SamTrader1
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By BinaryOPtionStrategy.com
Markets
Stocks stabilized during the final hour off the highs of the day, but up nearly half a percent. This coming amid falling oil prices and sliding energy stocks, but in the aftermath of a surprisingly strong report on jobs growth in April.
The Dow Jones Industrial Average rose more than 65 points, after rising more than 170 points earlier after a strong April jobs report. The blue-chip index sank about 139 points in the previous session amid a broad sell-off in commodities. The S&P 500 and the Nasdaq also gained. Most S&P 500 sectors gained, led by materials and industrials.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, rose above 18.
DJIA
FOREX
The USD-JPY has fallen almost 6%, since the April highs, as the yen continued its rise this week. Investors piled into the Japanese currency, as concerns of a possible intervention have investors once again eyeing the BoJ. This week, the yen advanced towards levels not seen since March 18th when the USD-JPY hit record lows below the 77. Strength in the currency has been supported by a severe weakness in the dollar, which has been on the defensive since the Fed’s re-commitment to keep interest rates ultra low for an ‘extended period’ last week.
Overnight the BoJ warned that that they are watching the currency markets closely but refrained from using stronger language. They are suggesting that the currency’s rise to a 7-week high has not alarmed the central bank just yet. Traders responded to this news by unloading long yen positions after the USD-JPY pair encountered support at the 61.8% Fibonacci retracement taken from the advance off the March lows at 79.80.
USD/JPY
COMMODITIES
Commodity prices started the session quietly. But then crude sank, closing below $98, while buyers returned to silver gold. Spot silver rose on Friday, but silver futures slipped. For the week, gold fell 4.2 percent, and silver fell 27.4 percent to $35.283.
Silver
EQUITIES
Visa rose slightly after initially slipping Thursday after the credit-card processing firm delivered earnings that failed to beat expectations by the wide margins investors were once used to. Engineering firm Fluor soared after beating estimates, and reporting a surging backlog of work.
As of today, 437 S&P 500 firms or 87 percent of the index have reported quarterly. Of the results, 69 percent of the earnings reports have come in above estimates while 19 percent of the earnings have come in below forecasts.
The earnings season is slowly winding down with just a couple big firms expected to report next week such as Disney, Toyota, Cisco and Macy’s.
Markets
Stocks stabilized during the final hour off the highs of the day, but up nearly half a percent. This coming amid falling oil prices and sliding energy stocks, but in the aftermath of a surprisingly strong report on jobs growth in April.
The Dow Jones Industrial Average rose more than 65 points, after rising more than 170 points earlier after a strong April jobs report. The blue-chip index sank about 139 points in the previous session amid a broad sell-off in commodities. The S&P 500 and the Nasdaq also gained. Most S&P 500 sectors gained, led by materials and industrials.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, rose above 18.
DJIA
FOREX
The USD-JPY has fallen almost 6%, since the April highs, as the yen continued its rise this week. Investors piled into the Japanese currency, as concerns of a possible intervention have investors once again eyeing the BoJ. This week, the yen advanced towards levels not seen since March 18th when the USD-JPY hit record lows below the 77. Strength in the currency has been supported by a severe weakness in the dollar, which has been on the defensive since the Fed’s re-commitment to keep interest rates ultra low for an ‘extended period’ last week.
Overnight the BoJ warned that that they are watching the currency markets closely but refrained from using stronger language. They are suggesting that the currency’s rise to a 7-week high has not alarmed the central bank just yet. Traders responded to this news by unloading long yen positions after the USD-JPY pair encountered support at the 61.8% Fibonacci retracement taken from the advance off the March lows at 79.80.
USD/JPY
COMMODITIES
Commodity prices started the session quietly. But then crude sank, closing below $98, while buyers returned to silver gold. Spot silver rose on Friday, but silver futures slipped. For the week, gold fell 4.2 percent, and silver fell 27.4 percent to $35.283.
Silver
EQUITIES
Visa rose slightly after initially slipping Thursday after the credit-card processing firm delivered earnings that failed to beat expectations by the wide margins investors were once used to. Engineering firm Fluor soared after beating estimates, and reporting a surging backlog of work.
As of today, 437 S&P 500 firms or 87 percent of the index have reported quarterly. Of the results, 69 percent of the earnings reports have come in above estimates while 19 percent of the earnings have come in below forecasts.
The earnings season is slowly winding down with just a couple big firms expected to report next week such as Disney, Toyota, Cisco and Macy’s.