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Binary Options Daily Analysis – January Closes Quietly as Stocks Post Large
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To read the Weekly fundamental analysis click here
Equities
Asian markets advanced moderately on Tuesday. The Kospi climbed .8% to 1956, the Hang Seng rallied 1.1%, and the Shanghai Composite added .3% to 2293. Lagging behind, the Nikkei inched up .1% to 8803, while the ASX 200 slipped .2%.
European markets gained as well, despite weaker than expected data from the US. The CAC40 posted a solid 1% gain, while the DAX and FTSE rose a modest .2%. Hopes lingered on for a Greek debt deal, while pressure mounted on the heavily-indebted country to undertake steep spending cuts.
US stocks closed little changed, overcoming earlier losses. The Dow slipped 21 points to 12634, the S&P 500 closed flat at 1312, and the Nasdaq gained 2 points to 2814. Nonetheless, January was an extremely strong month for stocks, as the Dow climbed 3.4%, the S&P 500 advanced 4.4%, and the Nasdaq soared 8%.
Nasdaq Soars 8% in January
RadioShack tumbled 30% after issuing a profit warning, dropping to a 3-year low. Mattel advanced 5% on strong earnings, while UPS slipped .7% despite exceeding analyst forecasts.
Treasuries and Commodities
US bonds extended their rally to 5 straight days. 10-year notes gained 15/32 to yield 1.79%, and 30-year notes advanced 1 8/32 to yield 2.94%.
Commodities traded mixed, with no clear direction even within market sectors.
Natural gas plunged 8.7% to 2.477, as the resource continues to swing wildly almost daily. Crude oil eased .3% to 98.46, while gasoline gained .7% to 2.8939.
Gold rose .4% to 1741.50, while silver skidded 1% to 33.20, copper dropped .9% to 3.794.
Currencies
The Dollar was mixed as US growth concerns weighed against European debt troubles. The Euro ticked down .4% to 1.3080, and the Swiss Franc shed .3% to 1.0864. The Pound and Australian Dollar both gained .3% to 1.5760 and 1.0617 respectively, and the Yen rose .2% to 76.22.
Economic Outlook
Tuesday’s sobering economic data reawakened doubts over the pace of the US economic recovery. The Case Shiller home price index fell by 3.7%, significantly worse than last month’s 3.4% drop. Chicago PMI dropped to 60.2 from 62.5. Consumer confidence slumped to 61.1 from 64.8, whereas analysts had expected an increase to 68.2.
Wednesday’s busy economic calendar will include the ADP employment report, the Challenger job-cut report, the ISM manufacturing index, construction spending, auto sales, and weekly oil inventories.
Earnings are due from Aetna, Amdocs, AOL, Electronic Arts, Hershey, Nasdaq OMX, Qualcomm and Whirlpool.
Binary Options Trading analysis written by Bradley Welcher
Binary Options Daily Analysis – Western Stocks Rally, Boosted by Positive Data
To read the Weekly technical report click here
To read the Weekly fundamental analysis click here
Equities
Asian markets ended mixed after conflicting data from China failed to provide direction. The official PMI data pointed to an expansion in manufacturing, while HSBC PMI data indicated a mild contraction. The Shanghai Composites slumped 1.1%, the ASX 200 dropped .9%, and the Hang Seng dipped .3%. Amongst the gainers, the Nikkei inched up .1%, and the Kospi edged up .2%. Korean builders soared, as Samsung Engineering and Hyuandai Engineering both gained nearly 5%.
European markets rallied strongly, supported by upbeat economic news from Germany and the US. The DAX surged 2.4%, the CAC40 climbed 2.1%, and the FTSE jumped 1.9%. Banking shares rebounded 3.8% on news a Greek debt deal was imminent.
DAX Rallies 2.4% on Strong German Manufacturing Data
US stocks climbed as well. The Nasdaq outperformed, closing up 1.2%, followed by the S&P 500, which rose .9% to 1324. The Dow rose 84 points to 12716, ending its 4-day slide.
Amazon shares tumbled 7.7% after the company reported a sharp drop in revenue, and lowered its outlook. Whirlpool shares surged 13.5% after issuing a strong outlook, and Broadcom jumped 8.1% after beating analyst profit forecasts.
