SamTrader1
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Equities
Asian markets ended mostly lower after trading in narrow ranges. The Nikkei dropped .6% to 9479, while the Hang Seng lost .4% and the ASX 200 eased .2%. Amongst the gainers, China’s Shanghai Composite rose .2% and the Kospi edged up .1%.
European indexes ended little changed, as the FTSE inched up 4 points to 5904 and the Dax ended down a mere .1%. TECB chairman, Trichet, once again raised concern about inflation in the Euro zone.
US stocks ended moderately lower, ending a 3-day wining streak. Stocks had been higher most of the day, but a selloff in the last hour pushed the major indexes lower. The Dow closed down 23 points to 12198, and the Nasdaq declined .5% to 2731.
Dow Reverses in Late Day Selloff
Alcatel-Lucent shares surged 8.8% on an upgrade by Goldman Sachs. The telecom sector rose in a series of upgrades including Nokia, AT&T and Verizon.
Treasuries and Commodities
US Treasuries ended flat, with the 10-year note yielding 3.44% and 30-year notes yielding 4.5%. German Treasuries continued their decline, with 10-year notes down .23 and 30 year notes down .39.
Commodities sold off almost universally. Crude Oil fell 1.5% to 103.83 as Gaddafi’s forces were pushed back by Libyan rebels, aided by NATO bombing operations. Gold slipped .4% to 1420.10 and copper slumped 1.7% to 4.3455. Silver rose a modest .2% to 37.105.
Agricultural futures sank, with cotton down 3.4%, sugar dropping 2.9% and corn declining 2.7%.
Currencies
The Euro rose slightly in response to Trichet’s remarks on expectations that the ECB will soon raise rates. The single-currency ended up .1% to 1.4088, while the Pound slipped .3%, closing just below below 1.60.
The Swiss Franc and Canadian Dollar both rose .5%, and the Australian dollar eased .2% to 1.0244 after tagging a new record high of 1.0307 earlier in the day.
Economic Outlook
Consumer Spending rose more than expected, posting its 8th straight month of gains.
The Pending Home Sales Index surprisingly gained 2.1%, whereas analysts had expected a decline of 1%.
Tuesday’s reports will include Consumer Confidence, and the Case-Shiller Home Price Index.
By, BinaryOptionStrategy.com
Asian markets ended mostly lower after trading in narrow ranges. The Nikkei dropped .6% to 9479, while the Hang Seng lost .4% and the ASX 200 eased .2%. Amongst the gainers, China’s Shanghai Composite rose .2% and the Kospi edged up .1%.
European indexes ended little changed, as the FTSE inched up 4 points to 5904 and the Dax ended down a mere .1%. TECB chairman, Trichet, once again raised concern about inflation in the Euro zone.
US stocks ended moderately lower, ending a 3-day wining streak. Stocks had been higher most of the day, but a selloff in the last hour pushed the major indexes lower. The Dow closed down 23 points to 12198, and the Nasdaq declined .5% to 2731.
Dow Reverses in Late Day Selloff
Alcatel-Lucent shares surged 8.8% on an upgrade by Goldman Sachs. The telecom sector rose in a series of upgrades including Nokia, AT&T and Verizon.
Treasuries and Commodities
US Treasuries ended flat, with the 10-year note yielding 3.44% and 30-year notes yielding 4.5%. German Treasuries continued their decline, with 10-year notes down .23 and 30 year notes down .39.
Commodities sold off almost universally. Crude Oil fell 1.5% to 103.83 as Gaddafi’s forces were pushed back by Libyan rebels, aided by NATO bombing operations. Gold slipped .4% to 1420.10 and copper slumped 1.7% to 4.3455. Silver rose a modest .2% to 37.105.
Agricultural futures sank, with cotton down 3.4%, sugar dropping 2.9% and corn declining 2.7%.
Currencies
The Euro rose slightly in response to Trichet’s remarks on expectations that the ECB will soon raise rates. The single-currency ended up .1% to 1.4088, while the Pound slipped .3%, closing just below below 1.60.
The Swiss Franc and Canadian Dollar both rose .5%, and the Australian dollar eased .2% to 1.0244 after tagging a new record high of 1.0307 earlier in the day.
Economic Outlook
Consumer Spending rose more than expected, posting its 8th straight month of gains.
The Pending Home Sales Index surprisingly gained 2.1%, whereas analysts had expected a decline of 1%.
Tuesday’s reports will include Consumer Confidence, and the Case-Shiller Home Price Index.
By, BinaryOptionStrategy.com