Binary Options Report (Nov. 7- Nov. 11)

Sep 8, 2011
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Binary Options Trading analysis written by David Frank - BinaryOptionStrategy
Markets

Stocks finished higher Friday. Marekets ended up extending gains for a second session. This comes amid signs of stabilization in the Euro zone. Also comes after a better than expected consumer report. All three major averages are now in positive territory for 2011.

The Dow Jones jumped 259.89 points, or 2.19 percent, to finish at 12,153.68. The S&P 500 rose 24.16 points, or 1.95 percent, to close at 1,263.85. The Nasdaq exploded for 53.60 points, or 2.04 percent, to end at 2,678.75.



DJIA CHART

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FOREX

The Euro ended the week on a good note. The market ended upposting the largest daily rally in two weeks and trimming its weekly loss to just 0.2 percent on average against the major currencies. Optimism emerged after Greece finally settled on Lucas Papademos as thier new Prime Minister. Also, Italy abandoned plans for disruptive early elections in favor of a technocrat transition government headed by former EU Commissioner Mario Motti. The news stroked hopes that the emergence of coherent stewardship will speed the passage of austerity measures and calm already nervous financial markets. Thereby lightening the debt burden on both countries by bearing down on borrowing costs.

This week, this happy mood is might not prove lasting. While the passage of deficit reduction plans is certainly a step in the right direction, it is clearly their effective implementation is what investors are truly concerned about. Greece has proven to be an excellent case study of a country that promised a lot but delivered very little. they have been failing repeatedly to meet the budget benchmarks set by the EU and the IMF. With that said, traders are unlikely to expect much more of Italy.

EURUSD Chart

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COMMODITIES

Crude rose $1.26 cents to end the week at $95.52. The market price has not finished that high since July 29. Brent crude, which is used to price many foreign oil varieties, rose $2.59 to finish at $114.56 in London. Gold for December delivery closed down $9 at $1,756.10 an ounce at the Comex division of the New York Mercantile Exchange.

CRUDE OIL Chart

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EQUTIES

Walt Disney rose after the media conglomerate posted sales that beat expectations as advertising rose at the company’s cable networks and theme park revenue increased. Nvidia rose after the chipmaker posted results that topped estimates. Although its revenue forecast was a lower than expected. Meanwhile, Citigroup raised the company’s price target on the firm to $17 from $14. Also, shares of Caterpillar rose after the heavy equipment maker said it will move production of some equipment from Japan to North America. they are doing this to be closer to customers in the Americas and Europe.