Binary Options Trading analysis written by Bradley Welcher - BinaryOptionStrategy
Equities
A drop in US unemployment claims helped push Asian markets higher on Friday. The Kospi climbed 1.1%, and the ASX 200 added 1.2%, led by materials stocks. The Shanghai Composite rose .9%, and Hong Kong’s Hang Seng advanced 1.4%, gaining 1.9% for the week. The Nikkei was closed for a holiday.
The equity rally continued in Europe, as the FTSE and CAC40 rallied 1%, while the DAX gained .5%. Oil and gas stocks were the largest gainers, as crude oil continued its recent advance.
Similar gains were achieved in the US. The Dow climbed 124 points, the S&P 500 gained .9%, and the Nasdaq rose .7%. Congress passed a 2 month extension on a payroll tax cut, which affects 160 million workers.
Dow Rallies 124 Points
Rambus shares jumped 12% after signing a licensing agreement with Broadcom.
Treasuries and Commodities
US bonds fell as equities gained. 10-year notes dropped 22/32 to yield 2.02%, and 30-year notes sank 1 16/32 to yield 3.06%.
Gasoline futures surged 1.8% to 2.6872, and crude oil inched up .15 to 99.68, while natural gas slumped 1.7% to 3.114.
Copper rallied 1.6%, boosted by the recent flow of upbeat housing data. Silver edged up .1% to 29.084, while gold slipped .3% to 1606.
Currencies
The major pairs traded in narrow ranges as the market prepared for the extended holiday weekend.. The Euro closed down fractionally at 1.3048, while the Swiss Franc, Australian Dollar, and Yen all edged up .1%. The British Pound was a notable mover, dropping .6% to 1.5588.
Economic Outlook
Yet another report suggested that the US housing market is finally beginning to recover, as new home sales edged up to 315K, better than last month’s 310K, and slightly above expectations.
Durable goods orders jumped 3.8%, blowing past forecasts of 2.2%, although core durable goods orders, which is more reliable, rose a mere .3%, below analyst expectations.
European and US markets will be closed on Monday for Christmas.
Equities
A drop in US unemployment claims helped push Asian markets higher on Friday. The Kospi climbed 1.1%, and the ASX 200 added 1.2%, led by materials stocks. The Shanghai Composite rose .9%, and Hong Kong’s Hang Seng advanced 1.4%, gaining 1.9% for the week. The Nikkei was closed for a holiday.
The equity rally continued in Europe, as the FTSE and CAC40 rallied 1%, while the DAX gained .5%. Oil and gas stocks were the largest gainers, as crude oil continued its recent advance.
Similar gains were achieved in the US. The Dow climbed 124 points, the S&P 500 gained .9%, and the Nasdaq rose .7%. Congress passed a 2 month extension on a payroll tax cut, which affects 160 million workers.
Dow Rallies 124 Points
Rambus shares jumped 12% after signing a licensing agreement with Broadcom.
Treasuries and Commodities
US bonds fell as equities gained. 10-year notes dropped 22/32 to yield 2.02%, and 30-year notes sank 1 16/32 to yield 3.06%.
Gasoline futures surged 1.8% to 2.6872, and crude oil inched up .15 to 99.68, while natural gas slumped 1.7% to 3.114.
Copper rallied 1.6%, boosted by the recent flow of upbeat housing data. Silver edged up .1% to 29.084, while gold slipped .3% to 1606.
Currencies
The major pairs traded in narrow ranges as the market prepared for the extended holiday weekend.. The Euro closed down fractionally at 1.3048, while the Swiss Franc, Australian Dollar, and Yen all edged up .1%. The British Pound was a notable mover, dropping .6% to 1.5588.
Economic Outlook
Yet another report suggested that the US housing market is finally beginning to recover, as new home sales edged up to 315K, better than last month’s 310K, and slightly above expectations.
Durable goods orders jumped 3.8%, blowing past forecasts of 2.2%, although core durable goods orders, which is more reliable, rose a mere .3%, below analyst expectations.
European and US markets will be closed on Monday for Christmas.