SamTrader1
Active member
- Messages
- 164
- Likes
- 0
By BinaryOptionStrategy.com
Equities
Markets in Asia closed mostly higher, as the Kospi jumped 1.3%, led higher by LG which surged 7.1%. The ASX 200 gained 1.2%, and the Nikkei advanced .5%. Markets in China fell as the Shanghai Composite eased .3% and the Hang Seng fell .2%.
Inflation data in China showed a slight easing in price rises, as prices rose 5.3% from a year earlier, less than March’s 5.4% increase. Nonetheless, the data was higher than expected.
European markets initially rose, but reversed after US markets turned lower. The FTSE fell .7%, and the DAX eased .1%. The CAC40 rose .1%, as shares in Hermes, a luxury goods company, rallied 3.3% on strong earnings.
The Dow fell 130 points and the S&P dropped 1.1%, as commodities once again tumbled.
Macy’s rose 7.7% after beating analyst estimates, while Disney dropped 5.4% after missing analyst estimates.
Treasuries and Commodities
Bonds rose as equities and commodities fell. The benchmark 10-year note gained 14/32 to yield 3.16% and the 30-year note rose 22/32 to yield 4.31%. A $24 billion auction of 10-year notes had a bid-to-cover ratio of 3 and a high yield of 3.21%.
Energy trading was briefly halted by NYMEX after gasoline prices fell 25 cents, triggering circuit breakers. Gasoline futures closed down 7.2% at 3.1367. A report on gasoline inventories showed a surprise rise in supplies, indicating consumers are limiting consumption due to high prices. US crude fell 4.90 to 98.98, crossing back below $100.
Gasoline Futures Plummet
Metals were under pressure, as silver tumbled 8.2% to 35.33, and copper plummeted 3.3%. Gold settled down 10.80 at 1506.10.
Agricultural futures posted wide losses, as wheat fell 5%, while corn and sugar fell more than 4% each.
Currencies
The dollar rallied as commodities fell. The Euro tumbled more than 2 cents to 1.4203, and the Australian dollar dropped 1.4% to 1.0692. The Swiss Franc shed .8% and the Yen lost .2%.
Economic Outlook
The US trade gap rose to $48.1 billion in March, more than expected, and well above February’s $45.4 billion. Mortgage application rose 8.2%, thanks to a significant drop in interest rates over the past few weeks.
Thursday’s reports will include PPI, Retails Sales, Business Inventories, and weekly jobless claims.
Equities
Markets in Asia closed mostly higher, as the Kospi jumped 1.3%, led higher by LG which surged 7.1%. The ASX 200 gained 1.2%, and the Nikkei advanced .5%. Markets in China fell as the Shanghai Composite eased .3% and the Hang Seng fell .2%.
Inflation data in China showed a slight easing in price rises, as prices rose 5.3% from a year earlier, less than March’s 5.4% increase. Nonetheless, the data was higher than expected.
European markets initially rose, but reversed after US markets turned lower. The FTSE fell .7%, and the DAX eased .1%. The CAC40 rose .1%, as shares in Hermes, a luxury goods company, rallied 3.3% on strong earnings.
The Dow fell 130 points and the S&P dropped 1.1%, as commodities once again tumbled.
Macy’s rose 7.7% after beating analyst estimates, while Disney dropped 5.4% after missing analyst estimates.
Treasuries and Commodities
Bonds rose as equities and commodities fell. The benchmark 10-year note gained 14/32 to yield 3.16% and the 30-year note rose 22/32 to yield 4.31%. A $24 billion auction of 10-year notes had a bid-to-cover ratio of 3 and a high yield of 3.21%.
Energy trading was briefly halted by NYMEX after gasoline prices fell 25 cents, triggering circuit breakers. Gasoline futures closed down 7.2% at 3.1367. A report on gasoline inventories showed a surprise rise in supplies, indicating consumers are limiting consumption due to high prices. US crude fell 4.90 to 98.98, crossing back below $100.
Gasoline Futures Plummet
Metals were under pressure, as silver tumbled 8.2% to 35.33, and copper plummeted 3.3%. Gold settled down 10.80 at 1506.10.
Agricultural futures posted wide losses, as wheat fell 5%, while corn and sugar fell more than 4% each.
Currencies
The dollar rallied as commodities fell. The Euro tumbled more than 2 cents to 1.4203, and the Australian dollar dropped 1.4% to 1.0692. The Swiss Franc shed .8% and the Yen lost .2%.
Economic Outlook
The US trade gap rose to $48.1 billion in March, more than expected, and well above February’s $45.4 billion. Mortgage application rose 8.2%, thanks to a significant drop in interest rates over the past few weeks.
Thursday’s reports will include PPI, Retails Sales, Business Inventories, and weekly jobless claims.