Treasuries and Commodities
Bonds snapped their 5-day winning streak, as signs of global growth reduced the appeal of treasuries. 10-year notes eased 9/32 to yield 1.83%, and 30-year notes fell 1 5.32 to yield 2.99%.
Oil inventories rose more than expected, pressuring the energy sector. Crude oil declined 1% to 97.47, natural gas tumbled 4.8%, and gasoline eased .2% to 2.8866.
In contrast, metals rallied, led by platinum’s 2.2% rally to 1623.30. Silver gained 1.5% to 33.775, copper rose 1%, and gold closed up .4% at 1747.20.
Currencies
The Dollar settled modestly lower against global currencies. The Euro rose .5% to 1.3156, recovering from an earlier drop down to 1.3028. The Australian Dollar settled up .7% to 1.0698, while the Pound and Swiss Franc advanced .4%. The Canadian Dollar broke through the parity level, gaining .3% to .9988, and the Yen inched up .1% to 76.22.
Economic Outlook
Wednesday’s ADP Employment report showed the economy gained 170K jobs last month, falling short of expectations of 189K, but still a very respectable figure. The official government non-farm payroll report will be released on Friday.
Construction spending rose by 1.5% last month, more than forecast, and auto sales unexpectedly jumped to an annualized rate of 14.2M, up from last month’s 13.6M reading.
Manufacturing PMI data from Germany rose to 52.1, significantly better than the 50.1 forecast.
Thursday’s data will include weekly unemployment claims, productivity & labor costs, and chain store sales.
Earnings are due from Beazer Homes, Boston Scientific, Cigna, Deutsche Bank, International Paper, Kellogg’s, Merck, Sony, Take Two and Unilever.
Binary Options Trading analysis written by Bradley Welcher
Binary Options Daily Analysis – Asia and Europe Rally, US Ends Mixed
To read the Weekly technical report click here
To read the Weekly fundamental analysis click here
Equities
Following the West’s lead on Wednesday, Asian markets rallied on Thursday. The Nikkei gained .8% to 8877, as financial stocks led the gains. Sharp tumbled 16% to a 31-year low after warning of a record loss for the upcoming year. The Kospi climbed 1.3%, as LG Electronics advanced 7.4%, posing its 9th straight gain. In China, the Hang Seng and the Shanghai Composite both soared 2%, while Australia’s ASX 200 advanced 1%.
European markets posted modest gains, led by materials stocks, which posted a gain of 2.7%. The DAX rose .6%, the CAC40 edged up .3%, and the FTSE ticked up .1%
Mining group, Xstrata, soared 9.9% after confirming it was involved in merger talks with commodity trader, Glencore. Glencore shares surged 6.9%.
US stocks ended mixed as traders prepared for Friday’s job report. The Dow slipped 11 points to 12705, the Nasdaq advanced .4%, and the S&P 500 edged up .1%.
Mastercard shares jumped 6.7% after profits exceeded analyst estimates for the 7th quarter in a row. Abercrombie and Fitch tumbled 13.7% after releasing weak sales data for the holiday season, and slashed their outlook for the coming year.
Abercrombie & Fitch Shares Continue to Drop
Treasuries and Commodities
US bonds closed mixed after dropping on Wednesday. 10-year notes inched up 2/32 to yield 2/32, while 30-year notes declined 9/32 to yield 3.01%.
The wild ride in natural gas continued, as the energy commodity surged 6.6% to 2.545. Crude oil fell 1.1% to 96.55, and gasoline slid .5% to 2.8771.
Metals traded mostly higher, as silver climbed 1.5% to 34.325, and gold gained .7% to 1761.90. Bucking the uptrend, copper shed 1.5% to 3.7855.
Currencies
Currencies traded in narrow ranges, with the Dollar moving up slightly. The Euro and Swiss Franc both slipped .2% to 1.3149 and 1.0912 respectively, and the Pound lost .3% to 1.5807. The Yen and Australian Dollar closed flat.
Economic Outlook
Weekly jobless claims fell to 367K, 6K better than forecast. Labor costs rose more than expected, while productivity increased less than expected, both positive developments for the employment situation.
