SamTrader1
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By, BinaryOptionStrategy.com
Markets
Indexes held onto modest gains Friday in a light-volume session ahead of the Memorial Day holiday. They were led by materials, as commodities gained on the heels of a weaker U.S. dollar.
The Dow Jones Industrial Average was up more than 40 points. This after ending higher in a choppy session on Thursday. The S&P 500 and the Nasdaq also rose. The CBOE Volatility Index was near 16.
Most key S&P 500 sectors gained, led by financials and materials while energy sagged.
DJIA
FOREX
The British Pound has been somewhat of an anomaly among major currencies since the beginning of the month. While the majority of its counterparts fell in with broad-based trends on investors’ risk appetite, the Sterling remained uniquely focused on domestic matters. This with traders most concerned about how the Bank of England will resolve the conflicting objectives of capping the surge in inflation while keeping the fragile economy from slipping back into recession. The central bank has proven willing to remain accommodative despite uncomfortably high CPI growth rates, opting to make growth the policy priority. The economic data set due for release in the week ahead promises to reinforce the status quo, putting the Pound on the defensive. The Bank of England has been right to keep rates on hold. Indeed, price growth expectations for the next five years derived by comparing the yields on regular and inflation indexed UK government bonds of equal maturity have been trending lower over the past two months. They are are now poised to break the uptrend in place since August of last year.
GBP/USD
COMMODITIES
Cruded oil settled above $100 off early highs Friday after data showed US home sales plunged in April, adding to the latest crop of weak economic signals, and wiping away most of the day’s early gains sparked by a weaker dollar. Crude for July delivery rose $0.36 to settle at $100.59 a barrel, after hitting an early high of $101.24. Gold hit a 3-week high, climbing above $1,535 an ounce amid reports that Chinese imports were likely to surge and amid concerns over the restructuring of Greece’s debt.
Oil
EQUITIES
Johnson & Johnson shares rose following a positive update on the firm’s prescription drug business and after some analysts increased their price target for the drugmaker’s stock. Aflac, meanwhile fell after the life insurer was downgraded to “equal weight” by Morgan Stanley after Japanese regulators evaluated the company’s capital levels. Prudential Financial and MetLife got better readings from the regulators.
Markets
Indexes held onto modest gains Friday in a light-volume session ahead of the Memorial Day holiday. They were led by materials, as commodities gained on the heels of a weaker U.S. dollar.
The Dow Jones Industrial Average was up more than 40 points. This after ending higher in a choppy session on Thursday. The S&P 500 and the Nasdaq also rose. The CBOE Volatility Index was near 16.
Most key S&P 500 sectors gained, led by financials and materials while energy sagged.
DJIA
FOREX
The British Pound has been somewhat of an anomaly among major currencies since the beginning of the month. While the majority of its counterparts fell in with broad-based trends on investors’ risk appetite, the Sterling remained uniquely focused on domestic matters. This with traders most concerned about how the Bank of England will resolve the conflicting objectives of capping the surge in inflation while keeping the fragile economy from slipping back into recession. The central bank has proven willing to remain accommodative despite uncomfortably high CPI growth rates, opting to make growth the policy priority. The economic data set due for release in the week ahead promises to reinforce the status quo, putting the Pound on the defensive. The Bank of England has been right to keep rates on hold. Indeed, price growth expectations for the next five years derived by comparing the yields on regular and inflation indexed UK government bonds of equal maturity have been trending lower over the past two months. They are are now poised to break the uptrend in place since August of last year.
GBP/USD
COMMODITIES
Cruded oil settled above $100 off early highs Friday after data showed US home sales plunged in April, adding to the latest crop of weak economic signals, and wiping away most of the day’s early gains sparked by a weaker dollar. Crude for July delivery rose $0.36 to settle at $100.59 a barrel, after hitting an early high of $101.24. Gold hit a 3-week high, climbing above $1,535 an ounce amid reports that Chinese imports were likely to surge and amid concerns over the restructuring of Greece’s debt.
Oil
EQUITIES
Johnson & Johnson shares rose following a positive update on the firm’s prescription drug business and after some analysts increased their price target for the drugmaker’s stock. Aflac, meanwhile fell after the life insurer was downgraded to “equal weight” by Morgan Stanley after Japanese regulators evaluated the company’s capital levels. Prudential Financial and MetLife got better readings from the regulators.