SamTrader1
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Stocks crept up slightly for the week amid wild daily swings, including Friday as the markets climbed back in the final minutes of the session to pare losses for the day nearly in half. The DJIA fell 88.32 points to close at 12,169.88, after dropping nearly 180 points earlier. For the week, the Dow rose 39.43 points. The S&P 500 fell 9.82 points, or 0.74 percent, to close at 1,321.15. For the week, the S&P 500 rose 1.27 points. The NASDAQ fell 14.07 points, or 0.50 percent, to close 2,784.67. For the week, the NASDAQ gained 3.62 points or 0.13 percent.
Dow Jones Industrial Average (Feb. 28-March 5)
FOREX
The EURO finished the week higher against major counterparts, boosted by a dramatic improvement in European yield forecasts and broad USD weakness. European Central Bank President Jean Claude Trichet surprised markets with unusually strong language that the bank would raise interest rates at their upcoming meeting. Overnight Index Swaps now price in a 100 percent probability of a 25bp interest rate hike as Trichet said the ECB remained “strongly vigilant” on price pressures, a phrase that served to warn markets of an imminent rate increase through the bank’s last tightening cycle. Strong upward momentum leaves the Euro/US Dollar positioned for further gains.
EUR-USD (Feb. 28-March 5)
Commodities
With continued fighting in Libya oil futures soared to their highest intraday price in nearly 2-1/2 years. Brent crude [ rose 3.4 percent this week to close at $115.97 on news of protests in Saudi Arabia’s oil producing Eastern Province. US light, sweet crude jumped nearly 7 percent this week to close at $104.43 a barrel, levels not seen since September 2008.
(Crude Oil Feb. 28-March 5)
Equities
Pfizer was the best Dow performer for the week, rising 4.2 percent, while JPMorgan was the worst, falling 2.5 percent. Agilent Technologies was the best performer on the broad market index, rising 10.4 percent, while Hudson City Bancorp was the worst, falling 13.2 percent.
by BinaryOptionStrategy.com
Stocks crept up slightly for the week amid wild daily swings, including Friday as the markets climbed back in the final minutes of the session to pare losses for the day nearly in half. The DJIA fell 88.32 points to close at 12,169.88, after dropping nearly 180 points earlier. For the week, the Dow rose 39.43 points. The S&P 500 fell 9.82 points, or 0.74 percent, to close at 1,321.15. For the week, the S&P 500 rose 1.27 points. The NASDAQ fell 14.07 points, or 0.50 percent, to close 2,784.67. For the week, the NASDAQ gained 3.62 points or 0.13 percent.
Dow Jones Industrial Average (Feb. 28-March 5)
FOREX
The EURO finished the week higher against major counterparts, boosted by a dramatic improvement in European yield forecasts and broad USD weakness. European Central Bank President Jean Claude Trichet surprised markets with unusually strong language that the bank would raise interest rates at their upcoming meeting. Overnight Index Swaps now price in a 100 percent probability of a 25bp interest rate hike as Trichet said the ECB remained “strongly vigilant” on price pressures, a phrase that served to warn markets of an imminent rate increase through the bank’s last tightening cycle. Strong upward momentum leaves the Euro/US Dollar positioned for further gains.
EUR-USD (Feb. 28-March 5)
Commodities
With continued fighting in Libya oil futures soared to their highest intraday price in nearly 2-1/2 years. Brent crude [ rose 3.4 percent this week to close at $115.97 on news of protests in Saudi Arabia’s oil producing Eastern Province. US light, sweet crude jumped nearly 7 percent this week to close at $104.43 a barrel, levels not seen since September 2008.
(Crude Oil Feb. 28-March 5)
Equities
Pfizer was the best Dow performer for the week, rising 4.2 percent, while JPMorgan was the worst, falling 2.5 percent. Agilent Technologies was the best performer on the broad market index, rising 10.4 percent, while Hudson City Bancorp was the worst, falling 13.2 percent.
by BinaryOptionStrategy.com