Friday’s key report will be January’s non-farm payroll data. Economists are expecting a gain of 150K jobs, down from last month’s 200K gain. The unemployment rate is expected to remain at 8.5%. Also due are the ISM non-manufacturing index, and factory orders.
Earnings are due from Clorox, Tyson Foods, and Weyerhaeuser.
Binary Options Trading analysis written by Bradley Welcher
Binary Options Daily Analysis – Focus Shifts to Greece as Debt Deal Remains Elusive
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Equities
Friday’s strong jobs data gave Asian markets an opening boost on Monday. The Nikkei and ASX 200 both climbed 1.1%, while the Kospi surrendered an early gain to end flat. China’s Shanghai Composite also closed flat, while the Hang Seng eased .2%.
European markets slipped slightly as anxiety overGreece’s debt troubles pulled down financials. The CAC40 fell .6% the FTSE eased .2% and the DAX ended flat as Greece policymakers struggled to reach an agreement with debt holders, even as the official deadline for a deal passed.
Back at home, US stocks opened lower but erased most of their losses as the session progresses. The Dow settled down 17 points to 12845, the Nasdaq dipped .1%, and the S&P 500 settled down fractionally at 1344.
Humana shares sank 5.4% on disappointing revenue, even though profits met analyst estimates.
Regulators are considering blocking Express Scripts buyout of Medco, pressuring shares in both companies. Medco tumbled 8.1% and Express Scripts shed 4.6%.
Treasuries and Commodities
Bonds posted moderate gains, recovering some of Friday’s losses. 10-year notes gained 7/32 to yield 1.90%, and 30-year notes advanced 21/32 to yield 3.08%.
Natural gas rallied 2.6% to 2.563, and gasoline climbed .9% to 2.94, while crude oil declined .6% to 97.21.
Gold and copper fell .9% to 1724.19 and 3.865 respectively, while silver slipped .2% to 33.685.
Gold Slumps as much as $50 in 2 Days
Currencies
The Dollar had rallied earlier in the morning, but those gains evaporated as the day progressed. The Euro declined .1% to 1.3133, recovering from a low of 1.3031. The Pound rose .1% to 1.5828, the Australian Dollar edged up .2% to 1.0730, and the Canadian Dollar climbed .3% to .9960. The Yen fell .5% to 76.56, and the Swiss Franc slipped .2% to 1.0886.
Economic Outlook
Pressure is mounting on Greeceto secure a deal before time runs out, triggering a default. Greecehas until March 20th to make a payment of 14.5 billion euro, or it will default. A deal for a 130 billion euro bailout has been pending since October, awaiting concessions fromGreece.
Tuesday’s light economic calendar will include the TIPP economic optimism index, and consumer credit. Earnings are scheduled for Coca-Cola. Gartner, and Vitesse Semiconductor.
Binary Options Daily Analysis – Greek Hopes Push up Euro, Treasuries Slide
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Equities
Asian markets closed modestly lower, amid rising tensions over Greece’s debt troubles. The Nikkei eased .1% to 8918, the ASX 200 fell .5%, and the Hang Seng closed down fractionally. China’s Shanghai Composite tumbled 1.7% as steel companies dropped, while Korea’s Kospi edged up .4%.
China's Shanghai Composite Continues to Struggle, Dropping 1.6%
Indecision gripped European traders, leaving the major indexes mixed at the close. The CAC40 rose .2%, while the DAX slipped .2%, and the FTSE closed flat. Excitement abated over the potential merger of Xstrata and Glencore, as several major shareholders said they’d vote against the deal, sending shares of both companies down roughly 4%.
In the US, stocks inched up, lifted on hopes that a Greek debt deal was imminent. The Dow closed up 33 points to 12878, the S&P 500 gained .2%, and the Nasdaq rose .1%.
Yum Brands advanced 2.6%, and Coca-Cola gained .8% after beating analyst profit forecasts. Mastercard doubled its dividend to 30 cents a share, pushing the stock up .4%.
Treasuries and Commodities
Bonds fell, with 10-year notes shedding 19/32 to yield 1.98%, and 30 year notes losing 1 1/32 to yield 3.15%.
