SamTrader1
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Equities
Asian market rallied strongly, led by the Nikkei’s impressive 2.6% advance to 9709. The yen’s drop below 83 was seen as an encouraging development for Japanese exporters. The Hang Seng gained 1.7%, and the ASX 200 rose 1.4%. Trailing behind, the Kospi added .4% while the Shanghai Composite eased .1%.
European markets rose unevenly, as the Dax jumped 1.8%, the CAC 40 climbed .9% and the FTSE rose just .3%.
In the US, the Dow rose 72 points to 12351, close to the multi-year high of 12391 hit in February. The Nasdaq and S&P both rose .7%.
by BinaryOptionStrategy.com
Salesforce.com jumped 5.6% after announcing plans to buy Radian6, and Blackrock surged 6.6% on news of a potential investment in Spanish bank, Bankia . AT&T shares roe 2.2%, now gaining for 5 straight sessions, as investors applaud the company’s planned purchase of T-Mobile.
Cephalon shares rocketed 28.4% higher after Valeant Pharmaceuticals made a hostile bid for the company.
Treasuries and Commodities
Bonds rose, even as equities rallied. 10-year notes gained 15/32 to yield 3.44% and 30-year notes rose 22/32 to yield 4.5%. A $29 billion auction of 7-year notes had a bid-to-cover ratio of 2.79 and a high yield of 2.895%.
Natural gas rose 2.9% after President Obama suggested increasing the use of natural gas to reduce oil imports. Oil slipped .5% to 104.30, and gasoline added .6% to 3.064.
Copper tumbled 2% to 4.26, while precious metals rallied. Gold rose .5%, silver gained 1.2% and platinum advanced 1.8%.
Copper Struggles to Advance
Currencies
The dollar fell moderately against most major currencies. The Euro inched up .1% to 1.4127, the Swiss Franc gained .2% and the Canadian dollar rose .3%. The Pound bounced .4% to 1.6076 crossing back above 1.60, and the Australian dollar rallied .4% to 1.0328 after hitting a new record high of 1.0337. The yen settled at 82.88 down .5%, after dropping to 83.19 earlier in the day.
Economic Outlook
The ADP employment report showed the economy adding 201,000 jobs in February, setting the tone for Friday’s heavily-watched non-farm payroll report. The numbers were consistent with estimates, and show that job growth is starting to take effect.
Weekly mortgage applications dropped 7.5%. Oil inventories rose by nearly 3 million barrels, and President Obama set a goal of cutting oil imports by a third.
Fighting continues to rage in Libya. Japans’ radiation situation remains out of control. European nations are on the edge of default. The ability of investors to push up the markets in the face of such opposition points to a very bullish outlook.
Asian market rallied strongly, led by the Nikkei’s impressive 2.6% advance to 9709. The yen’s drop below 83 was seen as an encouraging development for Japanese exporters. The Hang Seng gained 1.7%, and the ASX 200 rose 1.4%. Trailing behind, the Kospi added .4% while the Shanghai Composite eased .1%.
European markets rose unevenly, as the Dax jumped 1.8%, the CAC 40 climbed .9% and the FTSE rose just .3%.
In the US, the Dow rose 72 points to 12351, close to the multi-year high of 12391 hit in February. The Nasdaq and S&P both rose .7%.
by BinaryOptionStrategy.com
Salesforce.com jumped 5.6% after announcing plans to buy Radian6, and Blackrock surged 6.6% on news of a potential investment in Spanish bank, Bankia . AT&T shares roe 2.2%, now gaining for 5 straight sessions, as investors applaud the company’s planned purchase of T-Mobile.
Cephalon shares rocketed 28.4% higher after Valeant Pharmaceuticals made a hostile bid for the company.
Treasuries and Commodities
Bonds rose, even as equities rallied. 10-year notes gained 15/32 to yield 3.44% and 30-year notes rose 22/32 to yield 4.5%. A $29 billion auction of 7-year notes had a bid-to-cover ratio of 2.79 and a high yield of 2.895%.
Natural gas rose 2.9% after President Obama suggested increasing the use of natural gas to reduce oil imports. Oil slipped .5% to 104.30, and gasoline added .6% to 3.064.
Copper tumbled 2% to 4.26, while precious metals rallied. Gold rose .5%, silver gained 1.2% and platinum advanced 1.8%.
Copper Struggles to Advance
Currencies
The dollar fell moderately against most major currencies. The Euro inched up .1% to 1.4127, the Swiss Franc gained .2% and the Canadian dollar rose .3%. The Pound bounced .4% to 1.6076 crossing back above 1.60, and the Australian dollar rallied .4% to 1.0328 after hitting a new record high of 1.0337. The yen settled at 82.88 down .5%, after dropping to 83.19 earlier in the day.
Economic Outlook
The ADP employment report showed the economy adding 201,000 jobs in February, setting the tone for Friday’s heavily-watched non-farm payroll report. The numbers were consistent with estimates, and show that job growth is starting to take effect.
Weekly mortgage applications dropped 7.5%. Oil inventories rose by nearly 3 million barrels, and President Obama set a goal of cutting oil imports by a third.
Fighting continues to rage in Libya. Japans’ radiation situation remains out of control. European nations are on the edge of default. The ability of investors to push up the markets in the face of such opposition points to a very bullish outlook.