SamTrader1
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Markets
Stocks gave back some gains in the final hour of trading another session of quiet trading despite unrest in the Middle East and Libya, debt troubles in Europe, and mixed economic news in the U.S.
The Dow Jones rose more than 35 points after rising 84 points on Thursday. At current levels, the Dow is just below the level where it would be in positive territory for the month.
The S&P 500 and the Nasdaq also advanced. All 3 major indexes looked ready to end the week in positive territory after 2 straight weeks of declines
DJIA (March 21-25)
FOREX
Interest rate hike expectations remain the main force behind the Sterling’s price action. It is evident in the steadily strong correlation between Cable and the UK-US December 2011 interest rate futures spread, which is the reflection of traders’ outlook on where relative borrowing costs will be by the end of the year. This appears to open the door for a move lower as last week’s disappointing news flow continues to filter into the exchange rate with almost no stabalizing factors on the upcoming calendar. With that in mind, renewed stress on the Euro Zone periphery in the aftermath of the March 24-25 EU summit may underpin demand for the Pound as a regional alternative amid an exodus from the single currency.
Cable (March 21-25)
COMMODITIES
Oil prices traded flat on Friday despite planned protests in Bahrain and news that Syrian troops nurdered protesters, also the news of the military campaign continuing against Libya. Crude fell to below $106 a barrel, while London Brent crude rose above $115 a barrel
OIL (March 21-25)
EQUITIES
IBM [IBM 162.18 2.14 (+1.34%)] and Chevron [CVX 106.78 1.40 (+1.33%)] gained, while Hewlett-Packard [HPQ 42.53 -0.57 (-1.32%)] fell on the DJIA. JPMorgan [JPM 45.86 0.13 (+0.28%) ], Wells Fargo [WFC 31.94 0.40 (+1.27%)] and Citigroup [C 4.46 0.03 (+0.68%)], which all announced dividend increases, traded higher.
By, BinaryOptionStrategy.com
Stocks gave back some gains in the final hour of trading another session of quiet trading despite unrest in the Middle East and Libya, debt troubles in Europe, and mixed economic news in the U.S.
The Dow Jones rose more than 35 points after rising 84 points on Thursday. At current levels, the Dow is just below the level where it would be in positive territory for the month.
The S&P 500 and the Nasdaq also advanced. All 3 major indexes looked ready to end the week in positive territory after 2 straight weeks of declines
DJIA (March 21-25)
FOREX
Interest rate hike expectations remain the main force behind the Sterling’s price action. It is evident in the steadily strong correlation between Cable and the UK-US December 2011 interest rate futures spread, which is the reflection of traders’ outlook on where relative borrowing costs will be by the end of the year. This appears to open the door for a move lower as last week’s disappointing news flow continues to filter into the exchange rate with almost no stabalizing factors on the upcoming calendar. With that in mind, renewed stress on the Euro Zone periphery in the aftermath of the March 24-25 EU summit may underpin demand for the Pound as a regional alternative amid an exodus from the single currency.
Cable (March 21-25)
COMMODITIES
Oil prices traded flat on Friday despite planned protests in Bahrain and news that Syrian troops nurdered protesters, also the news of the military campaign continuing against Libya. Crude fell to below $106 a barrel, while London Brent crude rose above $115 a barrel
OIL (March 21-25)
EQUITIES
IBM [IBM 162.18 2.14 (+1.34%)] and Chevron [CVX 106.78 1.40 (+1.33%)] gained, while Hewlett-Packard [HPQ 42.53 -0.57 (-1.32%)] fell on the DJIA. JPMorgan [JPM 45.86 0.13 (+0.28%) ], Wells Fargo [WFC 31.94 0.40 (+1.27%)] and Citigroup [C 4.46 0.03 (+0.68%)], which all announced dividend increases, traded higher.
By, BinaryOptionStrategy.com