SamTrader1
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By, BinaryOptionStrategy
Equities
Asian markets rallied, as the major indexes rose at least 1%. The Nikkei rose 1.1% to 9460, led by car makers. In Korea, the Kospi gained 1.4%, and Australia’s ASX 200 rose 1.3%, led by banks and miners. China’s Shanghai Composite gained 1%, and the Hang Seng climbed 1.2%.
European indexes posted their largest gain in two months. The CAC40 gained 2%, the DAX gained 1.9%, and the FTSE rose 1.4%, as investors grew more optimistic about a Greek bailout. Italian stocks reversed Monday’s losses, rising 2.1%, and the oil and gas sector rallied 2.4%.
In the US, the Nasdaq led the advance, rallying 2.2%, while the Dow rose 110 points to 12190 and the S&P 500 gained 1.3%. The impressive Nasdaq gains pushed the index back into positive territory for the year.
Nasdaq Turns Positive for the Year
Research in Motion surged 10.3%, after falling precipitously over the past few days. Citigroup said it expects the semiconductor sector to rebound in August, sending the sector up more than 2%.
In earnings news, Barnes & Noble sank 6% after reporting a larger than expected loss. Walgreens fell 4.2% despite posting strong profits for the quarter, after failing to renew a deal with Express Scripts.
Treasuries and Commodities
A late day slide in bonds pushed the 10-year note down 6/32 to yield 2.98%, and the 30-year note down 10/32 to yield 4.21%.
The energy sector closed mixed with no clear direction. Crude oil inched up .1% to 93.40, while Brent crude fell anther 1.2% to 110.36. Natural gas rallied 1.9% to 4.40, but gasoline fell 1.2% to 2.8760.
Metals rose moderately, led by silver which climbed 1.1% to 36.465. Gold added 5.10 to close at 1547.10, and copper gained .3% to 4.1050.
Currencies
The Dollar slid as renewed investor optimism encouraged risk taking. The Canadian Dollar gained .8% to .9722, leading the gains, followed by the Euro which rose .7% to 1.4404. The Swiss Franc rose .6% to .8405, and the Pound added .3% to 1.6246.
Economic Outlook
Existing home sales were in line with estimates, but Eurozone economic sentiment came in much weaker than expected. The Greek government survived a vote of confidence, the first step in approving new austerity measures required to get a bailout from the IMF and ECB.
The Fed will issue a statement following the conclusion of the FOMC meeting on Wednesday afternoon, and will hold a press conference later in the day. Also due on Wednesday are weekly mortgage applications and weekly oil inventories.
Earnings are scheduled for Fedex, Bed Bath and Beyond, Carmax and Redhat.
Equities
Asian markets rallied, as the major indexes rose at least 1%. The Nikkei rose 1.1% to 9460, led by car makers. In Korea, the Kospi gained 1.4%, and Australia’s ASX 200 rose 1.3%, led by banks and miners. China’s Shanghai Composite gained 1%, and the Hang Seng climbed 1.2%.
European indexes posted their largest gain in two months. The CAC40 gained 2%, the DAX gained 1.9%, and the FTSE rose 1.4%, as investors grew more optimistic about a Greek bailout. Italian stocks reversed Monday’s losses, rising 2.1%, and the oil and gas sector rallied 2.4%.
In the US, the Nasdaq led the advance, rallying 2.2%, while the Dow rose 110 points to 12190 and the S&P 500 gained 1.3%. The impressive Nasdaq gains pushed the index back into positive territory for the year.
Nasdaq Turns Positive for the Year
Research in Motion surged 10.3%, after falling precipitously over the past few days. Citigroup said it expects the semiconductor sector to rebound in August, sending the sector up more than 2%.
In earnings news, Barnes & Noble sank 6% after reporting a larger than expected loss. Walgreens fell 4.2% despite posting strong profits for the quarter, after failing to renew a deal with Express Scripts.
Treasuries and Commodities
A late day slide in bonds pushed the 10-year note down 6/32 to yield 2.98%, and the 30-year note down 10/32 to yield 4.21%.
The energy sector closed mixed with no clear direction. Crude oil inched up .1% to 93.40, while Brent crude fell anther 1.2% to 110.36. Natural gas rallied 1.9% to 4.40, but gasoline fell 1.2% to 2.8760.
Metals rose moderately, led by silver which climbed 1.1% to 36.465. Gold added 5.10 to close at 1547.10, and copper gained .3% to 4.1050.
Currencies
The Dollar slid as renewed investor optimism encouraged risk taking. The Canadian Dollar gained .8% to .9722, leading the gains, followed by the Euro which rose .7% to 1.4404. The Swiss Franc rose .6% to .8405, and the Pound added .3% to 1.6246.
Economic Outlook
Existing home sales were in line with estimates, but Eurozone economic sentiment came in much weaker than expected. The Greek government survived a vote of confidence, the first step in approving new austerity measures required to get a bailout from the IMF and ECB.
The Fed will issue a statement following the conclusion of the FOMC meeting on Wednesday afternoon, and will hold a press conference later in the day. Also due on Wednesday are weekly mortgage applications and weekly oil inventories.
Earnings are scheduled for Fedex, Bed Bath and Beyond, Carmax and Redhat.