SamTrader1
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To read the Weekly technical report click here
To read the Weekly fundamental analysis click here
Equities
Asian markets gained, opening the week on solid footing. The Hang Seng jumped 3.3% to lead the region, followed by Australia’s ASX 200 which rallied 2.6%. More modest gains were achieved in Japan, where the Nikkei climbed 1.4% to 9086, and China’s Shanghai Composite rose 1.3%. South Korea’s market was closed for a holiday.
European markets ended modestly higher, as the FTSE rose .6% and the DAX gained .4%.
US markets rallied, erasing all of last week’s losses. The S&P 500 added 2.2% to 1204.50, the Dow jumped 214 points, and the Nasdaq rose 1.9%. The 3-day rally is the biggest since March 2009.
S&P 500 up 100 Points from Tuesday's Lows
Google offered to buy Motorola Mobility for $12.5 billion in cash, boosting handset makers. Nokia shares jumped 17.4% on speculation it may be a takeover target, and Research in Motion rallied 10.4%. Motorola Mobility shares skyrocketed 56% higher.
Treasuries and Commodities
Bond prices fell, with the benchmark 10-year note down 15/32 to yield 2.31% and 30-year notes dropped 26/32 to yield 3.77%.
Crude oil jumped 3% to 87.93 and gasoline futures advanced 1.6% to 2.8685, while natural gas fell .8% to 4.027.
Metals rallied, as gold and silver both climbed 1.4%, and copper rose .6% to 4.0355.
Currencies
The Euro jumped 1.3% to 1.4441, and the Australian Dollar soared 1.4% to 1.0498 as investor anxiety eased. The Pound rose a more modest .6% to 1.6380, and the Canadian Dollar gained .7% to .9804. The Swiss Franc continued its declines, dropping .9% to .7846, and the Yen closed down fractionally at 76.86.
Economic Outlook
Monday’s economic data was disappointing, but investors didn’t seem to care, due to the oversold markets. The Empire State Manufacturing Index fell to its lowest level since November, and was well below analyst expectations. The housing market index remained at 15, a sign of extreme weakness in the sector.
Leaders from Germany and France are due to meet on Tuesday to address the expanding European debt crisis.
Tuesday’s economic reports will include Housing Starts, Industrial Production, and Inport & Export Prices.
Earnings are due from Home Depot, Wal-Mart, Saks and Dell.
Binary Options Trading analysis written by Bradley Welcher
To read the Weekly fundamental analysis click here
Equities
Asian markets gained, opening the week on solid footing. The Hang Seng jumped 3.3% to lead the region, followed by Australia’s ASX 200 which rallied 2.6%. More modest gains were achieved in Japan, where the Nikkei climbed 1.4% to 9086, and China’s Shanghai Composite rose 1.3%. South Korea’s market was closed for a holiday.
European markets ended modestly higher, as the FTSE rose .6% and the DAX gained .4%.
US markets rallied, erasing all of last week’s losses. The S&P 500 added 2.2% to 1204.50, the Dow jumped 214 points, and the Nasdaq rose 1.9%. The 3-day rally is the biggest since March 2009.
S&P 500 up 100 Points from Tuesday's Lows
Google offered to buy Motorola Mobility for $12.5 billion in cash, boosting handset makers. Nokia shares jumped 17.4% on speculation it may be a takeover target, and Research in Motion rallied 10.4%. Motorola Mobility shares skyrocketed 56% higher.
Treasuries and Commodities
Bond prices fell, with the benchmark 10-year note down 15/32 to yield 2.31% and 30-year notes dropped 26/32 to yield 3.77%.
Crude oil jumped 3% to 87.93 and gasoline futures advanced 1.6% to 2.8685, while natural gas fell .8% to 4.027.
Metals rallied, as gold and silver both climbed 1.4%, and copper rose .6% to 4.0355.
Currencies
The Euro jumped 1.3% to 1.4441, and the Australian Dollar soared 1.4% to 1.0498 as investor anxiety eased. The Pound rose a more modest .6% to 1.6380, and the Canadian Dollar gained .7% to .9804. The Swiss Franc continued its declines, dropping .9% to .7846, and the Yen closed down fractionally at 76.86.
Economic Outlook
Monday’s economic data was disappointing, but investors didn’t seem to care, due to the oversold markets. The Empire State Manufacturing Index fell to its lowest level since November, and was well below analyst expectations. The housing market index remained at 15, a sign of extreme weakness in the sector.
Leaders from Germany and France are due to meet on Tuesday to address the expanding European debt crisis.
Tuesday’s economic reports will include Housing Starts, Industrial Production, and Inport & Export Prices.
Earnings are due from Home Depot, Wal-Mart, Saks and Dell.
Binary Options Trading analysis written by Bradley Welcher