SamTrader1
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By, http://www.BinaryOptionStrategy.com
Equities
Asian markets continued their slide on Wednesday, although the losses were moderate. The Nikkei ended.8% lower, and the Kospi and Hang Seng slid .4%. China’s Shanghai Composite managed a slight .3% gain.
European markets fell, with the FTSE sinking 1% and the Dax tumbling 1.5%. The Austrian oil group OMV warned it may need to shut down its Libyan operations, sending shares down more than 5%.
In the US, the Dow fell 107 points, and the Nasdaq closed down 1.2%. HP tumbled 9.6% after cutting its revenue forecasts for the year.
Home builder Toll Brothers reported a profit sending shares 2% higher, and shares in apparel retailer Chico jumped 9% on a strong forecast for 2011.
Treasuries and Commodities
Bonds ended mixed as 10 year notes slipped 5/32 to yield 3.48%, while 10-year notes rose 10/32 to yield 4.58%. The rise in oil prices is likely to encourage inflation, limiting the appeal of safe haven bonds.
An auction of 5-year bonds drew a bid-to-cover ratio of 2.69, and a high yield of 2.19%.
Crude oil climbed another 3% to 98.29, and briefly touched the $!00 mark. Brent crude gained 5.8%, as European oil supplies are more directly tied to Libya.
Oil Rally Continues, Hitting $100
Gold ended up .7% at 1410.70, while silver which continues to outperform other precious metals, rallied 1.9% to 33.475. Copper dropped .7%.
Softs ended mixed, as sugar sank another 3.3%, while soybeans and corn rallied 1.7%.
Currencies
The dollar slid across the board, as rising oil prices heavily impact the dollar’s appeal. The Euro rose .7% to 1.3747, and the Pound gained .4% to 1.6208. The Swiss Franc reached .9308 before slipping back to .9334, a gain of .5%, and the Yen rose .4% to 82.49.
Economic Outlook
Weekly mortgage applications rose, thanks to lower interest rates. Existing home sales exceeded analyst estimates (5.36M vs. 5.27M).
Minutes released from the Bank of England’s latest meeting revealed that more board members are inclined to raise interest rates.
Thursday’s reports will include Durable Goods Orders, weekly jobless claims, and Money Supply.
Earnings are due from GM, Kohl’s, Sears, Gap, AIG and Target.
Equities
Asian markets continued their slide on Wednesday, although the losses were moderate. The Nikkei ended.8% lower, and the Kospi and Hang Seng slid .4%. China’s Shanghai Composite managed a slight .3% gain.
European markets fell, with the FTSE sinking 1% and the Dax tumbling 1.5%. The Austrian oil group OMV warned it may need to shut down its Libyan operations, sending shares down more than 5%.
In the US, the Dow fell 107 points, and the Nasdaq closed down 1.2%. HP tumbled 9.6% after cutting its revenue forecasts for the year.
Home builder Toll Brothers reported a profit sending shares 2% higher, and shares in apparel retailer Chico jumped 9% on a strong forecast for 2011.
Treasuries and Commodities
Bonds ended mixed as 10 year notes slipped 5/32 to yield 3.48%, while 10-year notes rose 10/32 to yield 4.58%. The rise in oil prices is likely to encourage inflation, limiting the appeal of safe haven bonds.
An auction of 5-year bonds drew a bid-to-cover ratio of 2.69, and a high yield of 2.19%.
Crude oil climbed another 3% to 98.29, and briefly touched the $!00 mark. Brent crude gained 5.8%, as European oil supplies are more directly tied to Libya.
Oil Rally Continues, Hitting $100
Gold ended up .7% at 1410.70, while silver which continues to outperform other precious metals, rallied 1.9% to 33.475. Copper dropped .7%.
Softs ended mixed, as sugar sank another 3.3%, while soybeans and corn rallied 1.7%.
Currencies
The dollar slid across the board, as rising oil prices heavily impact the dollar’s appeal. The Euro rose .7% to 1.3747, and the Pound gained .4% to 1.6208. The Swiss Franc reached .9308 before slipping back to .9334, a gain of .5%, and the Yen rose .4% to 82.49.
Economic Outlook
Weekly mortgage applications rose, thanks to lower interest rates. Existing home sales exceeded analyst estimates (5.36M vs. 5.27M).
Minutes released from the Bank of England’s latest meeting revealed that more board members are inclined to raise interest rates.
Thursday’s reports will include Durable Goods Orders, weekly jobless claims, and Money Supply.
Earnings are due from GM, Kohl’s, Sears, Gap, AIG and Target.