SamTrader1
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Equities
China’s Shanghai Composite surged 2.5% as suggestions that inflation was less than expected, coupled with strong trade data, sent stocks soaring. The Nikkei rose 1.1% to 10725, despite a drop in GDP for the quarter. The Kospi rallied 1.9%, and the ASX jumped 1.1%.
European shares were unable to capitalize on the upwards Asian momentum. The FTSE ended flat, and the Dax edged up .3% as gains in materials stocks were offset by losses in the banking sector.
In the US, the Dow ended flat, while the Nasdaq rose a modest .3%. Oil companies rallied as Chinese import data indicated growth in oil imports.
Clorox shares dropped 6.2% after being downgraded by two firms, and Nokia continued to fall, dropping 5.6% as investors questioned the company’s partnership with Microsoft.
Treasuries and Commodities
Bonds posted modest gains, as the 10-year note rose 2.32 to yield 3.62%, while the 30-year notes gained 9/32 to yield 4.67%.
Oil slipped .70 to 84.88, while the rest of the energy sector gained. Gasoline futures closed up 2.1% and natural gas rose .8%.
Metals rallied, buoyed by Chinese import data. Copper jumped 2% to 4.62, a new record close, and palladium leaped 2.3% to 832.20. Gold closed up fractionally, while silver gained 1.8% to 30.53.
Copper Closes at New Record High
Currencies
The dollar ended mixed, as the euro fell .5% to 1.3485, while the Pound rose .2% to 1.6038. The dollar slipped .14 against the yen to 83.29, and fell .3% against the Swiss Franc.
Economic Outlook
Tuesday’s economic reports will include Retail Sales, the Empire State Manufacturing Survey, and the Housing Market Index.
Earnings are due from Barclays, Dell, and Tesla.
Equities
China’s Shanghai Composite surged 2.5% as suggestions that inflation was less than expected, coupled with strong trade data, sent stocks soaring. The Nikkei rose 1.1% to 10725, despite a drop in GDP for the quarter. The Kospi rallied 1.9%, and the ASX jumped 1.1%.
European shares were unable to capitalize on the upwards Asian momentum. The FTSE ended flat, and the Dax edged up .3% as gains in materials stocks were offset by losses in the banking sector.
In the US, the Dow ended flat, while the Nasdaq rose a modest .3%. Oil companies rallied as Chinese import data indicated growth in oil imports.
Clorox shares dropped 6.2% after being downgraded by two firms, and Nokia continued to fall, dropping 5.6% as investors questioned the company’s partnership with Microsoft.
Treasuries and Commodities
Bonds posted modest gains, as the 10-year note rose 2.32 to yield 3.62%, while the 30-year notes gained 9/32 to yield 4.67%.
Oil slipped .70 to 84.88, while the rest of the energy sector gained. Gasoline futures closed up 2.1% and natural gas rose .8%.
Metals rallied, buoyed by Chinese import data. Copper jumped 2% to 4.62, a new record close, and palladium leaped 2.3% to 832.20. Gold closed up fractionally, while silver gained 1.8% to 30.53.
Copper Closes at New Record High
Currencies
The dollar ended mixed, as the euro fell .5% to 1.3485, while the Pound rose .2% to 1.6038. The dollar slipped .14 against the yen to 83.29, and fell .3% against the Swiss Franc.
Economic Outlook
Tuesday’s economic reports will include Retail Sales, the Empire State Manufacturing Survey, and the Housing Market Index.
Earnings are due from Barclays, Dell, and Tesla.
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