Binary Options Trading analysis written by Bradley Welcher - BinaryOptionStrategy
Equities
Asian markets traded lower as disappointment over Friday’s European Summit set in. The Nukkei dropped 1.2% to 8553, the Kospi slumped 1.9%, and the ASX 200 declined by 1.6%. The Shanghai Composite fell 1.9% to 2249, its lowest level since March 2009, and the Hang Seng eased .7%.
European markets closed mixed following Monday’s slide. The CAC40 fell .4%, and the DAX slipped .2%, while the FTSE rallied 1.2%, lifted by the energy sector. Investors digested news that German chancellor, Angela Merkel, opposes an increase in Europe’s bailout fund.
US stocks dropped in the late afternoon, following the Fed’s statement, which failed to entice investors. The Dow closed down 66 points to 11955, the S&P 500 dropped .9%, and the Nasdaq fell 1.3%
Best Buy shares tumbled 15.5% after reporting earnings which were well below estimates. Disappointing retail sales data hit sent the retail sector down 3%, with Amazon shares shedding 4.8%.
Nasdaq Loses 1.3% in Afternoon Selloff
Treasuries and Commodities
US bonds rose for a second day, with 10-year notes up 13/32 to yield 1.97%, and 30-year notes up 29/32 to yield 3.00%. In contrast, UK bonds fell, with 10 year notes losing .23 to yield 2.13%, and 30-year notes dropping .96 to yield 3.2%.
The energy sector advanced, as oil and gasoline both rallied 1.8% to 99.52 and 2.6107 respectively.
Metals however, tumbled, as gold plunged 2.3% to 1629.10, copper declined 2.1%, and silver lost 1.4%.
Currencies
The Euro extended its losses from Monday, dropping 1.1% to 1.3031. The Pound and Canadian Dollar both lost .7%, and the Australian Dollar fell .5% to 1.0005. The Yen settled at 77.99, down fractionally, and the Swiss Franc slumped .8% to 1.0571.
Economic Outlook
Tuesday’s economic data was disappointing. Retails sales rose by.2% in November, significantly less than the .6% forecast. Business inventories rose by .8%, slightly more than expected.
Wednesday’s reports will include import prices, weekly oil inventories, and weekly mortgage applications.
No major earnings reports are due.
Equities
Asian markets traded lower as disappointment over Friday’s European Summit set in. The Nukkei dropped 1.2% to 8553, the Kospi slumped 1.9%, and the ASX 200 declined by 1.6%. The Shanghai Composite fell 1.9% to 2249, its lowest level since March 2009, and the Hang Seng eased .7%.
European markets closed mixed following Monday’s slide. The CAC40 fell .4%, and the DAX slipped .2%, while the FTSE rallied 1.2%, lifted by the energy sector. Investors digested news that German chancellor, Angela Merkel, opposes an increase in Europe’s bailout fund.
US stocks dropped in the late afternoon, following the Fed’s statement, which failed to entice investors. The Dow closed down 66 points to 11955, the S&P 500 dropped .9%, and the Nasdaq fell 1.3%
Best Buy shares tumbled 15.5% after reporting earnings which were well below estimates. Disappointing retail sales data hit sent the retail sector down 3%, with Amazon shares shedding 4.8%.
Nasdaq Loses 1.3% in Afternoon Selloff
Treasuries and Commodities
US bonds rose for a second day, with 10-year notes up 13/32 to yield 1.97%, and 30-year notes up 29/32 to yield 3.00%. In contrast, UK bonds fell, with 10 year notes losing .23 to yield 2.13%, and 30-year notes dropping .96 to yield 3.2%.
The energy sector advanced, as oil and gasoline both rallied 1.8% to 99.52 and 2.6107 respectively.
Metals however, tumbled, as gold plunged 2.3% to 1629.10, copper declined 2.1%, and silver lost 1.4%.
Currencies
The Euro extended its losses from Monday, dropping 1.1% to 1.3031. The Pound and Canadian Dollar both lost .7%, and the Australian Dollar fell .5% to 1.0005. The Yen settled at 77.99, down fractionally, and the Swiss Franc slumped .8% to 1.0571.
Economic Outlook
Tuesday’s economic data was disappointing. Retails sales rose by.2% in November, significantly less than the .6% forecast. Business inventories rose by .8%, slightly more than expected.
Wednesday’s reports will include import prices, weekly oil inventories, and weekly mortgage applications.
No major earnings reports are due.