SamTrader1
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To read the Weekly technical report click here
To read the Weekly fundamental analysis click here
Equities
Asian markets fell, as investor anxiety returned. The Nikkei closed down 1.3% at 8943.76 and Korea’s Kospi dropped 1.7%. In China, news of an expansion in property buying restrictions weighed on real estate shares, as China’s Shanghai Composite slumped 1.6%, and the Hang Seng shed 1.3%.
European markets plunged, posting their biggest daily drop in nearly 3 years. The Dax tumbled 6.2%, the CAC40 sank 5.84%, and the FTSE lost 4.8%. European banks tumbed, with Barclays down 11.3%, and Deutsche Bank down 7%.
In the US, investors dumped stocks, sending the Dow tumbling 420 points to 10991, and the Nasdaq down 5.2%. The VIX fear-indicator jumped to 42.7, up 35%.
Netapp shares sank 14% after issuing a profit warning, and Sears shares tumbled 8.2% on losses which exceeded analyst forecasts.
Treasuries and Commodities
Bonds gained, with yields touching record lows. 10-year notes closed up 24/32, yielding 2.08%, with the yield at one point hitting a record low of 1.97%. 30-year notes rallied 2 7/32, pushing the yield down to 3.45%.
Crude oil tumbled 6.6% to 81.84, dragging down oil stocks. Gasoline futures fell 3%, while natural gas eased .3%.
Gold soared to another record close, up 2% to 1829.10, while copper fell 2.4% to 3.936.
Gold Rally Continues, Soaring past $1800
Currencies
Despite the steep drop in equities, currency markets were quite tame, other than the Australian Dollar which dropped 1.3% to 1.0399. The Euro lost .6% to 1.4338, and the Canadian Dollar dropped .8%, while the Yen traded flat.
Economic Outlook
Signs of a double-dip recession continue to mount, as the Philly Fed index dropped to its lowest level since March 2009, tumbling to -30.7, as opposed to a forecast of +4.0. Weekly jobless claims rose to 408K, 6K more than expected, and existing home sales fell to 4.67M, a significant drop from last month.
No major reports are due on Friday.
Binary Options Trading analysis written by Bradley Welcher
To read the Weekly fundamental analysis click here
Equities
Asian markets fell, as investor anxiety returned. The Nikkei closed down 1.3% at 8943.76 and Korea’s Kospi dropped 1.7%. In China, news of an expansion in property buying restrictions weighed on real estate shares, as China’s Shanghai Composite slumped 1.6%, and the Hang Seng shed 1.3%.
European markets plunged, posting their biggest daily drop in nearly 3 years. The Dax tumbled 6.2%, the CAC40 sank 5.84%, and the FTSE lost 4.8%. European banks tumbed, with Barclays down 11.3%, and Deutsche Bank down 7%.
In the US, investors dumped stocks, sending the Dow tumbling 420 points to 10991, and the Nasdaq down 5.2%. The VIX fear-indicator jumped to 42.7, up 35%.
Netapp shares sank 14% after issuing a profit warning, and Sears shares tumbled 8.2% on losses which exceeded analyst forecasts.
Treasuries and Commodities
Bonds gained, with yields touching record lows. 10-year notes closed up 24/32, yielding 2.08%, with the yield at one point hitting a record low of 1.97%. 30-year notes rallied 2 7/32, pushing the yield down to 3.45%.
Crude oil tumbled 6.6% to 81.84, dragging down oil stocks. Gasoline futures fell 3%, while natural gas eased .3%.
Gold soared to another record close, up 2% to 1829.10, while copper fell 2.4% to 3.936.
Gold Rally Continues, Soaring past $1800
Currencies
Despite the steep drop in equities, currency markets were quite tame, other than the Australian Dollar which dropped 1.3% to 1.0399. The Euro lost .6% to 1.4338, and the Canadian Dollar dropped .8%, while the Yen traded flat.
Economic Outlook
Signs of a double-dip recession continue to mount, as the Philly Fed index dropped to its lowest level since March 2009, tumbling to -30.7, as opposed to a forecast of +4.0. Weekly jobless claims rose to 408K, 6K more than expected, and existing home sales fell to 4.67M, a significant drop from last month.
No major reports are due on Friday.
Binary Options Trading analysis written by Bradley Welcher