Binary Options Daily Review July 5, 2010
U.S. stocks down 4.5% on week
Blue chips fell for seventh day and U.S. stocks were lower Friday as the U.S. jobless rate fell, but nonfarm payrolls declined for the first time this year and U.S. factory orders had their biggest drop in 14 months.
Apple expected to take a hit
Apple issued a statement Friday explaining some of the widely reported signal-reception issues with the iPhone 4, blaming the problem on the way the device indicates the strength of wireless coverage.
Australian stocks end the week on an up note
The Australian government announced sweeping changes to its planned new mining tax Friday, making major concessions to the mining industry and clearing the way for an early election, hot on the heels of the sudden installation of a new prime minister. American depositary shares of BHP Billiton jumped 1.5%, while Rio Tinto advanced 1.5% and Freeport-McMoran Copper & Gold climbed 2.2%.
Gold end bearish week
Gold rose on Friday, but posted worst week in six with 4% fall.
Oil week was the worst since May
Last week’s 8.5% decline by the front-month contract was the worst since early May. However, many analysts said technical charts show Nymex crude is likely to consolidate with a downward bias to at least a three-week low of $71.62 a barrel.
