SamTrader1
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Equities
The Nikkei pushed up 64 points to 10589 as Asian markets rose modestly. The Hang Seng rose .4% and the Shanghai Composite inched up .1%.
In Europe, selling continued, as the FTSE dropped .6% and the DAX fell .5%. Miners led the declines, as metal prices dropped.
US indices ended mixed as the Dow closed flat, while the Nasdaq fell .5%.
Finisar, a fiber optic company, tumbled 38.5% on a weak forecast, which prompted multiple analyst downgrades. Competitor JDS Uniphase sank 17%, as the news weighed on the sector.
Children’s Place shares jumped 10% on solid margins. IBM shares gained 2.2% on several upgrades.
Treasuries and CommoditiesBonds moved higher, as 10-year notes rose 22/32 to yield 3.47%, and 30-year notes gained a full point, to yield 4.6%. A $21 billion auction of 10-year notes had a high yield of 3.499% and a strong bit-to-cover ratio of 3.32. An auction for 30-year notes is scheduled for Thursday.
Oil prices slid $1 to 103.99, as news of blazing oil fields in Libya was outweighed by rising oil inventories. Brent crude rose 2.4% to 115.82, and gasoline similarly added 2.4%.
Crude Oil Reverses to End Lower
Gold inched up .2%, while silver rallied 1.3%, continuing to outperform its yellow peer. Copper dropped 3.2%, closing at 4.2005.
Currencies
Wednesday was another calm day in the currency markets, as key pairs continued to move in narrow ranges. The Euro, Yen, and Australian Dollar ended flat, while the Swiss Franc rose .6% to .9296, and the Canadian Dollar edged up .2%.
Economic OutlookWeekly mortgage applications rose to their highest level in 3 months, and wholesale inventories rose 1.1%, more than expected.
The Bank of England will issue its interest rate decision on Thursday, and reports on International Trade, weekly jobless claims, and Money Supply are due.
The Nikkei pushed up 64 points to 10589 as Asian markets rose modestly. The Hang Seng rose .4% and the Shanghai Composite inched up .1%.
In Europe, selling continued, as the FTSE dropped .6% and the DAX fell .5%. Miners led the declines, as metal prices dropped.
US indices ended mixed as the Dow closed flat, while the Nasdaq fell .5%.
Finisar, a fiber optic company, tumbled 38.5% on a weak forecast, which prompted multiple analyst downgrades. Competitor JDS Uniphase sank 17%, as the news weighed on the sector.
Children’s Place shares jumped 10% on solid margins. IBM shares gained 2.2% on several upgrades.
Treasuries and CommoditiesBonds moved higher, as 10-year notes rose 22/32 to yield 3.47%, and 30-year notes gained a full point, to yield 4.6%. A $21 billion auction of 10-year notes had a high yield of 3.499% and a strong bit-to-cover ratio of 3.32. An auction for 30-year notes is scheduled for Thursday.
Oil prices slid $1 to 103.99, as news of blazing oil fields in Libya was outweighed by rising oil inventories. Brent crude rose 2.4% to 115.82, and gasoline similarly added 2.4%.
Crude Oil Reverses to End Lower
Gold inched up .2%, while silver rallied 1.3%, continuing to outperform its yellow peer. Copper dropped 3.2%, closing at 4.2005.
Currencies
Wednesday was another calm day in the currency markets, as key pairs continued to move in narrow ranges. The Euro, Yen, and Australian Dollar ended flat, while the Swiss Franc rose .6% to .9296, and the Canadian Dollar edged up .2%.
Economic OutlookWeekly mortgage applications rose to their highest level in 3 months, and wholesale inventories rose 1.1%, more than expected.
The Bank of England will issue its interest rate decision on Thursday, and reports on International Trade, weekly jobless claims, and Money Supply are due.