SamTrader1
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By, BinaryOptionStrategy.com
Markets
Stocks eased losses but remained lower amid concerns over European debt issues and a weak outlook among retailers reporting earnings.
The Dow Jones Industrial Average fell more than 60 points, after dropping more than 100 earlier. The blue-chip average rose Thursday in the face of weak economic news as investors rallied around LinkedIn’s initial public offering. The social networking site for professionals registered huge gains in its first day of trading, more than doubling in their debut and prompting some analysts to warn about a bubble in social media stocks.
The S&P 500 and the Nasdaq also fell. The CBOE Volatility Index, widely considered the best gauge of fear in the market, rose more than 5 percent to more than 16.
DJIA
FOREX
The Euro finished the week roughly unchanged against the US Dollar, but late-week developments suggest risks remain to the downside on heightened uncertainty surrounding Greece and broader fiscal crises. Traders sent the EURUSD sharply lower through late Friday trade as Norway suspended its fiscal aid payments to Greece and Fitch further downgraded credit ratings for the debt-stricken government. A week of relatively limited economic event risk will lead tot the market to focus more on developments surrounding Greece and broader financial market trends.
EUR/USD
COMMODITIES
Much of the drop in commodities has been triggered by a gain in the dollar, which continued on Friday as the euro sank on the news of a slowing German economy and worries over the ability of the EU to restructure Greek debt. The move in the dollar, as well as news of slowing global growth and euro zone debt troubles sent oil prices lower again. Crude fell to nearly $98 a barrel, while in London, Brent crude fell below $110.
Oi[/B]l
EQUITIES
Retailers didn’t get a good start on Friday. Gap plunged after cutting its profit outlook for the year, citing the rising cost of cotton. Aeropostale also sank after sales fell short of expectations. At least five brokerages cut their price targets for the teen retailer, while Stifel Nicolaus cut its rating on the stock to “hold” from “buy.”
Markets
Stocks eased losses but remained lower amid concerns over European debt issues and a weak outlook among retailers reporting earnings.
The Dow Jones Industrial Average fell more than 60 points, after dropping more than 100 earlier. The blue-chip average rose Thursday in the face of weak economic news as investors rallied around LinkedIn’s initial public offering. The social networking site for professionals registered huge gains in its first day of trading, more than doubling in their debut and prompting some analysts to warn about a bubble in social media stocks.
The S&P 500 and the Nasdaq also fell. The CBOE Volatility Index, widely considered the best gauge of fear in the market, rose more than 5 percent to more than 16.
DJIA
FOREX
The Euro finished the week roughly unchanged against the US Dollar, but late-week developments suggest risks remain to the downside on heightened uncertainty surrounding Greece and broader fiscal crises. Traders sent the EURUSD sharply lower through late Friday trade as Norway suspended its fiscal aid payments to Greece and Fitch further downgraded credit ratings for the debt-stricken government. A week of relatively limited economic event risk will lead tot the market to focus more on developments surrounding Greece and broader financial market trends.
EUR/USD
COMMODITIES
Much of the drop in commodities has been triggered by a gain in the dollar, which continued on Friday as the euro sank on the news of a slowing German economy and worries over the ability of the EU to restructure Greek debt. The move in the dollar, as well as news of slowing global growth and euro zone debt troubles sent oil prices lower again. Crude fell to nearly $98 a barrel, while in London, Brent crude fell below $110.
Oi[/B]l
EQUITIES
Retailers didn’t get a good start on Friday. Gap plunged after cutting its profit outlook for the year, citing the rising cost of cotton. Aeropostale also sank after sales fell short of expectations. At least five brokerages cut their price targets for the teen retailer, while Stifel Nicolaus cut its rating on the stock to “hold” from “buy.”