SamTrader1
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By, BinaryOptionStrategy.com
Equities
Asian markets tumbled following Wednesday’s steep losses on Wall Street on growing concerns over Greek debt. The Nikkei lost 1.7% to 9411, while the Kospi and ASX 200 both fell 1.9%. China’s Shanghai Composite dropped 1.5%, and the Hang Seng fell 1.8%.
In Europe, the major indexes extended their declines, led by the FTSE which shed .8% to 5699. The CAC40 fell .4%, and the German DAX closed down just .1% thanks to a late day rally. Violence erupted in Athens as citizens protested the planned austerity cuts.
US markets ended mixed, as the Dow rose 64 points to 11961 and the S&P 500 inched up .2% to 1268, while the Nasdaq slipped .3%. The VIX surged as high as 24.65, before closing at 22.73, up 6.6%, as investor fear continues to rise.
Dow Rises 64 Points
In legal news, HP sued Oracle, and separately, Oracle sued Google.
Pandora shares tumbled nearly 24% to 13.26, falling well below the $16 offering price, just one day after the IPO.
Kroger rose 4.5% and Smithfield Foods gained 6.4% on strong earnings reports.
After the bell, Research in Motion reported earnings which beat estimates, but the outlook was weaker than hoped. The shares tumbled 14% after hours to 30.26.
Treasuries and Commodities
Treasuries continued to rise, as the 10-year note climbed 13/32 to yield 2.92% and 30-year notes added 19/32 to yield 4.16%.
Crude oil closed flat after Wednesday’s steep declines, while natural gas sank 3.2% to 4.43.
Metals traded mixed, as silver surged 4.8% to 37.11, while gold and copper closed little changed.
Corn extended its recent losses, shedding 3.2% and wheat tumbled 4% as the agricultural sector sold off.
Currencies
The Euro managed to recover from an early day drop down to 1.4075, closing up .1% at 1.4181. The Swiss Franc led the gainers, rising .5% to .8494, followed by the Yen which gained .4% to 80.65. The Pound and Australian Dollar slipped .2%, and the Canadian Dollar lost .4% to .9832.
Economic Outlook
Thursday’s data was moderately upbeat, as building permits and housing starts beat analyst forecasts. Weekly unemployment claims fell to 414K, 7000 less than forecast, and a significant improvement over last week’s 430K.
On a dimmer note, the Philly Fed Manufacturing Index unexpectedly declined last month, dropping to its lowest level since July 2009.
Friday’s reports will include the University of Michigan’s Consumer Sentiment, and Leading Indicators. Friday will be a quadruple witching day, so there may be unusual volatility throughout the day.
Equities
Asian markets tumbled following Wednesday’s steep losses on Wall Street on growing concerns over Greek debt. The Nikkei lost 1.7% to 9411, while the Kospi and ASX 200 both fell 1.9%. China’s Shanghai Composite dropped 1.5%, and the Hang Seng fell 1.8%.
In Europe, the major indexes extended their declines, led by the FTSE which shed .8% to 5699. The CAC40 fell .4%, and the German DAX closed down just .1% thanks to a late day rally. Violence erupted in Athens as citizens protested the planned austerity cuts.
US markets ended mixed, as the Dow rose 64 points to 11961 and the S&P 500 inched up .2% to 1268, while the Nasdaq slipped .3%. The VIX surged as high as 24.65, before closing at 22.73, up 6.6%, as investor fear continues to rise.
Dow Rises 64 Points
In legal news, HP sued Oracle, and separately, Oracle sued Google.
Pandora shares tumbled nearly 24% to 13.26, falling well below the $16 offering price, just one day after the IPO.
Kroger rose 4.5% and Smithfield Foods gained 6.4% on strong earnings reports.
After the bell, Research in Motion reported earnings which beat estimates, but the outlook was weaker than hoped. The shares tumbled 14% after hours to 30.26.
Treasuries and Commodities
Treasuries continued to rise, as the 10-year note climbed 13/32 to yield 2.92% and 30-year notes added 19/32 to yield 4.16%.
Crude oil closed flat after Wednesday’s steep declines, while natural gas sank 3.2% to 4.43.
Metals traded mixed, as silver surged 4.8% to 37.11, while gold and copper closed little changed.
Corn extended its recent losses, shedding 3.2% and wheat tumbled 4% as the agricultural sector sold off.
Currencies
The Euro managed to recover from an early day drop down to 1.4075, closing up .1% at 1.4181. The Swiss Franc led the gainers, rising .5% to .8494, followed by the Yen which gained .4% to 80.65. The Pound and Australian Dollar slipped .2%, and the Canadian Dollar lost .4% to .9832.
Economic Outlook
Thursday’s data was moderately upbeat, as building permits and housing starts beat analyst forecasts. Weekly unemployment claims fell to 414K, 7000 less than forecast, and a significant improvement over last week’s 430K.
On a dimmer note, the Philly Fed Manufacturing Index unexpectedly declined last month, dropping to its lowest level since July 2009.
Friday’s reports will include the University of Michigan’s Consumer Sentiment, and Leading Indicators. Friday will be a quadruple witching day, so there may be unusual volatility throughout the day.