SamTrader1
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By, BinaryOptionStrategy.com
Equities
Asian market rose moderately, aided by growing optimism over Greece’s bailout. The Nikkei led the advance, rising 71 points to 9649, and Australia’s ASX 200 gained .3%. China’s markets inched up, as the Shanghai Composite rose just .04%, and the Hang Seng rose .1%. South Korea’s Kospi lagged the region, dropping .4% weighed down by Korea Express, which tumbled 15% after losing a bid to buy Posco.
In Europe, the major indexes closed higher, as a French plan to roll over Greece’s debt gained support. The CAC40 jumped 1.4%, the DAX rose .9%, and the FTSE gained .8%.
The global upbeat sentiment, helped push US stocks higher, as the Dow rallied 117 points to 12161. The Nasdaq once again was the biggest gainer, climbing 1.2%, and the S&P 500 gained 1% to 1293.
The oil service sector jumped, thanks to a spike in oil prices. Halliburton gained 5.2%, and Schlumberger rose 3.9%.
Nike reported strong earnings, sending the stock up 8%.
Treasuries and Commodities
A $35 billion auction for 5-year notes had a bid-to-cover ratio of 2.59 and a high yield of 1.615%.
Bonds extended their declines, with 10-year notes dropping 28/32 to yield 3.03%, and 30-year notes fell 19/32 to yield 4.33%.
Commodities rallied, with sizable gains in all sectors. A late day rally in crude oil sent prices up 2.5% to 92.90, and gasoline jumped 2.8% to 2.89.
Oil Jumps 2.5% in Afternoon Rally
Metals gained, as gold edged up .3% to 1500.20, and silver gained .7% to 33.845. Copper climbed 1.1% to 4.1105, and platinum gained 1% to 1689.80.
Sugar jumped 5.5%, coffee rose 2.9% and wheat advanced 3.3%, as softs marched higher.
Currencies
The Euro rose .4% to 1.4350 as sentiment improved, and the Australian Dollar closed up .6% at 1.0511, recovering from Monday’s selloff. The Dollar hit a new record low against the Swiss Franc of.8276, and closed down .3% at .8325. The Yen slid .3% to 81.18, while the Pound closed flat at 1.5986.
Economic Outlook
The Case-Shiller Home Price Index revealed that home prices fell 4% in April, slightly worse than expected. The Richmond Manufacturing Index exceeded expectations, as the index rose as opposed to last months drop. Consumer Confidence dropped to 58.5, well below analyst forecasts, hitting its lowest level since November.
Wednesday’s reports will inclide Pending Home Sales, Farm Prices, weekly mortgage applications, and weekly oil inventories.
Earnings are due from General Mills Monsanto, and KB Home.
Equities
Asian market rose moderately, aided by growing optimism over Greece’s bailout. The Nikkei led the advance, rising 71 points to 9649, and Australia’s ASX 200 gained .3%. China’s markets inched up, as the Shanghai Composite rose just .04%, and the Hang Seng rose .1%. South Korea’s Kospi lagged the region, dropping .4% weighed down by Korea Express, which tumbled 15% after losing a bid to buy Posco.
In Europe, the major indexes closed higher, as a French plan to roll over Greece’s debt gained support. The CAC40 jumped 1.4%, the DAX rose .9%, and the FTSE gained .8%.
The global upbeat sentiment, helped push US stocks higher, as the Dow rallied 117 points to 12161. The Nasdaq once again was the biggest gainer, climbing 1.2%, and the S&P 500 gained 1% to 1293.
The oil service sector jumped, thanks to a spike in oil prices. Halliburton gained 5.2%, and Schlumberger rose 3.9%.
Nike reported strong earnings, sending the stock up 8%.
Treasuries and Commodities
A $35 billion auction for 5-year notes had a bid-to-cover ratio of 2.59 and a high yield of 1.615%.
Bonds extended their declines, with 10-year notes dropping 28/32 to yield 3.03%, and 30-year notes fell 19/32 to yield 4.33%.
Commodities rallied, with sizable gains in all sectors. A late day rally in crude oil sent prices up 2.5% to 92.90, and gasoline jumped 2.8% to 2.89.
Oil Jumps 2.5% in Afternoon Rally
Metals gained, as gold edged up .3% to 1500.20, and silver gained .7% to 33.845. Copper climbed 1.1% to 4.1105, and platinum gained 1% to 1689.80.
Sugar jumped 5.5%, coffee rose 2.9% and wheat advanced 3.3%, as softs marched higher.
Currencies
The Euro rose .4% to 1.4350 as sentiment improved, and the Australian Dollar closed up .6% at 1.0511, recovering from Monday’s selloff. The Dollar hit a new record low against the Swiss Franc of.8276, and closed down .3% at .8325. The Yen slid .3% to 81.18, while the Pound closed flat at 1.5986.
Economic Outlook
The Case-Shiller Home Price Index revealed that home prices fell 4% in April, slightly worse than expected. The Richmond Manufacturing Index exceeded expectations, as the index rose as opposed to last months drop. Consumer Confidence dropped to 58.5, well below analyst forecasts, hitting its lowest level since November.
Wednesday’s reports will inclide Pending Home Sales, Farm Prices, weekly mortgage applications, and weekly oil inventories.
Earnings are due from General Mills Monsanto, and KB Home.