Crude oil jumped 1.8% to 98.66, a day after Saudi Arabia said it favored a $100 target for oil prices. Natural gas dropped 2.8% to 2.479.
Gold rallied 1.3% to 1747.80, and silver climbed 1.4% to 34.23, while copper dipped .1% to 3.8605.
Currencies
An afternoon selloff in the Dollar pushed the Euro up .9% to 1.3248, its highest level in nearly 2 months. The Swiss Franc climbed .8% to 1.0963, the Australian Dollar rallied .7% to 1.0796, and the Pound gained .5% to 1.5895. The Yen slipped .3% to 76.81.
Economic Outlook
Consumer credit rose by $19.3 billion, nearly 3 times analyst estimates for a $7.7 billion increase, in a sign that the consumer spending is picking up dramatically. The TIPP economic optimism index rose to 49.4 from 47.5, more than forecast.
Wednesday’s light economic calendar will be limited to weekly oil inventories and weekly mortgage applications.
Earnings are due from Akamai, CVS, Cisco, Groupon, ICE, Moodys, Sprint, Time Warner, Visa, and Whole Foods.
Binary Options Daily Analysis – Asia Rallies, West Awaits Greek Deal
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Equities
Asian markets rallied on Wednesday, with several of the major indexes climbing to multi-month highs. The Nikkei advanced 1.1% to 91016, a 3 month high, as Toyota raised its annual profit forecast by more than 30%. Similarly, the Kospi posted a gain of 1.1%, with leading shipbuilders advancing 6% on hopes the sector will soon recover. The Shanghai Composite surged 2.4%, and the Hang Seng jumped 1.5% to 21018, a 6 month high. The ASX 200 trailed its peers, rising just .4%.
Hang Seng Index Climbs to 6 Month High
The East’s impressive gains failed to make an impact on the West. European markets closed slightly lower, as the region anxiously awaits a Greek debt deal. The FTSE slipped .2%, while the DAX and CAC40 dipped less than .1%.
US stocks fared better, posting modest gains. The Nasdaq gained .4% to 2916, the S&P 500 rose .2%, and the Dow inched up 6 points to 12884.
Disney shares gained.7% after beating earnings forecasts, while missing on revenue.
Caesars Entertainment soared 71% in its first day of trading under the symbol “CZR”.
Treasuries and Commodities
The Treasury auctioned $24 billion in 10-year notes, with a high-yield of 2.02%, and bid-to-cover ratio of 3.05. 2 through 30-year notes all closed flat to fractionally lower.
Gasoline climbed 1.7% to 2.978, and crude oil rose .5% to 98.90, while natural gas shed 1.1% to 2.444. Crude oil inventories rose by .3M barrels, significantly less than the 2.5M expected.
Metals traded mixed, as copper gained .7%, while silver and gold fell .7% to 1735.40 and 33.935, respectively.
Currencies
The Dollar gained modestly across the board. The Pound slumped .5% to 1.5819, and the Yen dropped .3% to 77.01. The Euro, Australian Dollar, Swiss Franc, and Canadian Dollar all ended down .1%, as the market braces for the outcome of Greece’s debt negotiations.
Economic Outlook
Weekly mortgage applications jumped last week, a healthy sign that the housing market is on the rebound.
The Bank of England, and the ECB will announce their rate decisions on Thursday, but no changes are expected.
In the US data is due on weekly unemployment claims, and wholesale inventories.
Earnings are scheduled for Activision, CBOE, Dunkin Donuts, LinkedIn, Noble Energy, Pepsi, Phillip Morris, and Rio Tinto.
Binary Options Daily Analysis – Greek Lawmakers Reach Agreement, Market Unimpressed
BinaryOptionStrategy.com
Equities
Asian markets closed little changed, ahead of major rate decisions from Europe. The Nikkei slipped .2% to 9002, while the Kospi gained .5%. In China, inflation rose more than forecast, but market participants failed to notice. The Shanghai Composite rose .1% to 2350, and the Hang Seng closed flat. Australian shares closed down .2%, recovering from a 1.1% loss earlier in the day.
European markets advanced moderately, as the Bank of England and ECB kept rates unchanged. The UK’s central bank announced it would increase its quantitative easing program, and the ECB indicated it would work to make it easier for banks to get loans. The DAX gained .6%, the CAC40 rose .4%, and the FTSE edged up .3%.
