SamTrader1
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EquitiesIn Asia, the Nikkei rose .4% to 10636, while the Kospi slipped .6% and the Hang Seng eased .3%. China’s markets remain closed for the Lunar New Year holiday, which ends today.
China’s central bank raised interest rates on concerns about inflation.
European markets rose, with the FTSE climbing .7% to 6091, and the Dax rising .5% to 7323.
Similar gains were achieved in the US. The Dow rose .6% to 12233, while the Nasdaq and S&P both rose .4%. This was the 7th straight gain for the Dow.
Toyota reported a steep 47.6% drop in profit, but raised its forecast, sending shares 4% higher.
Shares in Tesla, a maker of electric cars, jumped 6.2% on a Senate proposal for an electric car tax rebate.
Treasuries and CommoditiesAn auction for 3 year-notes was warmly received, with a bid-to-cover ratio of 3.01 and a high yield of 1.349%. An auction for 10-year notes wil take place on Wednesday.
Treasuries traded lower, as new calls came for raising US interest rates and stemming QE2. 10-year notes dropped 24/32 to yield 3.73%, while 30-year notes closed down 30/32, yielding 4.76%.
Oil slipped .44 to 87.04, and natural gas fell 1.9%, while gasoline rallied 1.9%.
Metals rallied, with silver leading the way, surging 3.2% to 30.27. Gold gained 1.2%, and Palladium jumped 2.4%. Copper, sitting at record highs, ended flat.
Silver Jumps 3.2%
CurrenciesMajor currencies ended mixed against the dollar. Among the gainers, the euro rose .4% to 1.3633, and the Australian dollar ticked up .2% to 1.0152. On the losing side, the Pound eased .2%, the Canadian dollar fell .4%, and the Swiss Franc dropped .7%. The yen closed flat.
Economic OutlookThe NFIB small business index, showed confidence climbing to a 3-year high.
Wednesday’s reports will include weekly mortgage applications, oil inventories. Bernanke will be speaking to the House of Representatives.
Earnings are due from Coca Cola, Cisco, Metlife, and Whole Foods.
EquitiesIn Asia, the Nikkei rose .4% to 10636, while the Kospi slipped .6% and the Hang Seng eased .3%. China’s markets remain closed for the Lunar New Year holiday, which ends today.
China’s central bank raised interest rates on concerns about inflation.
European markets rose, with the FTSE climbing .7% to 6091, and the Dax rising .5% to 7323.
Similar gains were achieved in the US. The Dow rose .6% to 12233, while the Nasdaq and S&P both rose .4%. This was the 7th straight gain for the Dow.
Toyota reported a steep 47.6% drop in profit, but raised its forecast, sending shares 4% higher.
Shares in Tesla, a maker of electric cars, jumped 6.2% on a Senate proposal for an electric car tax rebate.
Treasuries and CommoditiesAn auction for 3 year-notes was warmly received, with a bid-to-cover ratio of 3.01 and a high yield of 1.349%. An auction for 10-year notes wil take place on Wednesday.
Treasuries traded lower, as new calls came for raising US interest rates and stemming QE2. 10-year notes dropped 24/32 to yield 3.73%, while 30-year notes closed down 30/32, yielding 4.76%.
Oil slipped .44 to 87.04, and natural gas fell 1.9%, while gasoline rallied 1.9%.
Metals rallied, with silver leading the way, surging 3.2% to 30.27. Gold gained 1.2%, and Palladium jumped 2.4%. Copper, sitting at record highs, ended flat.
Silver Jumps 3.2%
CurrenciesMajor currencies ended mixed against the dollar. Among the gainers, the euro rose .4% to 1.3633, and the Australian dollar ticked up .2% to 1.0152. On the losing side, the Pound eased .2%, the Canadian dollar fell .4%, and the Swiss Franc dropped .7%. The yen closed flat.
Economic OutlookThe NFIB small business index, showed confidence climbing to a 3-year high.
Wednesday’s reports will include weekly mortgage applications, oil inventories. Bernanke will be speaking to the House of Representatives.
Earnings are due from Coca Cola, Cisco, Metlife, and Whole Foods.