Binary Options Trading analysis written by Bradley Welcher - BinaryOptionStrategy
Equities
Asian markets rose moderately thanks to Thursday’s upbeat US data. The Nikkei rose .3% to 8402, the Kospi jumped 1.2%, and the ASX 200 rose by .5%. China’s markets surged on hopes for central bank easing in the mainland. The Shanghai Composite rallied 2% to 2225, and the Hang Seng advanced 1.4%.
European markets closed lower, as concerns over possible debt downgrades intensified. The CAC40 slumped .9%, the DAC dropped .5%, and the FTSE lost .3%. Bucking the downtrend, miners rallied, lifted by a bounce in metal prices. Nokia shares declined more than 3% after Research in Motion’s weak earnings weighed on the mobile sector.
In the US, the major indexes closed mixed. The Nasdaq gained .6%, the S&P 500 rose .3%, while the Dow slipped fractionally. The Dow had opened sharply higher, but those gains evaporated by the afternoon.
Dow Ends Flat, Surrendering Early Gains
Adobe shares climbed 6.6% after reporting solid earnings, while Research in Motion tumbled 11.2% after weak profits and a dismal outlook.
Treasuries and Commodities
Bonds advanced, with 10-year notes climbing 18/32 to yield 1.85%, and 30-year notes gaining 1 12/32 to yield 2.85%.
Metals closed higher, led by copper which closed up 2% to 3.331. Gold gained 1.3% to 1597.60, and silver advanced 1.4% to 29.671.
Crude oil slipped .34 to 93.53, while gasoline ended flat at 2.487.
In agricultural futures, soybeans rallied 1.6%, and sugar rose 1.5%, while coffee lost 1.2%.
Currencies
The Dollar traded mostly lower on Friday, easing slightly after a strong week. The Euro and Pound both rose .2% to 1.3042 and 1.5546 respectively. The Australian Dollar and Swiss Franc rallied .4%. The Yen edged up .2% to 77.74, while the Canadian Dollar lagged behind, dropping .4% to 1.0384.
China’s yuan reached a record high of 6.3294, which was attributed to intervention by the central bank, in an effort to challenge short sellers.
Economic Outlook
Friday’s CPI data was mixed, as core CPI, which excludes food and energy, rose more than expected, while the broader CPI, remained flat. A drop off in inflation could potentially pave the way for additional easing from the Fed.
Monday’s only report will be the NAHB housing market index. Analysts are expected the index to rise from 20 to 21.
Earnings are due from Red Hat.
Equities
Asian markets rose moderately thanks to Thursday’s upbeat US data. The Nikkei rose .3% to 8402, the Kospi jumped 1.2%, and the ASX 200 rose by .5%. China’s markets surged on hopes for central bank easing in the mainland. The Shanghai Composite rallied 2% to 2225, and the Hang Seng advanced 1.4%.
European markets closed lower, as concerns over possible debt downgrades intensified. The CAC40 slumped .9%, the DAC dropped .5%, and the FTSE lost .3%. Bucking the downtrend, miners rallied, lifted by a bounce in metal prices. Nokia shares declined more than 3% after Research in Motion’s weak earnings weighed on the mobile sector.
In the US, the major indexes closed mixed. The Nasdaq gained .6%, the S&P 500 rose .3%, while the Dow slipped fractionally. The Dow had opened sharply higher, but those gains evaporated by the afternoon.
Dow Ends Flat, Surrendering Early Gains
Adobe shares climbed 6.6% after reporting solid earnings, while Research in Motion tumbled 11.2% after weak profits and a dismal outlook.
Treasuries and Commodities
Bonds advanced, with 10-year notes climbing 18/32 to yield 1.85%, and 30-year notes gaining 1 12/32 to yield 2.85%.
Metals closed higher, led by copper which closed up 2% to 3.331. Gold gained 1.3% to 1597.60, and silver advanced 1.4% to 29.671.
Crude oil slipped .34 to 93.53, while gasoline ended flat at 2.487.
In agricultural futures, soybeans rallied 1.6%, and sugar rose 1.5%, while coffee lost 1.2%.
Currencies
The Dollar traded mostly lower on Friday, easing slightly after a strong week. The Euro and Pound both rose .2% to 1.3042 and 1.5546 respectively. The Australian Dollar and Swiss Franc rallied .4%. The Yen edged up .2% to 77.74, while the Canadian Dollar lagged behind, dropping .4% to 1.0384.
China’s yuan reached a record high of 6.3294, which was attributed to intervention by the central bank, in an effort to challenge short sellers.
Economic Outlook
Friday’s CPI data was mixed, as core CPI, which excludes food and energy, rose more than expected, while the broader CPI, remained flat. A drop off in inflation could potentially pave the way for additional easing from the Fed.
Monday’s only report will be the NAHB housing market index. Analysts are expected the index to rise from 20 to 21.
Earnings are due from Red Hat.