SamTrader1
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By BinaryOptionStrategy.com
Equities
The Nikkei fell 1.1% to 9615, as investors once again returned to concerns following the deadly earthquake and tsunami. Elsewhere in Asia, the Kospi rallied .7% to 2130, a new record close, and the ASX 200 rose .3%. Chinese and Hong Kong markets were closed for a holiday.
In Europe, the Dax and CAC40 both ended flat, while the FTSE slipped .2%. Energy companies rallied as Brent Crude crossed the $122 mark. Moody’s downgraded Portugal’s debt rating one notch, further weighing on the country’s ability to raise money in the bond markets.
US markets ended flat, while the VIX fell below 17.
Texas Instruments made a $6.5 billion cash offer for National Semiconductor. National Semiconductor rocketed 71% on the news, and the semiconductor sector as a whole rallied. In other merger news, Merck announced plans to purchase Inspire Pharmaceuticals, an ophthalmology company.
Treasuries and Commodities
Bonds fell, as the FOMC minutes revealed growing concern about low interest rates amongst Federal Reserve board members. 10-year notes dropping 18/32 to yield 3.49%, and 30-year notes declined 20/32 to yield 4.51%.
The energy sector ended mixed, lacking a clear direction. US crude slipped .3% to 108.14, while Brent Crude rallied .7% to 121.89 as ongoing clashes in Libya stoked supply concerns. Natural gas fell 1.2% while gasoline rose.8%.
Gold soared $21.10 to a new record close of 1454.10, and silver surged 1.9% to 39.21. Copper continued its struggles, slipping .2% to 4.246, while other metals rallied.
Coffee jumped 4.8% and cotton climbed 2.4%, while sugar declined 1.6%/
Currencies
The Pound rallied .9% against the dollar to 1.6280 as an upbeat PMI report suggested the economic recovery might be stronger than thought. The yen continued to fall, dropping to 84.82, and the Swiss Franc eased .2% to .9256. The Canadian Dollar rallied .4% to .9632, while the Euro closed flat.
Pound Rallies Following PMI Report
Economic Outlook
The ISM non-manufacturing index dropped to 57.3 from 59.7 in February, well below analyst expectations of 59.5.
House Republicans unveiled a budget plan which will cut spending by $6 trillion over the next decade, primarily with cuts in health care for the elderly and poor. Shockingly, even such steep cuts will not balance the budget.
China raised interest rates once again in an effort to stem inflation.
Wednesday’s reports will include weekly mortgage applications and oil inventories.
Earnings are due from Bed Bath and Beyond, and Monsanto.
Equities
The Nikkei fell 1.1% to 9615, as investors once again returned to concerns following the deadly earthquake and tsunami. Elsewhere in Asia, the Kospi rallied .7% to 2130, a new record close, and the ASX 200 rose .3%. Chinese and Hong Kong markets were closed for a holiday.
In Europe, the Dax and CAC40 both ended flat, while the FTSE slipped .2%. Energy companies rallied as Brent Crude crossed the $122 mark. Moody’s downgraded Portugal’s debt rating one notch, further weighing on the country’s ability to raise money in the bond markets.
US markets ended flat, while the VIX fell below 17.
Texas Instruments made a $6.5 billion cash offer for National Semiconductor. National Semiconductor rocketed 71% on the news, and the semiconductor sector as a whole rallied. In other merger news, Merck announced plans to purchase Inspire Pharmaceuticals, an ophthalmology company.
Treasuries and Commodities
Bonds fell, as the FOMC minutes revealed growing concern about low interest rates amongst Federal Reserve board members. 10-year notes dropping 18/32 to yield 3.49%, and 30-year notes declined 20/32 to yield 4.51%.
The energy sector ended mixed, lacking a clear direction. US crude slipped .3% to 108.14, while Brent Crude rallied .7% to 121.89 as ongoing clashes in Libya stoked supply concerns. Natural gas fell 1.2% while gasoline rose.8%.
Gold soared $21.10 to a new record close of 1454.10, and silver surged 1.9% to 39.21. Copper continued its struggles, slipping .2% to 4.246, while other metals rallied.
Coffee jumped 4.8% and cotton climbed 2.4%, while sugar declined 1.6%/
Currencies
The Pound rallied .9% against the dollar to 1.6280 as an upbeat PMI report suggested the economic recovery might be stronger than thought. The yen continued to fall, dropping to 84.82, and the Swiss Franc eased .2% to .9256. The Canadian Dollar rallied .4% to .9632, while the Euro closed flat.
Pound Rallies Following PMI Report
Economic Outlook
The ISM non-manufacturing index dropped to 57.3 from 59.7 in February, well below analyst expectations of 59.5.
House Republicans unveiled a budget plan which will cut spending by $6 trillion over the next decade, primarily with cuts in health care for the elderly and poor. Shockingly, even such steep cuts will not balance the budget.
China raised interest rates once again in an effort to stem inflation.
Wednesday’s reports will include weekly mortgage applications and oil inventories.
Earnings are due from Bed Bath and Beyond, and Monsanto.