SamTrader1
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By, BinaryOptionStrategy.com
Equities
Asian markets rallied on Tuesday, fueled by upbeat manufacturing activity in Japan. The Nikkei soared 2% to 9694, and the Kospi jumped 2.3%. The Hang Seng rallied 2.2% and the Shanghai Composite rose 1.4%. Solar energy and alternative energy companies led the gains, following Monday’s announcement by Germany that it would close its nuclear reactors by 2022.
In Europe, optimism towards Greek’s bailout negotiations sent the region’s markets higher. The DAX led the major indexes, climbing 1.9%, followed by the CAC40 which gained 1.6%. The FTSE rose .9%.
Germany's DAX Rallies 1.9% Higher
US markets rallied as optimism over Greece’s bailout outshone negative economic data. The Dow rose 128 points to 12570 and the Nasdaq gained 1.4%.
SAP shares rose 3.1% after announcing a plan to work with Cisco to develop enterprise solutions.
Nokia shares plunged 14.4% after cutting its sales outlook. Meanwhile, Apple shares rallied more than 3%.
Treasuries and Commodities
Bonds rose once again, as weak economic data raised the appeal of fixed income assets. 10-year notes rose 8/32 to yield 3.04% and 30-year notes rose 16/32 to yield 4.21%.
The Euro rose nearly 1 cent to 1.4383, and had climbed as high as 1.4425 earlier in the day. The Canadian Dollar rallied strongly, climbing .8% to .9690, while the US Dollar rose .5% against the Yen, and .2% against the Pound and Australian Dollar.
Economic Outlook
Tuesday’s economic reports painted a consistent picture of a weak recovery for the US.
Consumer Confidence fell to 60.8 from 66 in April, hitting a 6-month low. The Case Shiller Home Price Index showed prices falling 3.6% from a year ago, worse than expected. Chicago PMI came in at 56.6, well below the 63.8 analysts had expected.
Wednesday’s reports will include the ADP employment report, ISM manufacturing index, Vehicle Sales, and Construction Spending.
Equities
Asian markets rallied on Tuesday, fueled by upbeat manufacturing activity in Japan. The Nikkei soared 2% to 9694, and the Kospi jumped 2.3%. The Hang Seng rallied 2.2% and the Shanghai Composite rose 1.4%. Solar energy and alternative energy companies led the gains, following Monday’s announcement by Germany that it would close its nuclear reactors by 2022.
In Europe, optimism towards Greek’s bailout negotiations sent the region’s markets higher. The DAX led the major indexes, climbing 1.9%, followed by the CAC40 which gained 1.6%. The FTSE rose .9%.
Germany's DAX Rallies 1.9% Higher
US markets rallied as optimism over Greece’s bailout outshone negative economic data. The Dow rose 128 points to 12570 and the Nasdaq gained 1.4%.
SAP shares rose 3.1% after announcing a plan to work with Cisco to develop enterprise solutions.
Nokia shares plunged 14.4% after cutting its sales outlook. Meanwhile, Apple shares rallied more than 3%.
Treasuries and Commodities
Bonds rose once again, as weak economic data raised the appeal of fixed income assets. 10-year notes rose 8/32 to yield 3.04% and 30-year notes rose 16/32 to yield 4.21%.
The Euro rose nearly 1 cent to 1.4383, and had climbed as high as 1.4425 earlier in the day. The Canadian Dollar rallied strongly, climbing .8% to .9690, while the US Dollar rose .5% against the Yen, and .2% against the Pound and Australian Dollar.
Economic Outlook
Tuesday’s economic reports painted a consistent picture of a weak recovery for the US.
Consumer Confidence fell to 60.8 from 66 in April, hitting a 6-month low. The Case Shiller Home Price Index showed prices falling 3.6% from a year ago, worse than expected. Chicago PMI came in at 56.6, well below the 63.8 analysts had expected.
Wednesday’s reports will include the ADP employment report, ISM manufacturing index, Vehicle Sales, and Construction Spending.