SamTrader1
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Equities
News that Osama bin Laden had been killed sent Asian markets higher. The Nikkei soared 1.6% to 10040, and Korea’s Kospi index jumped 1.7% to 2229. Australia’s ASX 200 closed flat, as the Australian dollar hit 1.10, a new record high. Markets in China and Hong King were closed for a holiday.
In Europe, the major indexes closed with meager gains, as the DAX rose .2%, while the CAC40 rose less than .1%. UK markets remained closed for a holiday.
US markets opened higher, but closed with modest losses as they slid throughout the day. The Dow closed down 3 points, while the Nasdaq dropped .3%.
Teva Pharmaceuticals announced plans to buy Cephalon for $6.2 billion. Teva shares rose 3.4% and Cephalon shares rose 4%.
Dish Networks soared 19% after reaching a $500 million settlement with Tivo over patent infringement.
Treasuries and Commodities
Bonds inched up, reversing from early losses. 10-year notes rise 1.32 to yield 3.28%, and 30-year notes gained 6/32 to yield 4.38%.
Commodities closed mostly lower, with some analysts suggesting the death of bin Laden will lead to lower commodity prices as the terror risk slips.
Volatile Session for US Crude Oil
Crude fell .40 to 113.12 in a volatile session which saw prices swing more than $2 from high to low. Gold dropped 1% to 1541.10, and silver slumped 3.2% to 44.595, while copper rose .3% to 4.194.
Currencies
The dollar rose slightly against most currencies. The Australian dollar eased .3% to 1.0938 after hitting a new record high of 1.1012 earlier in the day. Similarly, the Pound ended down .3%, while the Swiss Franc eased .1%.
The biggest loser was the Canadian Dollar which shed .6% to .9510, even as Canadian inflation data showed a steep rise in raw material prices.
The Euro rose .2% to 1.4833, after climbing as high as 1.4902.
Economic Outlook
Australia held its rate steady at 4.75%, as expected by analysts.
The ISM Manufacturing Index fell to 60.4, from 61.2 the month before, but the drop was less than feared. Construction Spending blew past expectations, rising 1.4% (vs. .4% expected).
Tuesday’s reports will include Auto Sales, and Factory Orders. PMI data is due for the UK.
Earnings are due from Pfizer, NYSE Euronext, MasterCard and Comcast.
By, BinaryOptionStrategy.com
News that Osama bin Laden had been killed sent Asian markets higher. The Nikkei soared 1.6% to 10040, and Korea’s Kospi index jumped 1.7% to 2229. Australia’s ASX 200 closed flat, as the Australian dollar hit 1.10, a new record high. Markets in China and Hong King were closed for a holiday.
In Europe, the major indexes closed with meager gains, as the DAX rose .2%, while the CAC40 rose less than .1%. UK markets remained closed for a holiday.
US markets opened higher, but closed with modest losses as they slid throughout the day. The Dow closed down 3 points, while the Nasdaq dropped .3%.
Teva Pharmaceuticals announced plans to buy Cephalon for $6.2 billion. Teva shares rose 3.4% and Cephalon shares rose 4%.
Dish Networks soared 19% after reaching a $500 million settlement with Tivo over patent infringement.
Treasuries and Commodities
Bonds inched up, reversing from early losses. 10-year notes rise 1.32 to yield 3.28%, and 30-year notes gained 6/32 to yield 4.38%.
Commodities closed mostly lower, with some analysts suggesting the death of bin Laden will lead to lower commodity prices as the terror risk slips.
Volatile Session for US Crude Oil
Crude fell .40 to 113.12 in a volatile session which saw prices swing more than $2 from high to low. Gold dropped 1% to 1541.10, and silver slumped 3.2% to 44.595, while copper rose .3% to 4.194.
Currencies
The dollar rose slightly against most currencies. The Australian dollar eased .3% to 1.0938 after hitting a new record high of 1.1012 earlier in the day. Similarly, the Pound ended down .3%, while the Swiss Franc eased .1%.
The biggest loser was the Canadian Dollar which shed .6% to .9510, even as Canadian inflation data showed a steep rise in raw material prices.
The Euro rose .2% to 1.4833, after climbing as high as 1.4902.
Economic Outlook
Australia held its rate steady at 4.75%, as expected by analysts.
The ISM Manufacturing Index fell to 60.4, from 61.2 the month before, but the drop was less than feared. Construction Spending blew past expectations, rising 1.4% (vs. .4% expected).
Tuesday’s reports will include Auto Sales, and Factory Orders. PMI data is due for the UK.
Earnings are due from Pfizer, NYSE Euronext, MasterCard and Comcast.
By, BinaryOptionStrategy.com