Greece announced lawmakers had reached an agreement for an austerity plan, a key step in getting another bailout package, but the market reaction was minimal.
US stocks inched up for a 3rd straight day. The Dow rose 6 points to 12890, the Nasdaq advanced .4%, and the S&P 500 gained .2% to 1352.
PepsiCo shares sank 3.7% on a disappointing outlook for 2012, despite reporting strong profits. Groupon shares tumbled 13.9% after reporting an unexpected loss in its first public earnings announcement.
On the upside, Akamai share jumped 10.5% on earnings which exceeded forecasts, and Visa shares advanced 3.8% after announcing solid earnings and a new stock buyback plan.
Treasuries and Commodities
Bond prices eased modestly, with 10-year notes slipping 4/32 to yield 2.03%, and 30-year notes declining 19/32 to yield 3.18%.
Crude oil rallied 1% to settle at 99.70, after crossing above $100 earlier in the session. Gasoline climbed 1.2% to 3.012, and natural gas gained .8% to 2.468.
Oil Rallies 1%, Crossing Above $100 for the First Time this Month
Copper jumped 1.6% to 3.9715, and silver rose .5% to 33.855, while gold closed flat at 1731.
Agricultural futures sold off, with cotton tumbling 3.5%, and wheat sinking 2.2%.
Currencies
Despite two central bank decisions, and news of a Greek debt deal, the currency markets were relatively quiet. The Euro rose .2% to 1.3283, while the Swiss Franc and Canadian Dollar rose .1% to 1.0967 and .9953 respectively. The Yen sank .8% to 77.70. The Pound and Australian Dollar closed flat.
Economic Outlook
Weekly jobless claims fell to 358K, 11K better than forecast, and 15K better than last week. Wholesale inventories rose by 1%, significantly higher than the .4% forecast.
Friday’s reports will include international trade, and consumer sentiment. Fed chairman, Bernanke, will be speaking in Orlando about the housing market.
Earnings are due from Alliant Energy and Barclays.
Binary Options Report (Feb. 6- Feb. 10)
To read the Weekly fundamental analysis click here
Binary Options Report (Feb. 6- Feb. 10)
Markets
The markets rcovered from their lows but showed a weekly loss. The S&P and Nasdaq lost a 5-week winning streak. This comes with stalled debt talks in Greece, disappointing economic reports and the S&P downgrading some Italian banks. The Dow Jones lost 89.23 to close at 12,801.23. The S&P 500 lost 9.31,to close at1,342.64. The Nasdaq fell 23.35to close at 2,903.
DJIA CHART
FOREX
Euro traders appear to be losing patience as Greece continues to break promise after promise. The Greek debt problem is now in its 23rd month, and the outlook continues to to worsen. What is next? This week will be critical.
The Greek Parliament must approve the terms of the austerity proposal that the Cabinet approved after the close of trading on Friday. Last weeks plan was rejected by EU minister as it supposedly required another 325 million Euros in spending cuts (in additional to the reported 3.3 billion that was presented). Finance Minister Venizelos has framed the vote as a decision on whether the country will remain with the Euro. This move, even if it only posturing, sets a tone of ‘no alternative’ to traders.
Should Parliament approve the proposal, then Greece must get rivate investors to consent to haircuts on existing debt. The current terms are for a more-than 70 percent write down, a swap for 30 year bonds yielding 3.6 percent along with growth and EFSF bond sweetners. If that step is done, then the EU ministers will decide whether it is confident in Greece’s ability to bring its debt to the targeted 120 percent of GDP. If that is done, the 130 billion euro package will be released. Should any of these steps fail then the failure is in the cards and default happens.
EURUSD
COMMODITIES
Oil prices fell Friday with a critical bailout plan for Greece’s economy stalling. Crude lost $1.17 to close at $98.67. Gold was up $8.90 to $1747.90
Oil Chart
EQUTIES
NYSE Euronext narrowly beat analyst forecasts with a 13 percent profit rise to $212 million in Q4 ’11, after Deutsche Boerse’s plan to take over the transatlantic exchange was scuttled. LinkedIn surged after the online networking company beat expectations and handed in an outlook for the quarter and full-year that beat estimates. Expediafell after the online travel agency reported sales that missed and profit that was hurt by rising costs.
