Binary Options Trading analysis written by Bradley Welcher - BinaryOptionStrategy
Equities
Asian markets traded mixed as the region calmed following Monday’s slide. Korean shares partially recovered from Monday’s slide, gaining .9%, and the Nikkei rose .5% to 8336, led by a 155 jump in Olympus shares. The ASX 200 slid .2%, the Shanghai Composite slipped .1%, while the Hang Seng edged up fractionally.
European markets surged, boosted by impressive US housing data, and a jump in German business sentiment. The DAX jumped 3.1%, the CAC40 rallied 2.7%, and the FTSE climbed by 1%. The automobile sector advanced by 5.1%, lifted by the bullish outlook. A Spanish short-term debt auction saw yields drop sharply from a month ago, a positive sign for the debt crisis.
The rally continued in the US, as the Dow advanced 337 points, the Nasdaq climbed 3.2%, and the S&P 500 gained 3%.
The S&P 500 Surges 3%
Jefferies shares rocketed 23% higher after reporting earnings which far exceeded analyst expectations.
Homebuilders rallied, as strong housing data lifted the sector. Beazer Homes soared 15%, and Lennar leaped 6% higher.
Treasuries and Commodities
Bonds tumbled as investors poured into riskier assets. 10-year notes fell 31/32 to yield 1.92%, and 30-year notes dropped 2 24//32 to yield 2.92%.
Commodities posted strong gains across all sectors. Crude oil advanced 3.87 to 97.56, gasoline rallied 3.8% to 2.584, and natural gas gained 1.4% to 3.14.
Silver led metal higher, rising 2.4% to 29.565. Gold gained 1.2% to 1616.50 and copper jumped 2.2% to 3.3815.
Currencies
The Australian Dollar soared 1.8% to 1.0075 as investors switched to “risk on”. The Pound climbed 1% to 1.5659, the Canadian Dollar gained .8% to 1.0300, and the Euro rose by .6% to 1.3078.
Economic Outlook
Housing starts and building permits both rose by 50K, far better than the 10K gain forecast by analysts, a strong sign that the housing market is on the rebound.
Wednesday’s reports will include existing home sales, weekly oil inventories, and weekly mortgage applications.
Earnings are due from Bed Bath & Beyond, Carmax, Micron Technology, and Walgreen’s.
Equities
Asian markets traded mixed as the region calmed following Monday’s slide. Korean shares partially recovered from Monday’s slide, gaining .9%, and the Nikkei rose .5% to 8336, led by a 155 jump in Olympus shares. The ASX 200 slid .2%, the Shanghai Composite slipped .1%, while the Hang Seng edged up fractionally.
European markets surged, boosted by impressive US housing data, and a jump in German business sentiment. The DAX jumped 3.1%, the CAC40 rallied 2.7%, and the FTSE climbed by 1%. The automobile sector advanced by 5.1%, lifted by the bullish outlook. A Spanish short-term debt auction saw yields drop sharply from a month ago, a positive sign for the debt crisis.
The rally continued in the US, as the Dow advanced 337 points, the Nasdaq climbed 3.2%, and the S&P 500 gained 3%.
The S&P 500 Surges 3%
Jefferies shares rocketed 23% higher after reporting earnings which far exceeded analyst expectations.
Homebuilders rallied, as strong housing data lifted the sector. Beazer Homes soared 15%, and Lennar leaped 6% higher.
Treasuries and Commodities
Bonds tumbled as investors poured into riskier assets. 10-year notes fell 31/32 to yield 1.92%, and 30-year notes dropped 2 24//32 to yield 2.92%.
Commodities posted strong gains across all sectors. Crude oil advanced 3.87 to 97.56, gasoline rallied 3.8% to 2.584, and natural gas gained 1.4% to 3.14.
Silver led metal higher, rising 2.4% to 29.565. Gold gained 1.2% to 1616.50 and copper jumped 2.2% to 3.3815.
Currencies
The Australian Dollar soared 1.8% to 1.0075 as investors switched to “risk on”. The Pound climbed 1% to 1.5659, the Canadian Dollar gained .8% to 1.0300, and the Euro rose by .6% to 1.3078.
Economic Outlook
Housing starts and building permits both rose by 50K, far better than the 10K gain forecast by analysts, a strong sign that the housing market is on the rebound.
Wednesday’s reports will include existing home sales, weekly oil inventories, and weekly mortgage applications.
Earnings are due from Bed Bath & Beyond, Carmax, Micron Technology, and Walgreen’s.