Binary Options Trading analysis written by Bradley Welcher - BinaryOptionStrategy
Equities
Asian markets were lifted by a report by the Financial Times that European leaders were trying to strengthen the region’s bailout fund. The Nikkei jumped 1.7% to 8722, the Kospi gained .9%, and the ASX 200 rose .7%. The Hang Seng rallied 1.6% while China’s Shanghai Composite rose .3%, snapping a 3-day losing streak.
Meanwhile, European markets posted moderate losses, surrendering earlier gains. The DAX fell .6%, the FTSE slipped .4%, and the CAC40 eased .1%. S&P has threatened to cut the credit rating on the ESFS bailout fund, and the threat may help force European leaders to agree to a deal at Friday’s summit.
US stocks closed mostly higher. The Dow gained 46 points to 12196, the S&P 500 rose .2%, while the Nasdaq ended flat.
Stocks Rally on IMF Loan Rumor
Rumors circulated that the G20 is considering a $600 billion loan to the IMF to help Europe, but the IMF denied the claim.
Energy stocks fell after a bearish oil report showed an unexpected rise in oil inventories. Halliburton shares slumped more than 6%, and Peabody Energy fell 3.4%.
In retail news, Talbots shares soared nearly 70% after a private equity firm offered to buy the firm. Men’s Wearhouse surged 19.6% after blowing past earning estimates.
Treasuries and Commodities
US bonds gained as the threat of European credit rating cuts lifted the appeal of safe haven treasuries. 10-year notes advanced 17/32 to yield 2.03%, and 30-year notes climbed 22/32 to yield 3.06%.
Crude oil closed down .6% to 100.70, but was well of its low of 99.67. Gasoline futures slumped 2.2%, and natural gas declined 1.7%.
Gold rose 14.20 to 1746, while silver dropped .5%, and copper fell .6% to 3.554.
Agricultural futures sank, as sugar lost 4.7% and wheat fell 2%.
Currencies
The Dollar traded mixed as the market prepared for the upcoming EU summit. The Pound rallied .7% to 1.5707, and the Australian Dollar gained .4% to 1.0286. The Euro, Canadian Dollar and Yen all closed little changed. The Swiss Franc slipped .2% to 1.0827.
Economic Outlook
Consumer credit increased to $2.457 trillion, slightly more than expected. Weekly mortgage applications also increased, thanks to a recovering economy and low interest rates.
On Thursday, the ECB and Bank of England are scheduled to release their rate statements. Both are expected to leave rates unchanged. Also due are weekly jobless claims and wholesale trade.
Earnings are due from Costco and Smithfield Foods.
Equities
Asian markets were lifted by a report by the Financial Times that European leaders were trying to strengthen the region’s bailout fund. The Nikkei jumped 1.7% to 8722, the Kospi gained .9%, and the ASX 200 rose .7%. The Hang Seng rallied 1.6% while China’s Shanghai Composite rose .3%, snapping a 3-day losing streak.
Meanwhile, European markets posted moderate losses, surrendering earlier gains. The DAX fell .6%, the FTSE slipped .4%, and the CAC40 eased .1%. S&P has threatened to cut the credit rating on the ESFS bailout fund, and the threat may help force European leaders to agree to a deal at Friday’s summit.
US stocks closed mostly higher. The Dow gained 46 points to 12196, the S&P 500 rose .2%, while the Nasdaq ended flat.
Stocks Rally on IMF Loan Rumor
Rumors circulated that the G20 is considering a $600 billion loan to the IMF to help Europe, but the IMF denied the claim.
Energy stocks fell after a bearish oil report showed an unexpected rise in oil inventories. Halliburton shares slumped more than 6%, and Peabody Energy fell 3.4%.
In retail news, Talbots shares soared nearly 70% after a private equity firm offered to buy the firm. Men’s Wearhouse surged 19.6% after blowing past earning estimates.
Treasuries and Commodities
US bonds gained as the threat of European credit rating cuts lifted the appeal of safe haven treasuries. 10-year notes advanced 17/32 to yield 2.03%, and 30-year notes climbed 22/32 to yield 3.06%.
Crude oil closed down .6% to 100.70, but was well of its low of 99.67. Gasoline futures slumped 2.2%, and natural gas declined 1.7%.
Gold rose 14.20 to 1746, while silver dropped .5%, and copper fell .6% to 3.554.
Agricultural futures sank, as sugar lost 4.7% and wheat fell 2%.
Currencies
The Dollar traded mixed as the market prepared for the upcoming EU summit. The Pound rallied .7% to 1.5707, and the Australian Dollar gained .4% to 1.0286. The Euro, Canadian Dollar and Yen all closed little changed. The Swiss Franc slipped .2% to 1.0827.
Economic Outlook
Consumer credit increased to $2.457 trillion, slightly more than expected. Weekly mortgage applications also increased, thanks to a recovering economy and low interest rates.
On Thursday, the ECB and Bank of England are scheduled to release their rate statements. Both are expected to leave rates unchanged. Also due are weekly jobless claims and wholesale trade.
Earnings are due from Costco and Smithfield Foods.