SamTrader1
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To read the Weekly technical report click here
To read the Weekly fundamental analysis click here
Equities
Asian markets rallied, propelled by Monday’s strong showing on Wall Street. The Nikkei advanced 1.2% to 8954, and the Kospi gained .8%, extending their winning streak to 4. In China, the Hang Seng rallied 1.7% , while the Shanghai Composite fell .4%, surrendering early morning gains of 2%.
European markets closed mixed, as the FTSE soared 2.7% to 5269, while the DAX fell .5%. UK markets had been closed on Monday, so the FTSE’s gains were largely just catching up. UK banks rallied after Deutsche Bank upgraded Royal Bank of Scotland (RBS). RBS jumped 8%, Lloyds advanced 7.8%, and HSBC rose 4.2%.
In the US, stocks rose for a third day, pushing the indexes modestly higher. The Dow rose 21 points to 11560, the S&P 500 edged up .2%, and the Nasdaq gained .6%. Trading was choppy, with the Dow dropping as much as 110 points in the morning, and rallying 90 points in the late afternoon.
Choppy Session for the Dow
The Fed released the minutes from their last meeting, revealing increased interest for a third round of easing.
Barnes & Noble soared 14.9% after reporting a smaller loss than expected, and Dollar General rallied 5.8% after beating analyst profit forecasts.
Treasuries and Commodities
Bonds rose, encouraged by speculation of further action by the Fed. 10-year notes rose 20/32 to yield 2.18%, and 30-year notes gained 1 7/32 to yield 3.53%/
The energy sector rallied, led by gasoline futures which jumped 3% to 2.9929. Crude oil added 1.47 to 88.74, and natural gas rose by 2.2%.
Metals closed sharply higher as gold rebounded, rising 2.5% to 1835.90. Copper gained 1.3% to 4.1415, and silver closed up 2.1% at 41.415.
Currencies
The Dollar closed mostly higher against global currencies, although the gains were limited. The Pound fell .6% to 1.6316, and the Euro eased .3% to 1.4466, but both were well off their session lows. The Australian Dollar advanced .4% to 1.0718, and the Yen rose .2% to 76.67.
Economic Outlook
Tuesday’s reports were mixed. The S&P Home Price Index dropped slightly less than expected, but consumer confidence tumbled to its lowest level in more than 2 years.
Wednesday’s reports will include the ADP employment report, the Challenger job-cut report, Chicago PMI, Factory Orders, weekly mortgage applications, and weekly oil inventories.
Binary Options Trading analysis written by Bradley Welcher
To read the Weekly fundamental analysis click here
Equities
Asian markets rallied, propelled by Monday’s strong showing on Wall Street. The Nikkei advanced 1.2% to 8954, and the Kospi gained .8%, extending their winning streak to 4. In China, the Hang Seng rallied 1.7% , while the Shanghai Composite fell .4%, surrendering early morning gains of 2%.
European markets closed mixed, as the FTSE soared 2.7% to 5269, while the DAX fell .5%. UK markets had been closed on Monday, so the FTSE’s gains were largely just catching up. UK banks rallied after Deutsche Bank upgraded Royal Bank of Scotland (RBS). RBS jumped 8%, Lloyds advanced 7.8%, and HSBC rose 4.2%.
In the US, stocks rose for a third day, pushing the indexes modestly higher. The Dow rose 21 points to 11560, the S&P 500 edged up .2%, and the Nasdaq gained .6%. Trading was choppy, with the Dow dropping as much as 110 points in the morning, and rallying 90 points in the late afternoon.
Choppy Session for the Dow
The Fed released the minutes from their last meeting, revealing increased interest for a third round of easing.
Barnes & Noble soared 14.9% after reporting a smaller loss than expected, and Dollar General rallied 5.8% after beating analyst profit forecasts.
Treasuries and Commodities
Bonds rose, encouraged by speculation of further action by the Fed. 10-year notes rose 20/32 to yield 2.18%, and 30-year notes gained 1 7/32 to yield 3.53%/
The energy sector rallied, led by gasoline futures which jumped 3% to 2.9929. Crude oil added 1.47 to 88.74, and natural gas rose by 2.2%.
Metals closed sharply higher as gold rebounded, rising 2.5% to 1835.90. Copper gained 1.3% to 4.1415, and silver closed up 2.1% at 41.415.
Currencies
The Dollar closed mostly higher against global currencies, although the gains were limited. The Pound fell .6% to 1.6316, and the Euro eased .3% to 1.4466, but both were well off their session lows. The Australian Dollar advanced .4% to 1.0718, and the Yen rose .2% to 76.67.
Economic Outlook
Tuesday’s reports were mixed. The S&P Home Price Index dropped slightly less than expected, but consumer confidence tumbled to its lowest level in more than 2 years.
Wednesday’s reports will include the ADP employment report, the Challenger job-cut report, Chicago PMI, Factory Orders, weekly mortgage applications, and weekly oil inventories.
Binary Options Trading analysis written by Bradley Welcher