Binary Options Daily Analysis – Weekly Jobless Claims Drop to 3.5 Year Low

Sep 8, 2011
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Binary Options Trading analysis written by Bradley Welcher - BinaryOptionStrategy

Equities
Asian markets fell on Thursday, as fear over Europe’s debt crisis intensified. In Japan, the Nikkei fell 1.7% to 8377. Scandal-hit Olympus shares tumbled more than 20% after restating earnings, as the company revealed a $1.1 billion loss. Korea’s Kospi dropped 2.1%, and the ASX 200 fell 1.2%. PMI data for China showed a slowdown in factory activity, sending the Shanghai Composite down 2.1% to 2181, and the Hang Seng down 1.8%.

European markets bounced moderately, lifted by upbeat US data. The DAX climbed 1%, the CAC40 gained .8%, and the FTSE rose .6%. The European insurance index rallied 2.3% on news that Old Mutual was selling part of its business for $3.2 billion. Fitch cut the debt rating on Credit Agricole, sending the bank’s shares down 4.4%.

US stocks opened sharply higher, but surrendered most of their gains as the day dragged on. The Dow rose 45 points to 11869, the S&P 500 edged up .3%, and the Nasdaq ended up fractionally.

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Dow Gains but Closes well off Lows

Fedex shares surged 8% after reporting earnings which were stronger than expected.

Treasuries and Commodities
US bonds eased slightly, with 10-year notes down 1/32 to yield 1.91%, and 30-year notes down 8/32 to yield 2.92%.

Energy fell, led by crude oil which dropped 1.4% to 93.66. Gasoline fell .5% to 2.4904, and natural gas slipped .2% to 3.13.

Gold fell another 18.40 to 1568.50, and copper lost .6% 3.2595. Silver recovered slightly from Wednesdays tumble, edging up .3% to 29.03.

Currencies
The Swiss Franc surged 1.3% to 1.0634, while the Dollar eased modestly against other currencies. The Euro rose .2% to 1.3014, the Pound gained .3% to 1.5510, and the Canadian Dollar advanced .4% to 1.0354.

Economic Outlook
Weekly jobless claims fell to 366K, far better than the 389K forecast, its lowest level in years. The Empire State Manufacturing Index jumped to 9.5, showing a sharp rise in factory activity.

Friday’s sole report will be CPI, which is expected to show a .1% rise.