SamTrader1
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To read the Weekly fundamental analysis click here
Equities
Asian markets closed mostly higher, encouraged by Wall Street’s rally on Thursday. Australia’s ASX 200 jumped .8%, the Shanghai Composite gained .5%, and the Hang Seng inched up .1%. Amongst the losers, the Nikkei eased .2% to 8964, and the Kospi slumped 1.3%.
European markets rallied, led higher by bank shares which got battered earlier in the week. The FTSE rallied 3%, the DAX climbed 3.5%, and the CAC40 surged 4%. Societe Generale shares soared 5.7%, as the stock continued to recover from Wednesday’s 15% plunge, on rumors of financial insolvency.
The Dow rose 126 points to 11269, leading the major indexes higher, marking its first 2-day rally since early July. The Nasdaq rose .6% and the S&P 500 gained .5%, as the volatile weak ended on a quiet note. All 3 major indexes ended with a loss of less than 2% for the week, as a late week rally helped erase the earlier losses.
Market Mostly Recovers in Wild Week of Trading
Nordstrom shares rose 4.6% on solid earnings, while Nvidia slumped 4%, as investors were disappointed by the company’s outlook.
Treasuries and Commodities
Treasuries gained following Thursday’s tumble, with 10-year notes up 24/32 to yield 2.25%, and 30-year notes up 1 8/32 to yield 3.73%.
Energy prices slid, as natural gas dropped 1.2% to 4.06, and crude oil sank .4% to 85.38.
Metals ended mixed, as silver rose 1.2% to 39.114 and copper inched up .1% to 4.012, while gold fell .5% to 1742.60.
Currencies
The Swiss Franc continued to tumble, dropped 1.8% to .7778, just 3 days after touching a record high of .7070. The other major currencies closed moderately higher against the Dollar, as the Canadian Dollar and Pound gained .3%, while the Euro, Australian Dollar, and Yen, ticked up a mere .1%.
Economic Outlook
A US Appeals court struck down Obama’s law requiring Americans to purchase health insurance, ruling it was unconstitutional.
Friday’s economic data was mixed as consumer sentiment tumbled to its lowest level in more than 30 years, while retail sales jumped.
Monday’s reports will include the Empire State manufacturing survey, the Housing Market Index, and Credit Card Default Rates.
Binary Options Trading analysis written by Bradley Welcher
To read the Weekly fundamental analysis click here
Equities
Asian markets closed mostly higher, encouraged by Wall Street’s rally on Thursday. Australia’s ASX 200 jumped .8%, the Shanghai Composite gained .5%, and the Hang Seng inched up .1%. Amongst the losers, the Nikkei eased .2% to 8964, and the Kospi slumped 1.3%.
European markets rallied, led higher by bank shares which got battered earlier in the week. The FTSE rallied 3%, the DAX climbed 3.5%, and the CAC40 surged 4%. Societe Generale shares soared 5.7%, as the stock continued to recover from Wednesday’s 15% plunge, on rumors of financial insolvency.
The Dow rose 126 points to 11269, leading the major indexes higher, marking its first 2-day rally since early July. The Nasdaq rose .6% and the S&P 500 gained .5%, as the volatile weak ended on a quiet note. All 3 major indexes ended with a loss of less than 2% for the week, as a late week rally helped erase the earlier losses.
Market Mostly Recovers in Wild Week of Trading
Nordstrom shares rose 4.6% on solid earnings, while Nvidia slumped 4%, as investors were disappointed by the company’s outlook.
Treasuries and Commodities
Treasuries gained following Thursday’s tumble, with 10-year notes up 24/32 to yield 2.25%, and 30-year notes up 1 8/32 to yield 3.73%.
Energy prices slid, as natural gas dropped 1.2% to 4.06, and crude oil sank .4% to 85.38.
Metals ended mixed, as silver rose 1.2% to 39.114 and copper inched up .1% to 4.012, while gold fell .5% to 1742.60.
Currencies
The Swiss Franc continued to tumble, dropped 1.8% to .7778, just 3 days after touching a record high of .7070. The other major currencies closed moderately higher against the Dollar, as the Canadian Dollar and Pound gained .3%, while the Euro, Australian Dollar, and Yen, ticked up a mere .1%.
Economic Outlook
A US Appeals court struck down Obama’s law requiring Americans to purchase health insurance, ruling it was unconstitutional.
Friday’s economic data was mixed as consumer sentiment tumbled to its lowest level in more than 30 years, while retail sales jumped.
Monday’s reports will include the Empire State manufacturing survey, the Housing Market Index, and Credit Card Default Rates.
Binary Options Trading analysis written by Bradley Welcher