Binary Options Trading analysis written by David Frank
Fundamental Analysis and the Week Ahead
To read the Weekly technical report click here
ECONOMIC NEWS
In the US, hiring picked up in July as the Labor Department reported employers added 117,000 jobs last month and the unemployment rate dipped to 9.1 percent. Even more stunning was the news from the ratings agency of S&P.
Standard & Poor’s, one of the world’s three major credit rating agencies, cited “difficulties in bridging the gulf between political parties” as a major reason for the downgrade from US’s top shelf AAA status to AA+, the next level down. The rating agency has essentially lost faith in Washington’s ability to work together to address its debt.
The downgrade, hours after markets closed on Friday, is a first for the US since it was granted an AAA rating in 1917. S&P warned about a downgrade as far back as April.
THE WEEK AHEAD
MONDAY: Employment trends index
TUESDAY: NFIB small biz optimism index, productivity and costs, 3-yr note auction, FOMC mtg announcement; Earnings from Disney
WEDNESDAY: Weekly mortgage apps, wholesale trade, oil inventories, 10-yr note auction, treasury budget; Earnings from Macy’s, Cisco
THURSDAY: International trade, jobless claims, 30-yr bond auction, money supply; Earnings from Kohl’s, Nordstrom
FRIDAY: Retail sales, consumer sentiment, business inventories; Earnings from JCPenney
Binary Options Trading analysis written by David Frank
Binary Options Daily Analysis – Doubts over Greek Bailout Weigh on Equities
To read the Weekly technical report click here
To read the Weekly fundamental analysis click here
Equities
Asian markets fell on Friday, as doubts lingered over the fate of Greece’s bailout package, even after lawmakers approved an austerity plan. The Nikkei declined .6% to 8947, the Kospi shed 1% to 1994, and the ASX 200 fell .9%. Chinese markets ended mixed, as the Hang Seng slumped 1.1% to 20784, while the Shanghai Composite rose .1%, despite disappointing import data.
Selling pressure accelerated in Europe. The CAC40 dropped 1.5%, the DAX sank 1.4%, and the FTSE lost .7%. Banking shares lost more than 3.4% as protests erupted in Greece over the proposed austerity measures, while European leaders demanded even steeper cuts.
US stocks closed lower, as the Dow fell 89 points to 12801, its largest fall in 2012. The Nasdaq closed down .8%, and the S&P 500 dropped .7% to 1343, while the VIX surged 11.6% to 20.79.
VIX Surges 11.6% as Greek Tensions Spike
LinkedIn shares soared 17.8% after beating analyst profit forecasts and raising its outlook for the year. Nuance shares slumped 13% after profits fell short of estimates.
Treasuries and Commodities
Bonds advanced, as investors favored the safety of US treasuries. 10-year notes gained 14/32 to yield 1.99%, and 30-year notes advanced 30/32 to yield 3.14%.
Commodities traded mostly lower. Crude oil fell 1.2% to 98.67, and gasoline declined 1.3% to 2.9749.
Copper tumbled 2.9% to 3.862, while gold and silver both dropped .9% to 1726 and 33.60, respectively.
Wheat lost another 2.5% to 630, and corn lost .8% to 631.75.
Currencies
The Dollar rallied as the currency markets shifted into “risk off” mode. The Australian Dollar was the largest loser, dropping 1.1% to 1.0673. The Euro fell .7% to 1.3188, the Pound lost .4% to 1.5755, and the Swiss Franc dropped .5% to 1.0915. The Canadian Dollar shed .7% to 1.0018, while the Yen bucked the trend, inching up .1% to 77.59.
Economic Outlook
The US trade deficit grew to $48.8 billion, slightly larger than expected, and up from last month’s $47.1 billion deficit. Consumer confidence fell more than expected to 72.5, from last month’s reading of 75.
No major economic reports are due on Monday. Earnings are scheduled for Dryships, Rackspace, and Vitamin Shoppe.
Binary Options Trading analysis written by Bradley Welcher