SamTrader1
Active member
- Messages
- 164
- Likes
- 0
By, BinaryOptionStrategy.com
Equities
Asian markets fell for a second day, with the Shanghai Composite leading the declines, tumbling 2.3%. The Hang Seng sank 1.4%, and the Korean Kospi and the Australian ASX 200 both dropped .9%. Oil resource stocks and miners led the declines as commodities sold off. Japanese markets remained closed for a holiday.
European markets fell steeply, with the FTSE falling 1.6% and the DAX down 1.7%. Materials stocks led the declines, with the sector dropping nearly 3%. Portugal reached a bailout agreement for 78 billion Euro with the ECB and IMF.
In the US, the markets slipped but were largely spared from the steep global selloff. The Dow fell 84 points to 12724, while the Nasdaq lost .5% and the S&P 500 fell .7%.
Conagra offered to buy Ralcorp Holdings, producer of Post Cereals for $4.9 billion. Conagra shares rose 3% and Ralcorp shares rallied 4.9%.
Anheuser-Busch shares fell 3.8% and Time Warner shares dropped 3.3%, even though both companies reported strong earnings. CBS shares jumped 7.8% on strong profits.
Treasuries and Commodities
Bonds rose modestly, with 10-year notes gaining 8/32 to yield 3.22%, and 30-year notes rising 16.32 to yield 4.32%.
Commodities extended their losses from Tuesday in a broad investor retreat. US crude fell 1.6% to 109.33, and natural gas declined 1.9% to 4.583.
Crude Falls Below $110
Metals fell steeply. Gold dropped 1.6% to 1516.40, and silver plunged another 7% to 39.59, down nearly $10 since Friday’s close. Copper closed down 2.8% at 4.12.
Agricultural futures closed broadly lower, as sugar, coffee, and cotton all fell more than 3%.
Currencies
The US dollar was mixed against the major currencies, as the Yen rose .5% to 80.59, while the Australian Dollar tumbled 1% to 1.0734. The Pound inched up .1%, while the Euro and Swiss Franc closed flat.
Economic Outlook
The ADP Employment Report showed the economy added 179K jobs, less than the 200K estimated by analysts. The report is seen as a indicator for Friday’s pivotal non-farm payroll report, the most-heavily watched economic report of the month
The ISM non-manufacturing index fell to 52.8, well below estimates of 57.4
Mortgage applications rose, thanks to lower interest rates.
Thursday’s reports will include weekly jobless claims, Chain Store Sales, and Productivity. The ECB and Bank of England will issue their rate decisions, and are expected to hold rates at 1.25% and .5% respectively.
Earnings are due from GM, CVS, AIG, and Visa.
Equities
Asian markets fell for a second day, with the Shanghai Composite leading the declines, tumbling 2.3%. The Hang Seng sank 1.4%, and the Korean Kospi and the Australian ASX 200 both dropped .9%. Oil resource stocks and miners led the declines as commodities sold off. Japanese markets remained closed for a holiday.
European markets fell steeply, with the FTSE falling 1.6% and the DAX down 1.7%. Materials stocks led the declines, with the sector dropping nearly 3%. Portugal reached a bailout agreement for 78 billion Euro with the ECB and IMF.
In the US, the markets slipped but were largely spared from the steep global selloff. The Dow fell 84 points to 12724, while the Nasdaq lost .5% and the S&P 500 fell .7%.
Conagra offered to buy Ralcorp Holdings, producer of Post Cereals for $4.9 billion. Conagra shares rose 3% and Ralcorp shares rallied 4.9%.
Anheuser-Busch shares fell 3.8% and Time Warner shares dropped 3.3%, even though both companies reported strong earnings. CBS shares jumped 7.8% on strong profits.
Treasuries and Commodities
Bonds rose modestly, with 10-year notes gaining 8/32 to yield 3.22%, and 30-year notes rising 16.32 to yield 4.32%.
Commodities extended their losses from Tuesday in a broad investor retreat. US crude fell 1.6% to 109.33, and natural gas declined 1.9% to 4.583.
Crude Falls Below $110
Metals fell steeply. Gold dropped 1.6% to 1516.40, and silver plunged another 7% to 39.59, down nearly $10 since Friday’s close. Copper closed down 2.8% at 4.12.
Agricultural futures closed broadly lower, as sugar, coffee, and cotton all fell more than 3%.
Currencies
The US dollar was mixed against the major currencies, as the Yen rose .5% to 80.59, while the Australian Dollar tumbled 1% to 1.0734. The Pound inched up .1%, while the Euro and Swiss Franc closed flat.
Economic Outlook
The ADP Employment Report showed the economy added 179K jobs, less than the 200K estimated by analysts. The report is seen as a indicator for Friday’s pivotal non-farm payroll report, the most-heavily watched economic report of the month
The ISM non-manufacturing index fell to 52.8, well below estimates of 57.4
Mortgage applications rose, thanks to lower interest rates.
Thursday’s reports will include weekly jobless claims, Chain Store Sales, and Productivity. The ECB and Bank of England will issue their rate decisions, and are expected to hold rates at 1.25% and .5% respectively.
Earnings are due from GM, CVS, AIG, and Visa.