SamTrader1
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By, BinaryOptionStrategy.com
Equities
Asian markets closed mostly lower, although the markets largely shrugged off Friday’s steep slide in the US and Europe. The Nikkei dropped .7% to 9448, as an unexpected slowdown of factory orders, and a weaker than expected earnings report from Toyota weighed on shares. China’s Shanghai Composite eased .2%, and the Korean Kospi ended flat. In Hong Kong, the Hang Send rose .4%, ending a 7-day losing streak, as banks rallied. Australia’s markets were closed for a holiday.
In Europe, the major indexes rose slightly, as the FTSE and CAC40 gained .1% and the DAX advanced .2%. Vodafone gained .8% after analysts raised its price target, lifting the telecommunications sector. S&P cut Greece’s credit rating by three notches, leaving the struggling nation with the lowest credit rating in the world.
US markets closed little changed, as the Dow rose 1 point to 11953, the S&P 500 gained less than .1%, and the Nasdaq slid .15%. Banks rallied, as Citigroup gained 3.3% and Morgan Stanley rose 3%. Energy shares fell, as crude prices fell.
VF Corporation announced it was buying Timberland for $2 billion, sending shares in both companies sharply higher. VF rose 10% and Timberland soared 44%.
Wendy’s announced it will sell the Arby’s restaurant chain to Roark Capital Group for $130 million.
Treasuries and Commodities
Bonds eased slightly, as 10-year notes lost 5/32 to yield 2.99% and 30-year notes dropped 13/32 to yield 4.2%.
Commodities closed mostly lower. In energy, crude dropped 2.3% to 96.97, and natural gas fell 2.6% to 4.63. Metals extended their losses, led once again by silver which fell 4.3% to 34.765. Gold shed 12.70 to close at 1516.50, and copper lost .6% to 4.0355.
Currencies
The dollar retreated after Friday’s gains, led by the Pound which climbed 1% to 1.6386. The Euro gained .5% to 1.4414, and the Swiss Franc advanced .7% to .8370. The Yen inched up .2% to 80.19, and the Australian Dollar rose .7% to 1.0610.
Pound Rallies 1%, Reversing Friday's Losses
Economic Outlook
Tuesday’s reports will include PPI, Retails Sales, Business Inventories and the NFIB Optimism Index. In the UK, CPI data is due. Earnings are due from Best Buy.
S&P’s downgrade of Greece suggests the ratings agency believes the IMF and ECB will not succeed in preventing a Greek default on its debt. Such an event could trigger untold problems for the global markets and the EU in particular,
Equities
Asian markets closed mostly lower, although the markets largely shrugged off Friday’s steep slide in the US and Europe. The Nikkei dropped .7% to 9448, as an unexpected slowdown of factory orders, and a weaker than expected earnings report from Toyota weighed on shares. China’s Shanghai Composite eased .2%, and the Korean Kospi ended flat. In Hong Kong, the Hang Send rose .4%, ending a 7-day losing streak, as banks rallied. Australia’s markets were closed for a holiday.
In Europe, the major indexes rose slightly, as the FTSE and CAC40 gained .1% and the DAX advanced .2%. Vodafone gained .8% after analysts raised its price target, lifting the telecommunications sector. S&P cut Greece’s credit rating by three notches, leaving the struggling nation with the lowest credit rating in the world.
US markets closed little changed, as the Dow rose 1 point to 11953, the S&P 500 gained less than .1%, and the Nasdaq slid .15%. Banks rallied, as Citigroup gained 3.3% and Morgan Stanley rose 3%. Energy shares fell, as crude prices fell.
VF Corporation announced it was buying Timberland for $2 billion, sending shares in both companies sharply higher. VF rose 10% and Timberland soared 44%.
Wendy’s announced it will sell the Arby’s restaurant chain to Roark Capital Group for $130 million.
Treasuries and Commodities
Bonds eased slightly, as 10-year notes lost 5/32 to yield 2.99% and 30-year notes dropped 13/32 to yield 4.2%.
Commodities closed mostly lower. In energy, crude dropped 2.3% to 96.97, and natural gas fell 2.6% to 4.63. Metals extended their losses, led once again by silver which fell 4.3% to 34.765. Gold shed 12.70 to close at 1516.50, and copper lost .6% to 4.0355.
Currencies
The dollar retreated after Friday’s gains, led by the Pound which climbed 1% to 1.6386. The Euro gained .5% to 1.4414, and the Swiss Franc advanced .7% to .8370. The Yen inched up .2% to 80.19, and the Australian Dollar rose .7% to 1.0610.
Pound Rallies 1%, Reversing Friday's Losses
Economic Outlook
Tuesday’s reports will include PPI, Retails Sales, Business Inventories and the NFIB Optimism Index. In the UK, CPI data is due. Earnings are due from Best Buy.
S&P’s downgrade of Greece suggests the ratings agency believes the IMF and ECB will not succeed in preventing a Greek default on its debt. Such an event could trigger untold problems for the global markets and the EU in particular,