SamTrader1
Active member
- Messages
- 164
- Likes
- 0
By BinaryOptionStrategy.com
Equities
Asian markets ended mostly higher, as the immediate threat of a Greek default disappeared. The Nikkei rose .5% to 9868, despite an unimpressive business outlook report, and the Kospi jumped 1.2%, led by automakers. Australia’s ASX 200 slipped .4% to 4591, due to weaker than expected PMI data from China, although the Shanghai Composite only eased .1% on the news.
Renewed confidence, combined with solid economic data from the US helped boost European indexes, ending an 8-week losing streak. The FTSE gained .7% to 5990, while the CAC40 and DAX both rose .6%.
US markets rallied, with the Dow charging ahead 168 points to 12583. The Nasdaq gained 1.5% and the S&P 500 rose 1.4% to 1340. The major indexes all rose more than 5% this week, while the VIX dropped to 15.98.
Dow Rises 5.4% this Week
Ford and GM rose after they both reported an impressive increase in monthly sales.
Eastman Kodak plunged more than 14% after a court upheld a losing patent ruling related to digital cameras.
Treasuries and Commodities
The bond selloff continued, as a strong equity rally, combined with the end of the Fed’s easing, reduced the appeal of fixed income. 10-year notes dropped 6/32 to yield 3.18% and 30-year notes fell 10/32 to yield 4.39%
Crude oil closed down .5% to 94.94, and natural gas slumped 1.4% to 4.311, but gasoline closed up .1% at 2.9726.
Precious metals fell, as gold sank 1.3% to 1482.60, and silver declined 3.2% to 33.694. Copper gained .5%, despite the weak Chinese data.
Currencies
The Swiss Franc tumbled 1% against the dollar, dropping to .8499, as the appeal of safe-haven currencies dropped. The Yen also eased, dropping .2% to 80.74. Most other currencies gained against the dollar, led by the Australian Dollar and Canadian Dollar, which both rallied .6% to 1.0773 and .9585 respectively. The Euro and Pound rose a more moderate .2%.
Economic Outlook
The ISM’s Manufacturing PMI report rose more than expected, showing its first gain in 4 months. Consumer Sentiments was slightly below expectations at 71.5 vs. 72, and Construction Spending unexpectedly declined .6%.
US markets will be closed on Monday for Independence Day.
Equities
Asian markets ended mostly higher, as the immediate threat of a Greek default disappeared. The Nikkei rose .5% to 9868, despite an unimpressive business outlook report, and the Kospi jumped 1.2%, led by automakers. Australia’s ASX 200 slipped .4% to 4591, due to weaker than expected PMI data from China, although the Shanghai Composite only eased .1% on the news.
Renewed confidence, combined with solid economic data from the US helped boost European indexes, ending an 8-week losing streak. The FTSE gained .7% to 5990, while the CAC40 and DAX both rose .6%.
US markets rallied, with the Dow charging ahead 168 points to 12583. The Nasdaq gained 1.5% and the S&P 500 rose 1.4% to 1340. The major indexes all rose more than 5% this week, while the VIX dropped to 15.98.
Dow Rises 5.4% this Week
Ford and GM rose after they both reported an impressive increase in monthly sales.
Eastman Kodak plunged more than 14% after a court upheld a losing patent ruling related to digital cameras.
Treasuries and Commodities
The bond selloff continued, as a strong equity rally, combined with the end of the Fed’s easing, reduced the appeal of fixed income. 10-year notes dropped 6/32 to yield 3.18% and 30-year notes fell 10/32 to yield 4.39%
Crude oil closed down .5% to 94.94, and natural gas slumped 1.4% to 4.311, but gasoline closed up .1% at 2.9726.
Precious metals fell, as gold sank 1.3% to 1482.60, and silver declined 3.2% to 33.694. Copper gained .5%, despite the weak Chinese data.
Currencies
The Swiss Franc tumbled 1% against the dollar, dropping to .8499, as the appeal of safe-haven currencies dropped. The Yen also eased, dropping .2% to 80.74. Most other currencies gained against the dollar, led by the Australian Dollar and Canadian Dollar, which both rallied .6% to 1.0773 and .9585 respectively. The Euro and Pound rose a more moderate .2%.
Economic Outlook
The ISM’s Manufacturing PMI report rose more than expected, showing its first gain in 4 months. Consumer Sentiments was slightly below expectations at 71.5 vs. 72, and Construction Spending unexpectedly declined .6%.
US markets will be closed on Monday for Independence Day.