SamTrader1
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By, http://www.BinaryOptionStrategy.com
Equities
Asian markets closed lower, after China’s central bank raised interest rates on Tuesday. The Hang Seng fell 1.4%, and the Nikkei slipped 18 points to 10718. China’s markets reopened after the week long Lunar New Year holiday, and the Shanghai Composite dropped .9%. Bucking the trend, Australia’s ASX 200 rose .3% to 4905.
The weakness spread to Europe, where the FTSE sank .6% to 6052, and the CAC40 edged .4% lower. Materials stocks led the declines, with the Stoxx Europe 600 Basic Resources dropping 1.9%
Although down most of the day, the Dow managed to close 7 points higher, rallying in the last hours of the session. This extends the Dow’s winning streak to 8 straight sessions. The Nasdaq and S&P both finished .3% lower, but well off their lows.
Late Afternoon Rally Extends Dow's Winning Streak to 8Bernanke told the House of Representatives that high unemployment remains a concern, even as the economy recovers.
Disney shares rallied 5.3%, and Polo Raplh Lauren surged 8.3% after beating earnings forecasts.
NYSE Euronext rocketed 14% higher on news of merger talks with Deutsche Boerse.
Treasuries and Commodities
An auction of 10-year notes has a strong bid-to-cover ratio of 3.23 and a high yield of 3.665%.
Bonds rose, as Bernanke’s comments suggested interest rate hikes are not on the horizon. The 10-year note rose 20/32 to yield 3.66% and the 30-year note gained 26/32 to yield 4.71%.
Oil ended flat, while gasoline futures rallied 1.5%, and natural gas gained .8%. Brent Crude jumped 2.1% to 102.59.
Gold closed fractionally higher, while silver gave back .6% slipping to 30.10 after yesterday’s rally. Copper fell 1.1% to 4.52.
Softs rallied, with sugar up 2% and cotton rising 2.3%.
Currencies
Although flat most of the day, the dollar slumped in the mid-afternoon of the US session, in response to Bernanke’s speech. The euro rallied .8% to 1.3733, and the Swiss Franc bounced .6% to .9578.
The Canadian dollar rose .1% to .9940, while the Australian dollar declined .5% to 1.0097.
Economic Outlook
Weekly mortgagae applications slipped, as rising interes rates reduce the appeal of refinancing.
Thursday’s reports will include weekly jobless claims, and Wholesale Trade. The treasury will auction 30-year bonds, and earnings are due from Pepsico, Phillip Morris, Sprint, and Kraft.
Equities
Asian markets closed lower, after China’s central bank raised interest rates on Tuesday. The Hang Seng fell 1.4%, and the Nikkei slipped 18 points to 10718. China’s markets reopened after the week long Lunar New Year holiday, and the Shanghai Composite dropped .9%. Bucking the trend, Australia’s ASX 200 rose .3% to 4905.
The weakness spread to Europe, where the FTSE sank .6% to 6052, and the CAC40 edged .4% lower. Materials stocks led the declines, with the Stoxx Europe 600 Basic Resources dropping 1.9%
Although down most of the day, the Dow managed to close 7 points higher, rallying in the last hours of the session. This extends the Dow’s winning streak to 8 straight sessions. The Nasdaq and S&P both finished .3% lower, but well off their lows.
Late Afternoon Rally Extends Dow's Winning Streak to 8Bernanke told the House of Representatives that high unemployment remains a concern, even as the economy recovers.
Disney shares rallied 5.3%, and Polo Raplh Lauren surged 8.3% after beating earnings forecasts.
NYSE Euronext rocketed 14% higher on news of merger talks with Deutsche Boerse.
Treasuries and Commodities
An auction of 10-year notes has a strong bid-to-cover ratio of 3.23 and a high yield of 3.665%.
Bonds rose, as Bernanke’s comments suggested interest rate hikes are not on the horizon. The 10-year note rose 20/32 to yield 3.66% and the 30-year note gained 26/32 to yield 4.71%.
Oil ended flat, while gasoline futures rallied 1.5%, and natural gas gained .8%. Brent Crude jumped 2.1% to 102.59.
Gold closed fractionally higher, while silver gave back .6% slipping to 30.10 after yesterday’s rally. Copper fell 1.1% to 4.52.
Softs rallied, with sugar up 2% and cotton rising 2.3%.
Currencies
Although flat most of the day, the dollar slumped in the mid-afternoon of the US session, in response to Bernanke’s speech. The euro rallied .8% to 1.3733, and the Swiss Franc bounced .6% to .9578.
The Canadian dollar rose .1% to .9940, while the Australian dollar declined .5% to 1.0097.
Economic Outlook
Weekly mortgagae applications slipped, as rising interes rates reduce the appeal of refinancing.
Thursday’s reports will include weekly jobless claims, and Wholesale Trade. The treasury will auction 30-year bonds, and earnings are due from Pepsico, Phillip Morris, Sprint, and Kraft.
