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By, http://www.BinaryOptionStrategy.com
EquitiesAsian markets were hit by a heavy wave of selling, as the violence in Libya escalated. The Nikkei snapped a 7-day winning streak, falling 1.8% to 10665, and China’s Shanghai Composite sank 2.6%. The Hang Seng fell 2.1%, and Australian ASX 200 slid a more moderate .9%.
In Europe the drop was more moderate, as markets had already dropped on Monday. The FTSE eased .3% to 5997, while the CAC40 suffered a more substantial 1.2% loss.
Reopening after Monday’s holiday break, US markets tumbled. The Nasdaq led the declines, falling 2.7%, while the Dow dropped 178 points to 12220. The VIX jumped 27% as fear spiked. The spike in o
Nasdaq Drops 2.7%
Oil prices sent airline stocks sharply lower, as United Airlines fell 9.2% and Delta Airlines fell 6.6%.
Walmart lost 3.1% after reporting a 7th straight quarter of sales decreases. Barnes and Noble shares plunged 14.4% after suspending its dividend. Netflix sank 5.9% after Amazon announced a new streaming tv service that will be free for Amazon Prime members.
Treasuries and Commodities
Bond prices jumped as investors fled to safety. The 10-year note rose 1 2/32, to yield 3.46%, and 30-year notes rose 1 9/32 to yield 4.6%.
Oil extended its gains, climbing to 94.06, up more than 9% since Friday.
Precious metals dropped, with palladium leading the declines, dropping 6%. To 805.45. Silver slid $1 to 32.86, and gold dipped $7 to 1400.
Agricultural futures tumbled, as the selloff spread. Wheat plummeted 7.3%, soybeans dropped 5.1%, and cotton fell 4.6%.
Currencies
Despite the negative tone in equities and commodities, the currency markets moved moderately. The dollar was mixed, rising .6% against the Pound, .7% vs. the Canadian Dollar and 1% against the Australian Dollar.
The yen rose .5% and the Swiss Franc spiked .9% to .9386.
The Euro ended down .2%, recovering from a 150 pip loss earlier in the day.
Economic Outlook
The spreading political unrest in the Middle East will remain a driving force for the market, particularly as it impacts oil supplies and prices. A sharp rise in oil could threaten the much-needed global economic recovery.
Consumer confidence climbed to a 3-year high, exceeding analyst estimates. Home prices dropped 1.2% according to the Case-Shiller Home Price Index.
Wednesday’s reports will include Existing Home Sales, and weekly mortgage applications.
Earnings are due from Limited Brands, Priceline.com, Lowes, and TJ Maxx.
EquitiesAsian markets were hit by a heavy wave of selling, as the violence in Libya escalated. The Nikkei snapped a 7-day winning streak, falling 1.8% to 10665, and China’s Shanghai Composite sank 2.6%. The Hang Seng fell 2.1%, and Australian ASX 200 slid a more moderate .9%.
In Europe the drop was more moderate, as markets had already dropped on Monday. The FTSE eased .3% to 5997, while the CAC40 suffered a more substantial 1.2% loss.
Reopening after Monday’s holiday break, US markets tumbled. The Nasdaq led the declines, falling 2.7%, while the Dow dropped 178 points to 12220. The VIX jumped 27% as fear spiked. The spike in o
Nasdaq Drops 2.7%
Oil prices sent airline stocks sharply lower, as United Airlines fell 9.2% and Delta Airlines fell 6.6%.
Walmart lost 3.1% after reporting a 7th straight quarter of sales decreases. Barnes and Noble shares plunged 14.4% after suspending its dividend. Netflix sank 5.9% after Amazon announced a new streaming tv service that will be free for Amazon Prime members.
Treasuries and Commodities
Bond prices jumped as investors fled to safety. The 10-year note rose 1 2/32, to yield 3.46%, and 30-year notes rose 1 9/32 to yield 4.6%.
Oil extended its gains, climbing to 94.06, up more than 9% since Friday.
Precious metals dropped, with palladium leading the declines, dropping 6%. To 805.45. Silver slid $1 to 32.86, and gold dipped $7 to 1400.
Agricultural futures tumbled, as the selloff spread. Wheat plummeted 7.3%, soybeans dropped 5.1%, and cotton fell 4.6%.
Currencies
Despite the negative tone in equities and commodities, the currency markets moved moderately. The dollar was mixed, rising .6% against the Pound, .7% vs. the Canadian Dollar and 1% against the Australian Dollar.
The yen rose .5% and the Swiss Franc spiked .9% to .9386.
The Euro ended down .2%, recovering from a 150 pip loss earlier in the day.
Economic Outlook
The spreading political unrest in the Middle East will remain a driving force for the market, particularly as it impacts oil supplies and prices. A sharp rise in oil could threaten the much-needed global economic recovery.
Consumer confidence climbed to a 3-year high, exceeding analyst estimates. Home prices dropped 1.2% according to the Case-Shiller Home Price Index.
Wednesday’s reports will include Existing Home Sales, and weekly mortgage applications.
Earnings are due from Limited Brands, Priceline.com, Lowes, and TJ Maxx.