SamTrader1
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By, BinaryOptionStrategy
Equities
The week opened on a down note for Asian markets following Friday’s losses on Wall Street. The Nikkei fell 100 points to 9578, while the the Kospi and ASX 200 both dropped 1%. China fared better than the rest of the region, as the Hang Seng slipped .4%, and the Shanghai Composite rose .4%, on hopes that the waves of fiscal tightening may soon stop.
European markets closed mostly higher, as the FTSE rose .4% and the CAC40 gained .3%. The region is anxiously awaiting the Greek parliamentary vote to approve the austerity measures necessary for an bailout.
Meanwhile, US markets rallied, led by tech shares. The Nasdaq gained 1.3% to 2688, the Dow added 109 points to 12044, and the S&P 500 rose .9% to 1280.
Dow Climbs more than 100 Points
Banks gained after less strict capital requirements for the nations top banks were proposed by regulators.
In the tech world, Microsoft shares jumped 3.7%, while semiconductor stocks extended their slide, as Broadcom and Nvidia both fell more than 2%.
Treasuries and Commodities
The upbeat sentiment sent bonds tumbling. 10-year notes fell 15/32 to yield 2.92%, and 30-year notes dropped 1 19/32 to yield 4.28%.
The Treasury auctioned $35 billion in 2-year notes, which had a bid-to-cover ratio of 3.08 and a high yield of .395%. An auction for 5-year notes is scheduled for Tuesday. QE2 will come to an end this week, so the bond market may be unusually volatile.
Energy traded mostly higher, as gasoline futures gained 1.1%, natural gas rose .7% and Brent crude rose 1.1% to 106.27. However, US crude continued its decline, slipped .50 to 90.66.
Metals closed down, with silver once again leading the decliners. Silver shed 2.9% to 33.62, gold eased .3% to 1496.40, and copper declined .6% to 4.075.
Currencies
The US Dollar closed mixed against the major currency pairs, after initially rallying. The Euro rose .7% to 1.4282, leading the gainers, after the pair recovered from a steep drop down to 1.4103 in the early morning. The Pound inched up .1% to 1.5981, and the Canadian Dollar edged up .2%.
On the losing side, the Yen fell .6% to 80.90, the Australian Dollar skidded .5% to 1.0436, and the Swiss Franc slid .2% to .8359.
Economic Outlook
On the economic front, Personal Income and Personal Spending both came in slightly below expectations.
Tuesday’s reports will include the Case-Shiller Home Price Index, and Consumer Confidence.
Equities
The week opened on a down note for Asian markets following Friday’s losses on Wall Street. The Nikkei fell 100 points to 9578, while the the Kospi and ASX 200 both dropped 1%. China fared better than the rest of the region, as the Hang Seng slipped .4%, and the Shanghai Composite rose .4%, on hopes that the waves of fiscal tightening may soon stop.
European markets closed mostly higher, as the FTSE rose .4% and the CAC40 gained .3%. The region is anxiously awaiting the Greek parliamentary vote to approve the austerity measures necessary for an bailout.
Meanwhile, US markets rallied, led by tech shares. The Nasdaq gained 1.3% to 2688, the Dow added 109 points to 12044, and the S&P 500 rose .9% to 1280.
Dow Climbs more than 100 Points
Banks gained after less strict capital requirements for the nations top banks were proposed by regulators.
In the tech world, Microsoft shares jumped 3.7%, while semiconductor stocks extended their slide, as Broadcom and Nvidia both fell more than 2%.
Treasuries and Commodities
The upbeat sentiment sent bonds tumbling. 10-year notes fell 15/32 to yield 2.92%, and 30-year notes dropped 1 19/32 to yield 4.28%.
The Treasury auctioned $35 billion in 2-year notes, which had a bid-to-cover ratio of 3.08 and a high yield of .395%. An auction for 5-year notes is scheduled for Tuesday. QE2 will come to an end this week, so the bond market may be unusually volatile.
Energy traded mostly higher, as gasoline futures gained 1.1%, natural gas rose .7% and Brent crude rose 1.1% to 106.27. However, US crude continued its decline, slipped .50 to 90.66.
Metals closed down, with silver once again leading the decliners. Silver shed 2.9% to 33.62, gold eased .3% to 1496.40, and copper declined .6% to 4.075.
Currencies
The US Dollar closed mixed against the major currency pairs, after initially rallying. The Euro rose .7% to 1.4282, leading the gainers, after the pair recovered from a steep drop down to 1.4103 in the early morning. The Pound inched up .1% to 1.5981, and the Canadian Dollar edged up .2%.
On the losing side, the Yen fell .6% to 80.90, the Australian Dollar skidded .5% to 1.0436, and the Swiss Franc slid .2% to .8359.
Economic Outlook
On the economic front, Personal Income and Personal Spending both came in slightly below expectations.
Tuesday’s reports will include the Case-Shiller Home Price Index, and Consumer Confidence.