SamTrader1
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Equities
News of a second bailout deal for Greece boosted Asian stocks on Friday, with most of the major indexes gaining at least 1%. The Nikkei and Kospi both rose 1.2%, to 10132, and the ASX 200 advanced 1%. Hong Kong’s, Hang Seng, surged 2.1%, while the Shanghai Composite lagged behind, inching up .2%.
Hang Seng Bounces 2% but remains in Downtrend
European markets rose, with the FTSE up .6%, the DAX gaining .5% and the CAC40 closing .7% higher. Oil-related stocks led the advance, as oil prices head back to the $100+ region.
Caterpillar reported weak earnings, which sent the company’s share down 5.8%, weighing on the Dow Jones Industrial Average. The Dow dropped 43 points to 12681, the S&P 500 rose .1%, while the Nasdaq rallied .9%.
Treasuries and Commodities
Treasuries gained, even as debt ceiling uncertainty continues. 10-year notes climbed 14/32 to yield 2.95%, and 30-year notes advanced 29/32 to yield 4.26%.
Crude oil rose .8% to 99.87, after trading as high as 100.19, and gasoline futures rallied 1% to 3.1301.
Gold climbed 14.50 to 1601.50, silver jumped 3% to 40.112, and copper rose .6% to 4.41.
Softs rallied, with sugar up 5%, wheat up 2.2% and corn gaining 1.9%.
Currencies
The Dollar closed mostly higher against major world currencies, following Thursday’s rout. The Euro slipped .4% to 1.4362, and the Pound eased .2% to 1.6289. Amongst safe-haven bets, the Yen rose .2%, while the Swiss Franc fell .2%. The Australian Dollar inched up .1% to 1.0852.
Economic Outlook
The August 2nd deadline for a debt deal is rapidly approaching, and concerns are growing that a deal will not be reached in time. A default by the US is likely to have a disastrous effect on financial markets across the globe.
Monday’s earnings reports will include Netflix, Broadcom, and Texas Instruments.
Binary Options Trading analysis written by Bradley Welcher.
To read the Weekly fundamental analysis click here
Equities
News of a second bailout deal for Greece boosted Asian stocks on Friday, with most of the major indexes gaining at least 1%. The Nikkei and Kospi both rose 1.2%, to 10132, and the ASX 200 advanced 1%. Hong Kong’s, Hang Seng, surged 2.1%, while the Shanghai Composite lagged behind, inching up .2%.
Hang Seng Bounces 2% but remains in Downtrend
European markets rose, with the FTSE up .6%, the DAX gaining .5% and the CAC40 closing .7% higher. Oil-related stocks led the advance, as oil prices head back to the $100+ region.
Caterpillar reported weak earnings, which sent the company’s share down 5.8%, weighing on the Dow Jones Industrial Average. The Dow dropped 43 points to 12681, the S&P 500 rose .1%, while the Nasdaq rallied .9%.
Treasuries and Commodities
Treasuries gained, even as debt ceiling uncertainty continues. 10-year notes climbed 14/32 to yield 2.95%, and 30-year notes advanced 29/32 to yield 4.26%.
Crude oil rose .8% to 99.87, after trading as high as 100.19, and gasoline futures rallied 1% to 3.1301.
Gold climbed 14.50 to 1601.50, silver jumped 3% to 40.112, and copper rose .6% to 4.41.
Softs rallied, with sugar up 5%, wheat up 2.2% and corn gaining 1.9%.
Currencies
The Dollar closed mostly higher against major world currencies, following Thursday’s rout. The Euro slipped .4% to 1.4362, and the Pound eased .2% to 1.6289. Amongst safe-haven bets, the Yen rose .2%, while the Swiss Franc fell .2%. The Australian Dollar inched up .1% to 1.0852.
Economic Outlook
The August 2nd deadline for a debt deal is rapidly approaching, and concerns are growing that a deal will not be reached in time. A default by the US is likely to have a disastrous effect on financial markets across the globe.
Monday’s earnings reports will include Netflix, Broadcom, and Texas Instruments.
Binary Options Trading analysis written by Bradley Welcher.