metals fell. Crude oil inched up .3% to 77.85, while natural gas and gasoline both rallied 1.1%.
Gold sank 2.2% to 1621.41, and silver declined 2.6% to 30.01. Copper settled at 3.115, down 1.1%.
Currencies
The Dollar eased against major currencies, as positive news on the European debt front undermined the flight to safety. The Euro bounced 1.2% to 1.3354, soaring late in the day, and the Pound ticked up .3% to 1.5488. The Australian Dollar suffered a steep drop of 2.3% to .9408, hitting its lowest level in more than a year. The Yen eased .3% to 76.81, while the Swiss Franc gained .6% to .9154.
Economic Outlook
Factory orders unexpectedly declined by .2%, a sharp drop from last month’s 2.1% gain.
Wednesday’s busy economic calendar will include the ADP Employment report, the Challenger job-cut report, the ISM non-manufacturing index, weekly oil inventories and weekly mortgage applications.
Earnings are scheduled for Costco, Marriott, and Monsanto.