BinaryOptions Daily Analysis – Markets Inch Up, Commodities Extend Gains Equities


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Asian markets closed mostly lower. The Nikkei fell .6% to 9423, its lowest close in more than 2 months, and the Kospi slumped 1.3%. China’s Shanghai Composite declined .9%, but the Hang Seng managed to close up .1% as a late-day rally erased the indexes losses.

European markets inched up once again, as the FTSE rose .2%, while the DAX and CAC40 gained .3%. The Stoxx Europe 600 Banks index rallied, gaining more than 2%.

Similarly, US markets managed small gains. The Dow rose 38 points to 12395, and the S&P 500 rose .3% to 1320. The Nasdaq gained .6%, led by Netflix which jumped 4.8% on news of a potential deal with Facebook.

AIG shares sank 4.6% after the US Treasury sold 200 million shares for $29 a share. The Treasury still owns more than 1 billion shares.

Polo Ralph Lauren tumbled 11% on disappointing earnings, which was attributed to Japan’s March earthquake.

Treasuries and Commodities

US bonds closed mostly flat, although 30-year bonds slipped 13/32 to yield 4.27%. In Germany, bonds prices bounced moderately after Tuesday’s selloff, as 10year notes rose .174 and 30 year notes added .22.

Commodities rallied strongly, with green across the board. US crude climbed 1.74 to 101.33 and gaoline futures added 1.1% to 3.0246, crossing back above $3.

Oil Extends Gains, Crossing Back above $100
Silver soared 4.9% to 37.91, and copper rallied 2.3% to 4.107. Gold edged up $3 to 1526.30.


The Euro closed down .1% at 1.4087, recovering from earlier losses, while the Pound rallied .6% to 1.6281. The Yen closed flat, and the Canadian Dollar eased .1%.

The Swiss Franc jumped .8% to .8728, and hit a fresh record against the Euro, touching 1.2275.

Economic Outlook

Durable Goods orders fell 3.6%, much more than expected, and a significant reversal from March’s gain of 4.4%.

Home prices fell .3%, less than the .7% expected, and Mortgage applications rose 1.1% last week.

Thursday’s reports will include GDP, Corporate Profits, and weekly jobless claims.

Earnings are due from Heinz, Marvell, Tiffany, and Blue Coat Systems.

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